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BrightSpring Health Services Completes Acquisition of Haven Hospice
BrightSpring Health Services (Nasdaq: BTSG) announced earlier this month that it had completed the acquisition of North Central Hospice and the assets of Haven Medical Group, which together make up Haven Hospice, for $60 million.
The deal was first announced in June and finalized on September 1st.
Importantly, the agreement will help BrightSpring strengthen its hospice footprint in Florida, a Certificate of Need (CON) state.
“We are pleased to welcome Haven Hospice to BrightSpring and expand our existing hospice services into the DRC, Florida,” BrightSpring president and CEO John Rousseau said in a statement. “The provision of compassionate hospice care is critical to patients and their families, and we are committed to providing it to Floridians in high need. Our hospice services are ranked in the top 5% for quality in the industry, and this expansion of our services into Florida will enable us to provide high-quality care to even more patients and their families during one of life’s most challenging times.”
BrightSpring has been on an aggressive acquisition spree since going public earlier this year. The Louisville, Kentucky-based company offers a wide range of home care services in all 50 states.
Compassus and OhioHealth Form Partnership
Compassus, one of the nation’s largest home health care providers, has entered into a partnership with OhioHealth.
Through this partnership, Compassus gained ownership of four home health care facilities and three hospice facilities previously led and managed by OhioHealth, a large not-for-profit health system.
The partnership between the two companies, dubbed OhioHealth at Home in partnership with Compassus, was originally announced in June.
“We are excited to partner with Compassus to officially launch OhioHealth at Home and provide high-quality, patient-centered home health and hospice care to our local communities,” Compassus CEO Mike Asselta said in a statement. “Our collaboration with the Marion, Central Ohio Lexington and Athens communities and OhioHealth hospitals will allow patients to receive seamless, comprehensive care in the comfort of their own home.”
Compassus provides home health care, home infusion, palliative care, hospice and residential care services in 30 states.
One of the drivers of the company’s growth over the years has been joint ventures and partnerships with large regional health systems such as OhioHealth.
Agape Care Group, a portfolio company of Ridgemont Equity Partners, has acquired Crossroads Hospice facilities in Oklahoma, Missouri, Kansas and Georgia.
Based in Spartanburg, South Carolina, Agape provides in-home hospice and palliative care services, and its family of brands already provides care in South Carolina, Alabama, Georgia, North Carolina, Kansas, Louisiana, Missouri, Oklahoma and Virginia.
Crossroads Hospice will continue to operate independently in Tennessee, Ohio and Pennsylvania.
“The acquisition of Crossroads Hospice solidifies our decision to expand into the Kansas, Missouri and Oklahoma markets, where we have spent more than a year building the infrastructure to support this acquisition,” Agape Care Group CEO Troy Yarborough said in a statement. “We look forward to welcoming Crossroads’ talented team members and focusing on delivering care and better serving patients in the Kansas City, St. Louis, Lenexa, Warrensburg, Oklahoma City and Atlanta markets.”
Advanced Home Healthcare Acquires Mobile Nursing Services
Advanced Home Health Care announced earlier this month that it had agreed to acquire Mobile Nursing Services, a Fort Madison, Iowa-based provider of home health care services.
Based in Burlington, Iowa, Advanced Home Health Care serves the entire southeastern part of the state.
“The acquisition will enable Advanced Home Health to combine resources to provide the high level of service Advanced Home Health and Mobile Nursing clients rely on in their own homes,” according to local reports.
Advanced Home Health offers a variety of in-home services, including home care, home health care and pediatric care.
Cardinal Health to acquire Integrated Oncology Network for $1.1 billion
Cardinal Health (NYSE: CAH) announced last week that it has agreed to acquire Integrated Oncology Network (ION), an independent, physician-led oncology network, for $1.115 billion.
Based in Dublin, Ohio, Cardinal Health is one of the largest healthcare companies in the U.S. The company has recently significantly expanded its home solutions business. The company is now focusing more on oncology and has shifted more to home and community-based settings in recent years.
ION has more than 50 locations across the country and offers a “comprehensive, integrated continuum of care” that includes diagnostic testing, radiation oncology, medical oncology, urology and other ancillary services.
As part of the transaction, ION will join Cardinal Health’s oncology practice alliance, Navista.
“Driving growth in specialties remains a top priority and we have made investments to expand our offerings through the acquisition of Navista and Specialty Networks,” Cardinal Health CEO Jason Holler said in a statement. “With the company’s proven model of broadly supporting community oncology across the cancer care continuum and healthcare ecosystem, we believe the Integrated Oncology Network will further accelerate our oncology strategy and create value for providers and patients.”
Part of ION’s business model is to “meet patients wherever they are.”
“Integrated Oncology Network and Cardinal Health share a mission to help local oncology practices provide world-class patient care and a world-class patient experience close to home to patients and their families,” ION CEO Barry Tanner said in a statement. “This partnership will give local practices the tools and technology they need to strengthen and grow their mission and positively impact patient outcomes.”
