Home Health & Hospice Week

LHC expects the acquisition to add $146 million in annual revenues, it says. “The company has now acquired or announced $308 million in M&A activity year-to-date,” it notes.

“This acquisition marks LHC Group’s initial entry into two new states — Minnesota and New Mexico — and expands its service areas in states where the company already operates,” the chain adds. The agencies will continue to operate under their existing brands and locations, with their names using either the Brookdale or Nurse On Call names.

LHC isn’t done yet, though. After the Brookdale announcement, LHC also revealed it will purchase Generations Home Health and Freda H. Gordon Hospice and Palliative Care, both in Virginia Beach, Virginia, the chain says in a release. “The agencies will continue operating under their current names,” LHC notes.

“The acquisitions align with the company’s co-location strategy to provide multiple in-home healthcare services in certain markets, as well as its strategy of retaining and operating under a family of well-known local brands,” the release adds. LHC expects to add about $7 million in annualized revenue from the deals.

Overall, LHC has about 30,000 employees and operates in 35 states and the District of Columbia, “reaching 60 percent of the U.S. population aged 65 and older,” the company notes.

Other recent M&A developments include:

In Texas: The Pennant Group Inc. has acquired the assets of Open Heart Hospice in Amarillo. The acquisition will operate under the name Kinder Hearts Hospice of Amarillo, the Eagle, Idaho-based chain says in a release. “We are excited to expand our presence into the Texas Panhandle,” Pennant CEO Danny Walker says. “With affiliate operations in Abilene, Lubbock, and Wichita Falls, this acquisition is an excellent fit for our cluster model and opens the door to further expansion and long-term growth opportunities in the region,” Walker adds in the release. Pennant operates 87 home health and hospice locations in 14 states.

Also in Texas: Charter Health Care Group has acquired Genesis HospiceCare in Athens and Saints Hospice in Plano, Charter private equity parent Pharos Capital Group says in a release. Charter now serves more than 5,000 patients in seven states, physician-founded Pharos says.

In Kansas and Missouri: Traditions Health has acquired the Kansas City operations of Lumicare Hospice, the College Station, Texas-based company says. “The multi-state footprint strategically expands Traditions’ presence to two new states,” the release notes. Traditions Health is a portfolio company of private investment firm Dorilton Capital and furnishes care to more than 5,000 patients across sixteen states, it says.

In North Carolina: Sampson Regional Medical Center in Clinton is shuttering its Sampson Home Health division on Sept. 27, the hospital says. The staffing shortage brought about by COVID-19 is a major contributor, reports The Sampson Independent newspaper. “The closure of home health services will allow the hospital to consolidate resources and redeploy staff where the needs are greatest and most critical,” a hospital release says.