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NEWS2018-12-14T21:01:37+00:00

INDUSTRY NEWS

Outsourcing Wave Continues as Pikeville Medical Agrees to Sell Home Health Division

June 17th, 2019|

Pikeville Medical Center — one of the largest hospitals in eastern Kentucky — announced last week that it’s selling its home health division to Home Care Health Services. In doing so, Pikeville joins the ever-growing list of hospitals outsourcing their home health operations to nearby agencies, often because of workforce or financial challenges. Financial terms of the deal between Pikeville and Home Care Health Services — expected to close in toward the middle of July — were not disclosed.

Newport Academy Expands Services into the Pacific Northwest with Gray Wolf Ranch Acquisition

June 11th, 2019|

NASHVILLE, Tenn., June 11, 2019 /PRNewswire/ -- Newport Academy, a series of leading adolescent and young adult treatment centers specializing in mental health, trauma, eating disorders, and substance abuse, has announced the purchase of Gray Wolf Ranch in Washington State. The acquisition will further expand Newport Academy's network of evidence-based and highly impactful mental health treatment services.

Consolidated Care To Become TCN Behavioral Health

June 10th, 2019|

Clients receiving addiction and mental health services will notice an administrative change in their care beginning next month. Consolidated Care Inc. will be acquired by TCN Behavioral Health Services, effective July 1, but patients will see no particular changes to their care, or fee structure. “CCI decided to seek a partnership with another agency because it wanted the ability to provide a wider array of services,” according to a letter mailed to current CCI clients. “CCI conducted an extensive search within the region looking for that opportunity.

Ascend Hospice Extends Services to San Juan, Puerto Rico

June 10th, 2019|

Ascend Hospice, a top hospice and palliative care provider with offices in 7 states, is extending its services into and across the island of Puerto Rico with the acquisition of Grace Hospice, based in San Juan. Ascend Hospice is dedicated to providing innovative, quality hospice and palliative care to the communities we serve to help our patients live better lives. The acquisition of Grace Hospice allows Ascend Hospice to provide the communities of the commonwealth with the care and compassion Ascend is known for. The business will operate across the island under its new name, Grace Hospice Puerto Rico, and will provide hospice care to those with terminal diagnoses and palliative care to those suffering chronic pain.

The Ensign Group Acquires Home Health and Hospice Operations in Wisconsin

June 5th, 2019|

MISSION VIEJO, Calif., June 05, 2019 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (NASDAQ: ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, home health care, hospice care and assisted living companies, announced today that a subsidiary of Cornerstone Healthcare, Inc., Ensign’s home health and hospice portfolio subsidiary, acquired the assets of Preceptor Health Care, which provides home health, hospice, and therapy services in eastern Wisconsin. The acquisition was effective June 1, 2019. “This strategic acquisition allows Cornerstone to partner with Ensign’s skilled nursing and senior living facilities in the area,” said Christopher Christensen, Ensign’s President and Chief Executive Officer. "Providing this full range of services," Christensen continued, "gives us a unique opportunity to improve outcomes and reduce rehospitalization rates for those patients who entrust us with their care."

Addus HomeCare Completes Purchase of VIP Health Care Services

June 3rd, 2019|

FRISCO, Texas, June 3, 2019 /PRNewswire/ -- Addus HomeCare Corporation (NASDAQ: ADUS), a provider of comprehensive home care services, today announced that it has completed the purchase of the assets of VIP Health Care Services, a provider of home care services, headquartered in Richmond Hill, New York, effective June 1, 2019. VIP Health Care Services currently serves approximately 1,250 consumers in all five boroughs of New York City as well as surrounding counties. Addus funded the purchase price of $28.0 million (net of excess cash) through the delayed draw term loan portion of the Company's credit facility and cash on hand.

LHC Group announces finalization of purchase agreement and joint venture partnership in New Jersey

June 3rd, 2019|

LAFAYETTE, La., June 03, 2019 (GLOBE NEWSWIRE) -- LHC Group, Inc. (NASDAQ: LHCG) and AtlantiCare – A Member of Geisinger have finalized a previously announced joint venture (JV) agreement and purchase that includes home health and hospice services at AtlantiCare in Atlantic County, New Jersey – expanding LHC Group’s footprint within the state. In April, LHC Group and Geisinger finalized their previously announced JV partnership for home health and hospice services at Geisinger locations in Pennsylvania. These agencies, which serve their local communities in the states of Pennsylvania and New Jersey, represent annualized revenue of approximately $35 million.

JourneyCare Acquires Northwestern Memorial’s Home Health Line; LHC Group Finalizes AtlantiCare JV

June 3rd, 2019|

JourneyCare — Illinois’ largest nonprofit community-based hospice and palliative care provider — is expanding into the home health space. To do so, the provider has purchased Northwestern Memorial HealthCare’s home health and hospice programs. Terms of the deal were not disclosed. Among its offerings, the Glenview, Illinois-based JourneyCare provides adult and pediatric palliative and hospice care, in addition to house call and chronic care management services. JourneyCare currently serves 13 counties in the Chicago area and throughout northern Illinois.

Alpine Investors Acquires Leading Home Care Provider, Circle of Life Home Care Anishinaabe, Inc.

May 30th, 2019|

SAN DIEGO & SAN FRANCISCO--(BUSINESS WIRE)--TEAM Services Group (“TEAM”), a portfolio company of Alpine Investors V and V SBIC, LP (“Alpine”), announced today that they have partnered with Circle of Life Home Care Anishinaabe, Inc. (“Circle of Life” or “COLHCA”), a leading home care agency providing personal care attendant and homemaking services with a focus on serving Native American communities.

Kadiant and STE Consultants Agree to Partner

May 24th, 2019|

OAKLAND, Calif.--(BUSINESS WIRE)--Kadiant, a mission-driven organization that provides high-quality Applied Behavior Analysis (ABA) therapy and related services to individuals diagnosed with autism spectrum disorder (ASD), announced today it has signed a definitive agreement to partner with STE Consultants, a pioneer provider of ABA services in both center and home-based settings. The partnership will mark the fourth addition to Kadiant this year, following its investments in Central Valley Autism Project (CVAP), Kids Overcoming (KOI), and Integrated Behavioral Solutions (IBS). The agreement with STE Consultants is subject to customary closing conditions. Terms of the partnerships are not being disclosed.

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