Home-based provider New Day Healthcare announced Wednesday that it agreed to acquire Heritage Home Healthcare, marking its first foray into a new state.
With a team of over 900 caregivers, Heritage Home Healthcare provides home care, hospice and skilled nursing services to more than 1,100 patients daily across New Mexico. The acquisition brings New Day’s total deal count to 15.
“We are pleased to partner with the Heritage Home Healthcare team,” New Day Founder and CEO G. Scott Herman said in a statement. “We have been familiar with the company since 2016, and their reputation [for] high-quality care delivery and the constant pursuit of excellence, coupled with their ‘patient first’ culture, aligns perfectly with New Day Healthcare.”
Texas-based New Day Healthcare offers home health, hospice, pediatric, clinical decision support and personal care services in Texas, Missouri, Kansas, Illinois and now New Mexico. The company’s 10,000 team members help service nearly 180,000 patients annually.
Heritage Home Healthcare will continue to operate under its current brand. New Day plans for “continued strong expansion across multiple service lines” for Heritage.
“Heritage has a deep-rooted home care presence throughout New Mexico,” Matthew Griffith, chief development and strategy officer at New Day, said in a statement. “New Day will implement our continuum-based model, along with our proprietary CareLytics software, to drive organic growth and improved patient care workflows,” said Griffith. New Day’s platform has been built to scale and allows for successful expansion into additional geographies.”
In April, New Day expanded its Texas footprint with the acquisition of Patient Recovery Home Healthcare Services, a Houston-based personal care provider. In February, New Day acquired Christian Senior Care Services, a home-based care provider also based in Houston.
The company describes its acquisition strategy as “disciplined.” To foster its acquisition plans, New Day closed on a $125 million senior credit facility with First Citizens Bank in November.
The Heritage Home Healthcare deal is expected to close in July. Financial details were not disclosed.
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