The biggest retailers were zealous in their pursuit of home-based health care initiatives. But there’s little evidence to suggest that pursuit has been successful, at least thus far. This week, CVS Health (NYSE: CVS) announced that it was laying off 2,900 workers. Simultaneously, reports surfaced of Glenview Capital – a significant shareholder in the company […]
This week, New York Attorney General Letitia James and U.S. Attorney for the Eastern District of New York Breon Peace announced a $17.25 million settlement had been reached with two Brooklyn-based home care agencies for allegedly defrauding Medicaid and underpaying thousands of workers. Specifically, Edison Home Health Care of New York and Preferred Home Healthcare […]
As more advanced care moves into the home setting, traditional home-based care providers can ensure they aren’t left behind by forming innovative partnerships. The collaboration between BrightStar Care and Medically Home is one example of this. “More care is moving into the home, and higher acuity care is moving into the home,” Shelly Sun Berkowitz, […]
Public Partnerships LLC (PPL) — an Alpharetta, Georgia-based financial management services company — has been awarded the fiscal intermediary contract in New York. PPL will take over as the sole administrator of the state’s Consumer Directed Personal Assistance Program (CDPAP). “We are excited to have the opportunity to serve CDPAP consumers and personal assistants,” Maria […]
Having an eye towards growth also means being aware of potential roadblocks that could obstruct forward momentum. Home care leaders at companies like Comfort Keepers, Nova Leap and TheKey are navigating various barriers amid their efforts to further scale. At Comfort Keepers, the Ensuring Access to Medicaid Services rule is top of mind. Specifically, the […]
In August, Comfort Keepers was fined $500,000 and forced to remove language from its contracts restricting caregivers from accepting positions with home care clients up to one year after terminating employment. That contract language, dubbed a non-solicitation agreement, is a widely used clause in home care contracts to protect providers’ businesses. On its end, the […]
BrightSpring Health Services completes Haven Hospice acquisition BrightSpring Health Services (Nasdaq: BTSG) announced earlier this month that it has finalized its $60 million acquisition of the assets of North Central Hospice and Haven Medical Group, which collectively make up Haven Hospice. The deal was first announced in June, and was finalized as of Sept. 1. […]
It’s the interest rate, stupid. Home health, home care and hospice industry voices – including myself – have regularly pointed toward internal factors affecting M&A over the last two and a half years. In the end, the overarching, main headwind was always the extremely high interest rates that were put forth by the Federal Reserve […]
Home care companies are constantly looking for new growth avenues and expansion opportunities. In order to reach new heights, leaders at companies like TheKey, Comfort Keepers and Nova Leap are exploring various strategies to scale their businesses. For TheKey, this means focusing on three main areas. One of these areas is the company’s “boots on […]
The investment firm KKR & Co. Inc. (NYSE: KKR) announced Friday that it had entered an agreement to acquire 11,619,998 shares of BrightSpring Health Services (Nasdaq: BTSG) stock from Walgreens Boots Alliance (Nasdaq: WBA). KKR is an existing backer of BrightSpring, which had a share price of $13.85 as of market close on Friday. Based […]
