Home Health & Hospice Week

Plus: PE-backed firms make purchases.

Two chains have had success targeting acquisitions from senior living-focused firms.

In Tennessee, Addus HomeCare Corp. has agreed to acquire the entities comprising Tennessee Quality Care, a provider of home health, hospice, and private duty nursing services, for undisclosed terms, the Frisco, Texas-based chain says in a release. TQC serves an average daily census of about 1,800 patients through 17 locations covering a service area of over 50 counties in the Certificate of Need state, Addus says.

“The acquired operations are approximately 70 percent home health, including private duty nursing, and 30 percent hospice care, expanding our market coverage to all three levels of care in the state,” Addus CEO Dirk Allison says in a release. The acquisition from American Health Partners should add about $40 million in annual revenues, the company says. Addus operates in 22 states.

And in Idaho, The Pennant Group Inc. has acquired Bluebird Home Health, Bluebird Hospice, and Bluebird Home Care, which provides skilled home health, private duty, and hospice services across the southwestern part of the state, for undisclosed terms, the Eagle-based chain says in a release. Pennant bought the agencies from senior living company Cascadia Healthcare. Pennant operates in 14 states.

More recent deals and developments across the nation include:

In Virginia: Blue Ridge Hospice has “significantly expanded its services in Loudoun County” including offering inpatient care at Inova Loudoun Hospital in Leesburg and opening a new office in Lansdowne, it says in a release. The non-profit was founded in 1981.

In Alabama: Aveanna Hospice has opened a new location in Greenville, The Greenville Advocate reports. In 2017, private equity firms Bain Capital Private Equity and J.H. Whitney Capital Partners and mezzanine finance firm Penfund acquired Aveanna Healthcare, reports mergr.com.

In Rhode Island: Seventeen-state chain Elara Caring has acquired Assisted Daily Living, a 50-person, skilled home health provider based in Warwick, the Dallas-based company says in a release. In 2018, private equity firms Blue Wolf Capital Partners, Kelso & Company, and HarbourVest Partners, and asset manager Athyrium Capital Management acquired Elara, reports mergr.com.

In Indiana: Midwest home health company PurposeCare has acquired Scott’s Home Healthcare in Kokomo, which will be absorbed into a new Kokomo branch, and Attentive Personal Care in South Indianapolis, which will be absorbed into a new South Indianapolis branch. PurposeCare, which is backed by Lorient Capital, has also opened new offices in Jeffersonville and Lafayette, the Chicago-based company says in a release.

In Ohio: PurposeCare also has acquired The Choice Nursing Care & Home Health in South Euclid, which will be absorbed into the Cleveland office. “This is part of our strategy to build depth in our established markets,” PurposeCare CEO Rich Keller says in the release.