Dealbook: DAI Closes On HCA Deal; At Home Harmony Raises $4.7M

DAI closes on HCA Healthcare deal

Deaconess Associations Incorporated (DAI) has closed on its acquisition of 24 home health locations and seven hospice locations from HCA Healthcare.  

The new agencies, which span eight states, have joined Central Pyramid, one of DAI’s four owned subsidiaries.

DAI CEO Trey Crabb previously told Home Health Care News that the acquisition was part of the company’s plan to double down on home health and hospice.

“We felt like growing larger makes sense in that environment, and serving more people, and spreading our costs over a bigger operation, and so we’ve made the decision to double down on home health and hospice,” Crabb said.

McKinney, Texas-based Central Pyramid provides home health and hospice services, often through local brands.

Nonprofit Cincinnati, Ohio-based DAI is a faith-based healthcare enterprise that operates diversified healthcare services, programs, investments, and community grant initiatives in 23 states, including home health and hospice offerings in six.

At Home Harmony raises $4.7 million

WFS Home Care Enterprises, which operates under the name At Home Harmony, has raised $4.7 million and is seeking an additional $800,000, according to an SEC filing.

Henrico, Virginia-based At Home Harmony provides home-based primary care, pharmacy services, care management, personal home care and other services. It operates in Central Virginia and Asheville, North Carolina. It also participates in Medicare’s Guiding an Improved Dementia Experience (GUIDE) Model, which supports individuals living with dementia and their unpaid caregivers.

The company specializes in care for older adults with complex needs and partners with home healthcare providers when needed, according to its website.

At Home Harmony’s services are covered by Medicare, except for its personal home care services, which are paid for through long-term care insurance and private pay.

Preferred Care, Chapters Health System announce joint venture

Preferred Care, a Florida-based home health agency, and nonprofit hospice provider Chapters Health System have launched a new joint venture.

The partnership launched Preferred Care Hospice, which provides hospice services through the certificate of need program.

“Our partnership combines Preferred Care’s local leadership, deep community ties and uncompromising standards with the operational infrastructure and support of Chapters Health System, creating a seamless continuum of care across home health and hospice services,” Christopher Melley, president and CEO of Preferred Care, said in a statement.

Outside of the joint venture, Fort Myers, Florida-based Preferred Care provides skilled home health and palliative care services in Florida.

Temple Terrace, Florida-based Chapters Health System operates 30 companies and programs, including the Program of All-Inclusive Care for the Elderly (PACE), Medicare Advantage plans and a nonprofit hospice network.

Nevvon receives strategic investment from BVP Forge

Home-based care compliance and training company Nevvon has received a strategic investment form BVP Forge.

The new funds will help Nevvon expand its platform and relationships with payers and self-directed care programs. Existing management will continue to lead the company.

“We built Nevvon because caregivers and the agencies that employ them deserve better infrastructure than what the industry has offered,” James Cohen, CEO of Nevvon, said in a statement. “Partnering with BVP Forge lets us continue to scale for the caregivers and agencies who depend on us.”

More than 650,000 caregivers have completed lessons on Nevvon’s platform, according to the company.

BVP Forge is Bessemer Venture Partners’ private equity arm focusing on technology and B2B services businesses.

Basalt Health raises $20 million

Basalt Health, an AI-powered post-acute referral platform, raised $20 million in a Series A round.

Return investor NEA led the round, with participation from existing investors Frist Cressey Ventures and 25m Health.

The Series A brings Basalt’s total fundraising amount to approximately $24.5 million

Basalt Health’s AI technology works with hospitals to read referrals and check them against clinical and payer rules to reach post-acute placement decisions. The company has thus far partnered with Lifepoint Health, with plans to scale to 62 hospitals with ScionHealth by December 2026.

“Case managers are still sending 70-page packets and waiting for responses, while patients remain stranded in hospital beds,” Basalt Founder and CEO Ben Hackett said in a statement. “Basalt turns that uncertainty into fast, defensible decisions. This funding gives us the power to transform one of healthcare’s most stubbornly inefficient systems.”