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Home Health & Hospice Week

Industry Note:

Home Care Companies Hit Acquisition Trail

Published on Thu Aug 23, 2012

Providers change hands nationwide.Home care providers have been busy in the mergers and acquisitions market.Among recently announced transactions is Louisville, Ky.-based Kindred Healthcare Inc.'s purchase of home care and hospice company IntegraCare Holdings Inc. for $71 million in cash and a $4 million option based on 2013 earnings. Grapevine, Texas.-based IntegraCare, a portfolio company of private-equity firm Flexpoint Ford, has annual revenue of about $71 million and 47 locations across the state, Kindred says in a release."The transaction will provide a platform for organic expansion into additional markets throughout the south including the Houston market where Kindred has a large market presence," the long-term care company says. The deal is expected to close in the third quarter.In Minnesota: Minneapolis-based Allina Health plans to buy ConnectCare, a non-profit home health and hospice company serving Glencoe and Hutchinson, Allina says in a release. Allina's Home & Community Services division serves 28 counties [...]
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