A Texas-based hospice chain is setting its sights outside of the state. “We have done a great job of building our Texas footprint,” says Three Oaks Hospice CEO Andrea Bohannon in a release. Next, the Dallas-based company “will continue to strategically develop other underserved hospice markets outside of Texas,” Bohannon says. Three Oaks launched in May 2019 and acquired three locations, from Total Hospice & Palliative Care, ABS Palliative and Hospice Care, and Fellowship Hospice, it said in a release last year. Three Oaks has since acquired four other hospice providers, it now says — Peace Hospice and Palliative Care, VeraCare Hospice, Hospice Partners of America, and AMED Management. The chain furnishes more than 200,000 patient days of care annually in nine markets and four states.
During 2019, Three Oaks Hospice received more than $21 million in private equity backing from Granite Growth Health Partners, Health Velocity Capital and Petra Capital Partners, the company said last year. Three Oaks will grow through both acquisitions and de novo locations, it says.