Literature Review

Oregon Health Authority seeking public input on Providence home health and hospice deal Oregon Capital Insider; by Mia Maldonado; 6/18/25 The Oregon Health Authority is seeking public input on a proposal from Compassus, a home health provider, to acquire 50% of Providence Home Health and Hospice in Oregon. Under the proposal, the for-profit company would take over management of Providence’s Oregon home health and hospice agencies operating in Beaverton, Hood River, Salem, Seaside, Silverton/Mt. Angel, Medford, Newberg, Oregon City and Portland. The Oregon Health Authority hopes to receive public comment from patients and caregivers of patients who have received home health or home hospice services from Providence. The agency wants to hear about Oregonians’ experiences with Providence and any thoughts about the proposed deal.

Willamette Vital Health completes affiliation with Chapters Health System Hospice News; by Jim Parker; 6/6/25 Oregon-based Willamette Vital Health has completed its affiliation with Chapter Health System. Willamette now becomes part of Chapters Health West, an extension of Florida-based Chapters’ footprint into Nevada, California and Oregon. Chapters Health West came into being with the affiliation of four hospices with Chapters, including Nathan Adelson, California-based Hospice of Santa Cruz County and Hospice East Bay and Willamette. The organization is the second to complete an affiliation with Chapters. Las Vegas-headquartered Nathan Adelson was the first to complete in April. 

Ethics talk: Are private equity investments really different from other ownership structures in health care?AMA Journal of Ethics, Podcast May 2025; by Robert I. Field, PhD, JD, MPH; 5/30/25Dr. Robert I. Field joins Ethics Talk to discuss whether and to what extent private equity firms’ increasing presence in health care deserves our scrutiny and what policy makers, clinicians, and patients should know about responding to private equity ownership stakes in the organizations where they work and where they go for health services. 

Valir PACE acquires Cherry Blossom PACE in Alexandria, Virginia - expanding quality senior care in Northern VirginiaKTLA-5 Los Angeles and CISION PR Newswire, Oklahoma City, OK; by Valir PACE; 5/22/25Further expanding its footprint in the senior care market, Valir PACE, a recognized leader in the Program of All-Inclusive Care for the Elderly (PACE), has acquired Cherry Blossom PACE from One Senior Care. This strategic acquisition strengthens Valir PACE's commitment to providing high-quality, comprehensive care to seniors in Northern Viriginia.

Exploring the impact of acquisition on quality of care among US home health agenciesHealth Services Management Research; by Debra Winberg, Jillian Torres; 5/25Throughout the United States and Europe, the home health care industry is rapidly consolidating, with merger and acquisition (M&A) activity on the rise. The consolidation of the industry raises questions about the impact that diminished competition may have on the quality of care being delivered. This study examines the impact of home health agency acquisition on quality of care among a sample of 10,184 home health agencies across the United States. Utilizing publicly available data from the Outcome and Assessment Information Set (OASIS) and the Home Health Consumer Assessment of Healthcare Providers and Systems (HHCAHPS) from 2018 to 2022, this study investigates changes in clinical outcomes, organizational process measures, and patient experience. The findings suggest there is a modest 1.07 percentage point improvement in process measures post-acquisition, but no significant changes in outcome or patient experience measures among the 169 agencies that were acquired during the study period. These findings suggest that, while integration has the potential to modestly improve home health process efficiency, there is very little benefit to patients.

OHSU, Legacy walk away from merger Becker's Hospital Review; by Kelly Gooch; 5/5/25 Oregon Health & Science University and Legacy Health, both based in Portland, said May 5 that they mutually agreed to terminate their planned merger. ... Neither system provided additional details on the reasoning behind their decision. The combined system under OHSU Health would have covered 12 hospitals and more than 32,000 employees, and been one of Oregon’s largest service providers to Medicaid members. As part of the merger, OHSU had said it would invest about $1 billion over a decade to support primary care and community-based services that would be part of the combined system. Editor's note: OHSU provides palliative care and Legacy Health provides palliative and hospice care.

Amedisys deal would bring BrightSpring into range of new marketsHospice News; by Jim Parker; 5/5/25 ... Amedisys is selling an unspecified number of home health and hospice locations to Adoration Home Health Acquisitions, LLC, Adoration Hospice Care Acquisitions, LLC, and Senescence, LLC, DBA All Saints Hospice. These three companies are all affiliates of BrightSpring Health Services (Nasdaq: BTSG). ... Few details about the Amedisys-BrightSpring transaction are available due to confidentiality agreements among the parties, according to BrightSpring CEO Jon Rousseau. However, the acquired locations could greatly expand the company’s service region. ... BrightSpring is a home- and community-based health care services platform that serves more than 400,000 patients daily across all 50 states. ... BrightSpring’s provider services segment brought in $346 million in revenue during Q1, up 12.5% year over year. The segment includes the company’s home health, rehab services and personal care businesses. Its home health business is inclusive of hospice and home-based primary care. ... Looking ahead, the company plans to be conservative when it comes to acquisitions beyond the potential Amedisys deal, according to [Bright Spring CEO Jon] Rousseau.

Top 50 Hospice Providers report now availableHospice News - Flagship Report; 4/30/25The hospice sector has undergone dramatic changes in recent years. Once a nonprofit, volunteer-driven movement, the industry is now a landscape dominated by for-profit entities, private equity, and publicly traded companies. This shift is reshaping care delivery, reimbursement models, and the competition that exists in end-of-life care. Hospice News partnered with Hospice Analytics to rank the largest hospice chains by 2023 Medicare claims. Using proprietary data, including Medicare payments and SEC filings, the report tracks changes in ownership and acquisitions, offering a comprehensive view of the industry landscape. Dive into the data and insights to better understand the evolving dynamics of the hospice industry.Editor's note: The "top" hospice providers is based on the size of chains, not on quality scores. Hospice Analytics--partner for this project--provides quality scores for these through its National Hospice Locator. (Hospice Analytics is a sponsor for this newsletter.)

Providence's push to hand off hospice, home care in Oregon to Tennessee firm gets closer look The Lund Report - Independent health news for Oregon and SW Washington; by Jake Thomas; 4/22/25 Providence Health, Oregon’s biggest provider of home health and hospice services, wants to put a private equity-backed company in charge of those operations. But the plan could negatively affect the care of thousands of Oregonians, according to a new state report. The program that reviews large health care mergers and other deals has launched a six-month review of Providence’s proposed transaction with Tennessee-based Compassus and issued an initial report that analyzed the potential effects. Compassus is partly owned by private equity firm TowerBrook Capital Partners, L.P. ... Under the new 180-day review, the state will conduct a more in-depth evaluation of the deal and its potential effects on costs, care quality, access and workplace conditions. That’s in keeping with the 2021 law creating the program, which is considered the nation’s toughest.

Healthcare trends & transactions Q1 2025 JD Supra; by Bass, Berry & Sims PLC; 4/17/25 [Scrolling down to section titled, "Home Health, Hospice Care & Personal Care Services"] ... The notable uptick in M&A activity in this sector began in January, as several significant transactions were finalized.

Aveanna CEO Jeff Shaner: Medicaid uncertainty detrimental to markets Home Health Care News; by Audrie Martin; 4/16/25 Earlier this month, Aveanna Healthcare Holdings (Nasdaq: AVAH) announced plans to acquire Thrive Skilled Pediatric Care for $75 million. ... This expands Aveanna’s private-duty services, home health and hospice care, and medical solutions in 27 states. ... Home Health Care News spoke with Aveanna CEO Jeff Shaner about this acquisition, future M&A plans, the impact of potential Medicaid cuts and the value of home-based care. ... Shaner: Regarding the broader M&A strategy, I would say M&A is not our core strategy; caring for pediatric, adult and geriatric patients remains our core mission. However, enhancing our growth profile through add-on acquisition strategies, primarily in our Medicaid business, private-duty service business like Thrive, and home health and hospice businesses, is our focus in 2025 and 2026. ... However, the uncertainty regarding Medicaid and federal funding prompts us to reconsider any long-term investments and ensure we have strategically contemplated the reasons for such investments. 

Hospice M&A sees uptick in Q1 2025Hospice News; by Jim Parker; 4/10/25Hospice acquisitions saw a gentle rebound in Q1 2025. Deal volume is up relative to 2024’s slump, but activity has not reached the boom levels of 2020 and 2021. The M&A market’s rejuvenation extends across a range of home-based care industries, according to a new report from the M&A advisory firm Mertz Taggart. The “tides have turned,” with a total 29 home-based care transactions during Q1, the most active quarter since 2023, the report indicated... Some of the more significant disclosed deals included the following: