Home Health & Hospice Week

Plus: BAYADA forges joint venture with health system.

A 17-state chain with private equity backing has acquired a five-state regional player.

Dallas-based Traditions Health has bought for un­disclosed terms Homestead Hospice, which operates 26 offices across Georgia, South Carolina, Alabama, Ohio, and Arizona, Traditions says in a release.

“The combination with Homestead strategically strengthens Traditions’ footprint in the southeast, most notably in Georgia and South Carolina,” says the company backed by Dorilton Capital. “Traditions is also adding a new footprint in Alabama, its seventeenth state,” it says.

Traditions Health has made a steady string of acquisitions over the past few years. The latest was the purchase of Scottsdale, Arizona-based Family Comfort Hospice in October.

Other recent deals across the nation include:

In Pennsylvania: The Care Team, a home health and hospice provider operating in Michigan and Texas, has acquired Arcadia Hospice of SEPA in Allentown, the Farmington Hills, Michigan-based company says in a release. The transaction is TCT’s second acquisition since partnering with Denver-based PE firm Revelstoke Capital and will serve “as a key foundation for geographic expansion and the development of national scale,” according to the release.

In Ohio: Chicago-based Help at Home is entering the Ohio market with its acquisition of Prime Home Care in Maineville for undisclosed terms, Help at Home says in a release. Prime has nine locations in the state. Help at Home is backed by New York PE firm Centerbridge Partners and Chicago investment firm the Vistria Group, the 13-state chain notes.

In New Jersey and Pennsylvania: BAYADA Home Health Care and Jefferson Health have agreed to form a joint venture “that will catalyze post-acute care and digital health transformation for Jefferson patients in New Jersey and Pennsylvania,” the companies say in a release. Jefferson Health at Home will “launch bold and innovative digital health care experiences at home — where people want to be most,” says BAYADA CEO David Baiada in the release. “The pandemic heightened demand for hospital services delivered at home,” Jefferson health President Bruce Meyer says in the release. “With BAYADA and Jefferson aligned, we’re able to leverage their best post-acute-care practices across an expanded geographic footprint while lowering the total cost of care without compromising access or quality.”

In California: Aveanna Healthcare Holdings Inc. has acquired private duty company Accredited Home Care in Southern California for a base purchase price of $180 million, plus up to $45 million based on 2021 volume targets, Atlanta-based Aveanna says in a release. Accredited has five offices in Los Angeles, Orange, and San Diego counties, had about $114.8 million in revenue for the year ended Aug. 31, and derives 86 percent of its revenues through Medicaid or other state-funded programs, Aveanna says.