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Enhabit purchases Southwest Florida Home Care’s Fort Myers location
Enhabit Inc. (NYSE: EHAB) has acquired the Fort Myers, Florida, location of Southwest Florida Home Care.
“We are excited to welcome the Southwest Florida Home Care employees to our Enhabit team,” Enhabit President and CEO Barb Jacobsmeyer said in a press statement. “We look forward to continuing to support our new team members as we serve more patients in need of high-quality home health services.”
Dallas-based Enhabit is a home health and hospice provider. Prior to the transaction, the company had 250 home health locations and 100 hospice locations across 34 states.
Additionally, Enhabit is the fourth largest provider of Medicare-certified home health services nationally.
The deal further beefs up Enhabit’s existing Florida footprint. Overall, the company has 22 home health locations in the state.
The Care Team completes 1st Care Home Health and Care Hospice acquisition
The Care Team has completed its purchase of 1st Care Home Health and Care Hospice — collectively known as 1st Care. The terms of the transaction were not disclosed.
“The Care Team and 1st Care share similar cultures and a strong commitment to quality patient care,” Dan Shoemaker, CEO of The Care Team, said in a press statement. “We see a tremendous growth opportunity by expanding into Indiana and are excited to partner with organizations focused on clinical quality and patient experience.”
The Care Team is a portfolio company of private equity firm Revelstoke Capital Partners. The company is a hospice and home health provider operating across Michigan, Pennsylvania, Texas and Massachusetts.
On its end, 1st Care is a regional home health and hospice provider based in Carmel, Indiana.
“1st Care has made great strides over the years, and we are thrilled to be working with The Care Team to support our goal of accelerating growth while maintaining a high level of service to our communities and employees,” Hari Nagireddy, founder and CEO of 1st Care, said in the statement.
Amedisys completes JV with the University of Arkansas for Medical Sciences
Amedisys Inc. (Nasdaq: AMED) announced that it has closed on its joint venture with the University of Arkansas for Medical Sciences (UAMS). The collaboration between the two organizations will deliver home health services in Searcy and Little Rock.
The JV is part of a partnership between UAMS, Amedisys and Contessa. The aim of JV is to offer services such as, recovery care at home, rehabilitation care at home, palliative care at home, home-based primary care and home health.
Baton Rouge, Louisiana-based Amedisys provides home health, hospice and personal care services in 38 states and Washington, D.C.
Contessa Health — an Amedisys Inc. company — is based in Nashville, Tennessee, and delivers high-acuity care in the home.
“Amedisys is proud to partner with UAMS to provide a comprehensive program that will improve the outcomes and experiences for our patients in Central Arkansas,” Paul Kusserow, chairman and CEO of Amedisys, said in a statement. “Along with Contessa, our partnership allows us to offer the first-of-its-kind model to the region and the first Comprehensive Care at Home program to the state. This also marks the first partnership where Amedisys and Contessa are delivering this integrated model of comprehensive care in the home from the outset.”
The Pennant Group unveils share repurchase program
The Pennant Group Inc. (Nasdaq: PNTG) announced that its board of directors has approved a share repurchase program.
“Share repurchases can be a valuable capital allocation tool and we view this as a good time to begin the practice of opportunistically investing in our own stock when it is undervalued,” Brent Guerisoli, CEO of Pennant, said in a press statement. “We are confident in our people, in our unique operating model, and in our future growth plans, and we are excited to have the flexibility to seize attractive buying opportunities for our stock.”
The program will allow the company to potentially repurchase its common stock.
“We are committed to strategically deploying capital to drive growth and long-term value for Pennant stockholders,” Guerisoli said in the statement. “Steady and disciplined acquisition activity is a key component of Pennant’s strategy — we seek consistently to invest capital in situations likely to generate favorable returns over the long-term.”
The Eagle, Idaho-based Pennant is a holding company of independent operating subsidiaries, with a network that includes 95 home health and hospice agencies and 49 senior living communities located across the U.S.
Caring Senior Service opens shop in Florida
Caring Senior Service — a non-medical home care services company — has opened its first Florida location in Jacksonville.
“Once I realized how many people depend on the services that Caring Senior Service provides, I knew that by joining the company, I could have a big influence on the lives of seniors in my area who want to stay at home as they age,” Keith Patel, owner of Caring Senior Service of South Duval County, said in a press statement.
San Antonio, Texas-based Caring Senior Service is a franchise company that has 50 locations throughout the U.S.
As a part of its services, the company’s Florida location will offer personal care, transportation, meal preparation, medical reminders, light housekeeping, companionship and more.
“Keith will be a valuable member of the Caring Senior Service family as we expand into Florida,” Caring Senior Service CEO Jeff Salter said in the statement. “Both his concern for seniors in his area and his commitment to our mission of helping seniors remain healthy, happy and at home will make our first Florida location a resounding success.”
