Literature Review

Inside Amazon's strategy to partner with digital health companies Modern Healthcare; by Brock E.W. Turner; 4/15/25 While Amazon's splashy acquisitions have generated significant buzz, a foundational piece of the technology and e-commerce giant's healthcare business is focused on partnerships with digital health companies. Amazon launched its Health Benefits Connector in January 2024 with digital health unicorn Omada Health for patients with high blood pressure and diabetes. The service allows users to input information about their insurance plan and potentially identify covered services from Amazon’s partners. 

DOJ’s lawsuit against Amedisys, UnitedHealth Group set for mediation Hospice News; by Jim Parker; 4/14/25 The U.S. Department of Justice’s (DOJ) lawsuit against Amedisys Inc. (NASDAQ: AMED) and UnitedHealth Group (NYSE: UNH) will go to mediation on Aug. 18. The DOJ sued the two companies starting in November of last year to block the UnitedHealth Group subsidiary Optum from acquiring Amedisys due to antitrust concerns. The case will now go to a mediation conference before a magistrate judge. ... DOJ’s chief concern is that the combination of the two companies would dampen competition in the hospice and home health space. Should the transaction proceed, Optum would control 30% or more of the home health or hospice services in eight states, according to the complaint. 

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:

Compassus, Providence JV gains ground after concerns Home Health Care News; by Audrie Martin; 3/28/25 In February, Providence, a not-for-profit health system serving the Western U.S., and Compassus, a national provider of integrated home-based care services, completed the first phase of a joint venture (JV) focused on home health, hospice and community-based palliative care. However, Providence employees expressed concerns regarding cost-cutting measures and staffing issues. Specifically, critics of the JV voiced concerns that the deal would result in cost-cutting measures, increased staff workloads and reduced patient services. Compassus senior vice president and chief marketing and communications officer, Kathleen Winn, told Home Health Care News that partnerships like Compassus’s JV with Providence greatly benefit hospitals and health systems by allowing patients to move from an inpatient environment to home-based care and avoiding readmissions through careful monitoring. [Continue reading ...] 

Global Partners in Care, Elea Institute partner to improve palliative care access worldwide Hospice News; by Jim Parker; 3/21/25 Global Partners in Care (GPIC) and Elea Institute have formed a partnership designed to extend access to palliative care services worldwide. The two organizations are currently working to convene teams of experts to meet in Dublin, Ireland, later this year. These experts will design a tangible framework for addressing barriers to palliative care access globally, including increasing awareness, workforce development, identifying policy and research gaps and preparing future leaders, according to John Mastrojohn III, CEO and president of Global Partners in Care. 

Walgreens sells to private equity firm Sycamore Partners Healthcare Brew - Pharma; by Nicole Ortiz; 3/11/25 Since December, rumors have floated around that Walgreens was going to be acquired by private equity (PE) firm Sycamore Partners. And while analysts told Healthcare Brew at the time that it was unlikely to happen, the tides appear to have turned in the PE company’s favor. On March 6, Walgreens Boots Alliance announced in a press release that it had signed a definitive purchase agreement with Sycamore for up to $23.7 billion. However, when Walgreens’s debts and assets to be potentially divested are taken out, the total sale price is actually closer to around $10 billion, per the ll Street Journal, turning the retailer into a private entity after nearly a century as a public company.

New Day Healthcare acquires Patient Recovery Home Healthcare Services Hospice News; by Jim Parker; 3/12/25 The Texas-based home-based care provider New Day Healthcare has acquired the home health agency Patient Recovery Home Healthcare Services in Houston. Financial terms were undisclosed. The transaction marks New Day’s 14th successful acquisition to date and comes approximately one month after it acquired Christian Senior Care, also in Houston. Patient Recovery Home Healthcare has been in operation for 15 years and will not rebrand post-acquisition. The company’s current staff will remain in place, according to New Day. 

13 hospital transactions in 1 week Becker's Hospital Review; by Madeline Ashley; 3/4/25 The end of February into early March saw a wave of hospital transactions, signaling a shift in healthcare ownership and operations across the country. Below are the 13 hospital transactions that Becker's has reported on since Feb. 27:

Uplift Hospice acquires Star of Texas Hospice News; by Jim Parker; 3/5/25Uplift Hospice has acquired Star of Texas Hospice. Financial terms were undisclosed. The transaction will bring Uplift’s average daily census up to 450 across three states — Arizona, Nevada and Texas. The two organizations first connected to discuss a potential transaction through a mutual relationship with the M&A advisory firm Agenda Health, according to Uplift Hospice’s CEO Owen Lawrie.

The Pennant Group to ramp up hospice, home health transactions during 2025 Hospice News; by Jim Parker; 2/28/25 The Pennant Group (Nasdaq: PNTG) plans to ramp up acquisitions later this year as it works to integrate assets purchased in late 2024. Among those deals was The Pennant Group’s acquisition of Signature Healthcare at Home’s hospice and home health assets for a price tag of $80 million which closed in January. The company also completed some senior living transactions. Pennant is on the hunt for more deals but will likely be more active later in the year. 

Shareholder payouts among large publicly traded health care companiesJAMA Internal Medicine; Victor Roy, MD, PhD; Victor Amana, MPH; Joseph S. Ross, MD, MHS; Cary P. Gross, MD; 2/25There is growing concern that a large proportion of US health care spending appears to be directed to corporate shareholders rather than enhancing affordable access, improving quality of care, or advancing research and development. Total shareholder payouts from S&P 500 health care companies have more than tripled in the past 20 years. Payouts were concentrated among a small number of companies, with the pharmaceutical, biotechnology, managed care, and health care equipment and supplies subindustries distributing the largest amounts. Given greater health care affordability challenges for US households and the major role of federal and state governments in financing the health care sector, shareholder payouts have critical implications for stakeholders, especially patients. Increasing capital distributions to shareholders of publicly traded companies may be associated with higher prices and may not be reinvested in improving access, delivery, or research and development.

UnitedHealth Group's year of DOJ probes, layoffs and backlash Modern Healthcare; by Lauren Berryman; 2/24/25 UnitedHealth Group has faced an unprecedented past year, navigating events that have tested its finances, operations and reputation. Here is a timeline of key events during the company’s past 12 months. [Click here and scroll down to the timeline with links to Modern Healthcare's articles through the year.]