Prior to 2014, there were only a few thousand adult day centers operating throughout the United States. Today, there are likely over 10,000 centers in existence, each one trying to make a lasting mark in an extremely fragmented industry. Founded in 1991, Tennessee-based Centennial Adultcare Center is among that group. The medical-model adult day provider […]
More than 10 years after the concept for The Pennant Group (Nasdaq: PNTG) came to be, The Ensign Group (Nasdaq: ENSG) spinoff has finally made its way to fruition. The deal was completed on Oct. 1, meaning Ensign’s former home health, hospice and senior living businesses are now part of the new publicly traded company. […]
Nova Leap finalizes Oklahoma deal Nova Leap Health Corp (TSXV: NLH) — the Halifax, Nova Scotia-based home health care services company that has grown rapidly over the past few years — has finalized yet another acquisition. Earlier this month, Nova Leap announced it completed its acquisition of the business assets of Around The Clock Home […]
In a change of pace compared to recent trends, private equity buyers appear to be shying away from home health purchases. There were at least 13 transactions for Medicare-certified home health assets in 2019’s third quarter, with many of those purchases coming from the industry’s big publicly traded companies, according to the latest quarterly M&A […]
Contessa Health has entered into an agreement with Greenville, South Carolina-based Prisma Health, marking its third hospital partnership this year and its fifth since the company was founded in 2015. And that won’t be the last deal of 2019 for the Nashville-based hospital-at-home company, according to CEO Travis Messina, who says Contessa has finalized and […]
WellSky, a health and community care technology company backed by TPG Capital, has entered into an agreement to acquire ClearCare Inc., a personal care technology platform. Financial terms of the deal were not disclosed. The deal further solidifies WellSky’s dominance in the home-based care arena, especially because it comes on the heels of ClearCare’s partnership […]
Addus completes Hospice Partners of America deal Addus HomeCare Corporation (Nasdaq: ADUS) has completed its purchase of Hospice Partners of America. The Frisco, Texas-based at-home care company bought the multi-state hospice provider for $130 million cash — $118.4 million of which was in value and $11.6 million was in estimated tax benefits, according to a […]
TEAM Services Group acquires AmeriBest Home Care TEAM Services Group, a portfolio company of Alpine Investors, has purchased AmeriBest Home Care from Boyne Capital, a Miami-based private equity firm. The financial terms of the deal were not disclosed. Philadelphia-based AmeriBest is a home agency that provides services that include long-term care, skilled nursing, medical social […]
Home-based care providers have no shortage of regulatory hurdles and legal changes to keep them on their toes. For most home health agencies, the Patient-Driven Groupings Model (PDGM) and Review Choice Demonstration (RCD) are top of mind. Meanwhile, home care agencies have minimum wage hikes and electronic visit verification (EVV) to worry about. With so […]
Amedisys Inc. (Nasdaq: AMED) is just a couple months into its partnership with ClearCare Inc., and already the duo’s personal care network has exceeded 700 agencies. The goal is to expand the Baton Rouge, Louisiana-based home health company’s reach and capabilities in the home, while also opening the door for Medicare Advantage (MA) opportunities. All […]