Hospice News

MAY 12, 2023

Established in 1979, the nonprofit organization provides hospice and palliative care in three counties near the San Francisco area of northern California. The hospice company is accused of violating the California Labor Code that stipulates employers must provide sick leave to workers. Community Hospice, Inc.

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Hospice News

JUNE 29, 2023

The company’s net service revenue reached $251.6 Its hospice segment represented $49.08 Acquisitions contributed about $65 million to Addus’ bottom line in 2022. The company purchased Illinois-based hospice provider JourneyCare Inc. The company purchased Illinois-based hospice provider JourneyCare Inc.

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Hospice News

JANUARY 26, 2024

Rebranding a hospice company following a merger or acquisition is a more complex process than it may seem at first blush. And although not all acquired companies rebrand, many do in order to create a unified identity or reflect a broader suite of services.

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Hospice News

APRIL 6, 2023

Kevin Sarkisyan, of San Gabriel Hospice & Palliative Care, pleaded guilty to one count of conspiracy to defraud the government for his involvement in submitting false enrollment applications to Medicare that hid the “real owners of a hospice company,” according to court documents.

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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

SEPTEMBER 12, 2023

The move comes nearly a year after California-based Guaranteed launched in August 2022, when founder and CEO Jessica McGlory began her own provider company two years after her father passed away. SCAN Group, parent company of SCAN Health Plan, is the latest investor in the hospice company.

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Hospice News

APRIL 25, 2023

Current and former employees of California-based Community Hospice, Inc. The hospice company is accused of violating the California Labor Code that stipulates employers must provide sick leave to workers. Community Hospice, Inc. did not respond to Hospice News’ request for comment.

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Hospice News

JANUARY 31, 2024

The Texas-based home health and hospice company VitalCaring Group was built largely through acquisitions, and the company expects to step up that strategy in 2024 with an emphasis on hospice. When they start to exit, the basis that those private equity sponsors have those businesses is at 16x to 18x.

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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

JULY 3, 2023

In January, hospice organizations began sounding the alarm on similar activity in other states — Arizona, Texas and Nevada. Arizona had 239 new Medicare-certified hospices appear between 2018 and 2022, representing 52% of all providers in the state.

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Hospice News

NOVEMBER 8, 2023

(NYSE: EHAB) is continuing to mull over a potential sale, with executives providing few details as the company determines its next steps. The Dallas-based home health and hospice company has been digging into a strategic review process since August that could result in a possible sale or merger of some or all of its assets. “As

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Hospice News

FEBRUARY 20, 2024

Having a window into priorities such as career development and work-life balance is a significant retention factor for the Dallas-based home health and hospice company, Marion indicated. This is down from 54% of respondents in 2023’s survey and 68% of 2022 respondents. NYSE: EHAB).

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Hospice News

APRIL 26, 2022

Nurse practitioner Raphael and registered nurse Britt Akobundu, a married couple, launched San Diego-based Blue Monarch Hospice this past March, with the intent of improving the quality of life for not only patients and families, but also health care workers. . We started in March 2022 and are very much still in the startup phase.

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Hospice News

MARCH 20, 2023

Regardless of providers’ disparate methods, hospice remains a high-growth industry, expanding at an annual rate of 7% to 8% annually, Bank of America (BofA) Global Research reported in TKTK. By 2030, the hospice market’s total dollar value is expected to nearly double, reaching $64.7 billion, up from $34.5

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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

DECEMBER 12, 2022

Though hospice deal volume dipped in 2022 compared to previous years, five particular transactions could paint a larger picture of where investors see value in the space. These interesting, unusual or groundbreaking deals could signal what’s to come in 2023 and help shape the hospice market’s long-term future. s (NYSE: HUM) $2.8

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Hospice News

NOVEMBER 14, 2022

Labor shortages and other headwinds have battered hospices during 2022, including large companies. 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%).

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Hospice News

JUNE 16, 2022

Meanwhile, investors that are snatching up hospice acquisitions have increasingly seen value in selling them off, continued Kulik. Some are divesting to unlock the value of having a separate home health and hospice company,” Kulik said. High price tags for hospice assets are sparking some to take a seat at the sellers’ table.

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Hospice News

AUGUST 15, 2022

I want to say back when we acquired the home health and hospice company, I think there were only about 20 locations, and we now have 100 locations. We have been growing the hospice service line. So between acquisitions and de novos, we see ourselves continuing to grow Enhabit’s hospice service line.

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Hospice News

DECEMBER 13, 2022

Industry-wide, these bonuses in 2021 averaged from $2,038 for hospice aides to $9,056 for executive leaders, according to the 2022-2023 Hospice Salary & Benefits Report , published by Hospital & Healthcare Compensation Service (HCS) in cooperation with NAHC. The average bonus for registered nurses was $6,330. .

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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.

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Hospice News

OCTOBER 19, 2022

The company has pledged to deploy $50 million to $100 million on deals during 2022 and plans to open 10 new locations. Earlier this month, it acquired Caring Hearts Hospice in Texas for an undisclosed amount. . There are a lot of home health and hospice companies where the idea is just to get bigger and put more dots on the map.

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Hospice News

JUNE 22, 2023

This has led many hospitals and health systems to make their own investments in home-based care , including hospice, a development that HCA CEO Samuel Hazen noted in a 2022 earnings call following the Brookdale deal. billion acquisition of the home health and hospice company LHC Group. This followed Humana Inc.’s

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Hospice News

JANUARY 19, 2023

The proliferation of new hospices in California, Texas, Arizona and Nevada has stoked concerns around potential fraud and other abuses. These same industry organizations in November 2022 called for greater federal oversight of hospice licensing practices in response to the issue.

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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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NHPCO

JANUARY 19, 2023

The recent entry of large numbers of newly created hospice organizations in several states has heightened long-standing concerns among hospice leaders (as shared with CMS in November 2022) about the adequacy of Medicare certification, accreditation, and enforcement processes.

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