Home-based provider New Day Healthcare announced Wednesday it agreed to obtain Heritage Home Healthcare and marks its first foray into the new state.
With a team of over 900 caregivers, Heritage Home Healthcare provides home care, hospice and skilled nursing services to more than 1,100 patients every day in New Mexico. The acquisition brings the total number of New Day transactions to 15.
“We are delighted to partner with the Heritage Home Healthcare team,” said G. Scott Herman, founder and CEO of New Day, in a statement. “We have been familiar with the company since 2016 and, coupled with their reputation (patient first) culture, their constant pursuit of high quality care delivery and excellence are perfectly in line with the health care of the new day.”
Based in Texas, New Day Healthcare offers home health, hospice, pediatric, clinical decision support and personal care services in Texas, Missouri, Kansas, Illinois and now New Mexico. The company's 10,000 team members serve approximately 180,000 patients a year.
Heritage Home Healthcare continues to operate under its current brand. Heritage's new day plan for “continuous expansion across multiple service lines.”
“There's a deep-rooted home care presence in Heritage,” Matthew Griffith, Chief Development and Strategy Officer at New Day, said in a statement. “New Day implements a continuous model along with our own Carelytics software to improve organic growth and patient care workflows,” says Griffith. New Day's Platform is built to scale and allows for successful expansion into additional regions. ”
In April, New Day expanded its Texas footprint with the acquisition of Houston-based personal care provider Patient Recovery Home Health Services. In February, New Day acquired Christian Senior Care Services, a Houston-based home-based care provider.
The company describes its acquisition strategy as “discipline.” To promote its acquisition plan, New Day closed its $125 million senior credit facility at First Citizens Bank in November.
Heritage Home Healthcare transactions are expected to close in July. Financial details have not been revealed.
