Hospice News

FEBRUARY 26, 2024

While some hospice companies reported hiring and capacity gains in 2023, often driven by bonus programs, the problem persists for many providers. Transaction volume declined in the hospice and home-based care space in 2023, following the two record-breaking prior years.

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Hospice News

OCTOBER 26, 2022

According to court documents, between January 2018 to in or May 2021, the defendants allegedly used the two Los Angeles-based hospice companies to submit more than $9 million in false and fraudulent claims to Medicare.

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Hospice News

AUGUST 22, 2022

Amazon and UnitedHealth — which is in the process of acquiring the home health and hospice company LHC Group (NASDAQ: LHCG) — reportedly have made the largest bids. None of the companies are commenting to the media about a potential sale or bids. Signify earned $246.2

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Hospice News

APRIL 5, 2023

This has been the case for Nevada-based 1Care Hospice & 1Care Kids, particularly as they contended with the pandemic and widespread workforce shortages, according to COO Eddie Belluomini. A group of hospice and palliative care leaders with nursing experience established 1Care in October 2020. 1Care was their first venture.

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Hospice News

JULY 21, 2023

In addition to those pressures, the industry is also in a cooling period in which companies focus on integrating the assets that many acquired during flurries of activity in 2021 and 2022, according to Mark Kulik, senior managing director at The Braff Group. The New York-based hedge fund owns 4.5%

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Hospice News

MARCH 17, 2023

The company has established a Net Zero Climate Transition Plan with an aim to achieve net zero greenhouse gas emissions from operations by 2050. Last year, the home health and hospice company released its first Environmental, Social and Governance (ESG) report that included data on its 2021 energy consumption as a benchmark.

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Hospice News

NOVEMBER 17, 2022

Rising interest rates and unlikely to deter investors or strategic buyers from acquiring hospice companies. Higher interest rates will push up borrowing costs, making hospices more expensive to purchase in the long-run. The Federal Reserve raised interest rates by 0.75% earlier this month. The rates now range from 3.75% to 4%.

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Hospice News

JUNE 16, 2022

The lines of investor interest in the hospice industry have been blurring over the past decade, according to Kulik. A total of 109 transactions in the hospice and home health space involved a hospital and health system from 2014 to 2021, according to market analysis data that The Braff Group shared with Hospice News.

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Hospice News

JUNE 22, 2023

SEIU analyzed Medicare claims data showing that the average hospice transfer rate among HCA hospital discharges was nearly 40% above the national average in 2021 and represented a 50% growth rate over four years. During the past several years, HCA has closed a number of home health and hospice acquisitions. More than 1.72

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Hospice News

JULY 19, 2022

For better or worse, the growing presence of large insurance companies in the hospice and home health provider space could be transformative for the industry. NYSE: HUM) in 2021 acquired 100% ownership of Kindred at Home from its former private equity partners Welsh, Carson, Anderson & Stowe and TPG Capital. Humana Inc.

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Hospice News

DECEMBER 21, 2022

Hospices simply did not have enough staff to meet demand, which drove some of them out of business. Executives from almost every publicly traded hospice company raised this issue in earnings calls and presentations throughout the year. s (NYSE: EHAB) hospice segment saw a 6.4% Enhabit Inc.’s million from i$52.8

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Hospice News

SEPTEMBER 2, 2022

While a range of publicly traded companies and private equity firms have nevertheless snapped up hospices in record numbers, the skyrocketing valuations have led some to wait it out for a price drop. NYSE: CHEM), and the nation’s largest hospice company by market share, according to LexisNexis.

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Hospice News

NOVEMBER 14, 2022

in the same period of 2021, according to research by Scott Fidel, analyst for Stephens. This has been a longstanding problem since the start of the pandemic, but average length of stay among the publicly traded firms tumbled at a faster rate in Q3 2022 (3%) than they did in the third quarter of 2021 (2%). The company saw a 10.6%

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Hospice News

DECEMBER 13, 2022

But questions linger about their long-term sustainability — and what will happen in the labor market when hospices start phasing the bonuses out. This year, the average hourly wage for hospice aides and CNAs rose 9.09% in 2022, compared to a 4.52% increase in 2021, and the rate for nurses rose nearly 6%, the salary report indicated.

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Hospice News

MARCH 20, 2023

During the past few years, a growing number of hospices have inked agreements to partner with hospital systems to deliver home-based care, often including palliative care or home health. Key examples of this strategy include home health and hospice company LHC Group, which was recently acquired by UnitedHealth Group (NYSE: UNH).

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Hospice News

AUGUST 3, 2022

Private equity hospice deals occurred in record numbers last year, according to data from the M&A advisory firm The Braff Group. Of the estimated 60-plus transactions during 2021, at least 39, or 65%, were private-equity based, a rise from 56% in 2020.

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Hospice News

DECEMBER 12, 2022

The home health and hospice provider has had a “dominating” presence in the hospice M&A market in recent years, Mark Kulik, senior director at The Braff Group, previously told Hospice News. Humana retained Kindred’s home health assets, as well as 40% of the hospice business. This was Humana Inc.’s s (NYSE: HUM) $2.8

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Hospice News

DECEMBER 19, 2022

In 2022, the hospice community laid the groundwork for a transformational 2023. During late 2021 and 2022, the U.S. Centers for Medicare & Medicaid Services (CMS) developed new approaches for enforcing hospice regulations that will become effective on Jan. 3–6 Big Provider, Payer Hospice Deals. s (NYSE: HUM) $2.8

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Hospice News

JUNE 23, 2022

Despite a cool down in the hospice mergers and acquisitions market during the first quarter of 2022, private equity firms have stayed aggressive on deals. About 30% to 50% of home health and hospice transactions in 2021 involved private equity, according to the M&A advisory firm The Braff Group. Elizabeth Warren (D-Mass.),

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