Hospice News

FEBRUARY 21, 2023

. “Where we’re at right now, and what the ownership structure looks like, it just provides more latitude for us to spend more time doing that and less time on some of the things that are necessary for certain organizations, depending on whether they are privately held or publicly traded,” James told Hospice News.

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Hospice News

DECEMBER 31, 2024

Care Synergy emerged in 2021 as a regional collaborative of hospice companies. Its affiliates include the Colorado Visiting Nurse Association (CVNA), The Denver Hospice, Pathways, Colorado PACE and Pikes Peak Hospice and Palliative Care.

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Hospice News

NOVEMBER 14, 2022

The post As Headwinds Rage, Large Hospice Companies Lay Groundwork for Potential 2023 Growth appeared first on Hospice News. “Our disciplined approach has put us in a strong position to take advantage of future acquisition opportunities,” CEO Dirk Allison said. “We

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Hospice News

FEBRUARY 4, 2025

Fichidzhyan was among the five individuals that the FBI arrested in June 2024 in connection with the hospice fraud and money laundering scheme. Fichidzhyan, Juan Carlos Esparza and Karpis Srapyan allegedly owned and operated a series of hospice companies that they falsely claimed were owned by foreign nationals, according to the U.S.

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Hospice News

DECEMBER 4, 2024

Tutera Senior Living & Health Care and Residential Home Health and Hospice have expanded their existing partnership to offer hospice care in the Kansas City, Missouri, region. This latest move adds hospice to the mix.

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Hospice News

JANUARY 31, 2025

Even if you aren’t ready yet to step outside of the hospice box, diversification is possible within the hospice payment system. These types of programs have proliferated among hospice companies in recent years.

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Hospice News

JANUARY 23, 2025

Montana-headquartered Stillwater Hospice has found a successful rhythm to strategic rural-based growth and sustainability. Launched in 2017, the hospice company serves predominantly rural-based populations in Montana, northern Wyoming and South Dakota.

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Hospice News

AUGUST 23, 2024

According to her LinkedIn profile, she is also an operating partner for the private equity firm The Vistria Group, which has a history of investing in home health and hospice companies. The parent company also operates the United Kingdom-based home care company Bluebird Care and the Australia-based Just Better Care.

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Hospice News

JULY 26, 2024

Additional charges were issued to medical industry marketer Callie Jean Black, 65, who allegedly recruited patients for the hospice companies in exchange for illegal kickbacks, the Justice Department reported. The charges also included the owner of the two hospice companies, Juanita Antenor, 61, who remains at large.

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Hospice News

FEBRUARY 20, 2024

A federal jury has convicted Dr. John Thropay, a hospice medical director, on charges of health care fraud in a $2.8 Thropay was the medical director of several hospice companies, including Blue Sky Hospice, based in Van Nuys, California. million scheme.

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Hospice News

MARCH 18, 2025

When considering transactions, the company seeks out often struggling companies in its existing or expanded markets that earn between $3 million and $10 million in revenue and sell at a multiple of 5x to 8x for hospice companies.

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Hospice News

JULY 12, 2022

Joint ventures allow providers to pool clinicians to work across a variety of settings, according to Freeman Smith, president of the north region of Traditions Health, a portfolio company of Dorilton Capital Advisors.

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Hospice News

JUNE 10, 2024

The arrests took place in California, a state that has been rife with hospice fraud in recent years, along with Arizona, Texas and Nevada. Petros Fichidzhyan, Juan Carlos Esparza and Karpis Srapyan allegedly owned and operated a series of sham hospice companies that they falsely claimed were owned by “foreign nationals,” according to the U.S.

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Hospice News

OCTOBER 30, 2023

He previously served in the c-suites and boards of a number home health and hospice companies. There, he led a range of growth initiatives, including mergers and acquisitions and joint venture transactions, according to a press release from Compassus.

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Hospice News

JANUARY 9, 2025

VITAS operates 55 hospice programs in 15 states and has 11,679 employees. The company has an average daily census of 21,977 and operates 27 inpatient hospice units across its geographic service area.

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Hospice News

JUNE 8, 2022

Competition with travel nursing firms has been among the drivers of wage increases for hospice companies. Acquisitions remain an important part of the company’s growth strategy as it seeks to co-locate each of its three business lines in the markets it serves. in February.

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Hospice News

SEPTEMBER 29, 2023

A federal judge has sentenced Jesus Virlar-Cadena, formerly a medical director for the Texas-based hospice company Merida Group, to 50 months in prison for his role in a $152 million scheme. The court also ordered Virlar-Cadena to pay $9 million in restitution and $9 million in forfeiture.

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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.

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Hospice News

AUGUST 30, 2024

VITAS is the largest hospice company in the nation by market share, according to 2022 data from LexisNexis. A crucial component of this kind of supportive culture is open lines of communication between employees and senior management, according to executives at VITAS Healthcare, subsidiary of Chemed Corp. NYSE: CHE).

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Hospice News

APRIL 5, 2023

How did 1Care Hospice & 1Care Kids get up and running as a nurse-led company? The owners of this company have been partial owners at various different hospice companies. Some companies sold off to others, and then they began a solo venture of their own. 1Care was their first venture.

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Hospice News

JUNE 28, 2024

The Texas-based home health and hospice company VitalCaring Group was built largely through acquisitions. VitalCaring was formed in July 2021, when the private equity firms The Vistria Group and Nautic Partners began acquiring home health and hospice agencies throughout the South and Southeast.

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Hospice News

SEPTEMBER 7, 2022

Some hospice company leaders have signaled the labor market may be showing signs of stabilization.

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Hospice News

JUNE 21, 2023

Referral rejection rates among hospices reached a record high of 41% last year, according to data from CarePort, a WellSky company. While some hospice companies have reported hiring and capacity gains in recent months, often driven by bonus programs, the problem persists for many providers.

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Hospice News

DECEMBER 22, 2023

The close of the years also saw some earnings stabilization among publicly traded companies. Most of the major public hospice companies saw revenue increase year-over-year and sequentially during 2023, with one or two outliers. Trends like these are often solid indicators that M&A might pick back up, according to PwC.

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Hospice News

MARCH 1, 2024

In case you missed it, Hospice News has launched a new specialty publication for palliative care professionals. Frontpoint Health has completed its acquisition of the Texas-based home health and hospice company High Plains Senior Care Group (HPSC). You can subscribe to Palliative Care News here: Subscribe today!

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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 5, 2022

“From a competitive standpoint, offering daily pay can help to attract the workforce faster and longer,” Walden told Hospice News. “If

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Hospice News

JUNE 26, 2023

This marks Optum’s second purchase of a massive home health and hospice company, as the insurance behemoth continues to beef up its presence in the provider space, including its home-based capabilities. The UnitedHealth Group subsidiary closed its $5.4

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Hospice News

JUNE 5, 2023

This marks Optum’s second attempt to purchase a massive home health and hospice company. The post With Option Care Deal Pending, Optum Makes Bid for Amedisys appeared first on Hospice News. Amedisys notes that there can be no assurance that the discussions with Optum will result in a transaction.”

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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.

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Hospice News

JUNE 29, 2023

The company purchased Illinois-based hospice provider JourneyCare Inc. This year, the company has been weighting its deal pipeline more towards home health and personal care with less of a focus on standalone hospice companies, due to high valuations in the space. “In for an undisclosed sum the following month.

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Hospice News

APRIL 16, 2024

Among the company’s many large investments are acquisitions of large home health and hospice companies. We’ve made substantial progress, and we will not rest until care providers connectivity needs are met.” This followed its $5.4 billion acquisition of LHC Group, which closed last February.

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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. The close of the years also saw some earnings stabilization among publicly traded companies. Only LPNs and LVNs had higher rates, reaching 31.52% turnover and 25.12% for vacancies.

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Hospice News

JULY 3, 2023

A number of companies advertise their licenses on websites designed to connect buyers and sellers across a range of industries, including hospices. On two of these sites combined, close to 200 hospice companies had posted about licenses for sale, with most asking for prices in the vicinity of $300,000 to $350,000.

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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. .

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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

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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