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NEWS2019-08-12T19:16:29-04:00

INDUSTRY NEWS

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.

Mental-health firm planning to add 200 jobs with merger

May 20th, 2019|

Burrell Behavioral Health plans to double the 200-person staff of Youth Bridge, a Fayetteville-based behavioral health group, within the next five years, the merged companies' chief executive said. "The behavioral health industry is being flooded with interest in receiving care," Chief Executive C.J. Davis said last week. Davis is not exaggerating, Sen. Bart Hester, R-Cave Springs, said Friday. Hester is chairman of the state Senate's Children and Youth Committee.

PRIVATE EQUITY [UPDATED] AccentCare to be Acquired by PE Giant Advent International

May 16th, 2019|

Global private equity firm Advent International has entered a definitive agreement to acquire AccentCare from its current PE-backer, Oak Hill Partners. Financial terms were not disclosed. The acquisition is one of six home health PE deals announced so far this year, with fewer industry deals happening at a slower pace than in years past. In 2017, there were 28 PE deals in the space, followed by another 58 in 2018, according to the latest proprietary data from M&A advisory firm Mertz Taggart.

Kadiant Partners with Central Valley Autism Project

May 15th, 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 partnered with Central Valley Autism Project (CVAP), a pioneer provider of ABA services in both center and home-based settings. Kadiant’s partnership with CVAP marks the company’s third, following its investment in Kids Overcoming (KOI) and pending investment in Integrated Behavioral Solutions (IBS). Terms of the partnerships are not being disclosed.

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