Literature Review

Private equity group Waud Capital Partners acquires Senior Helpers McKnights Home Care, by Adam Healy; 3/21/24 Private equity firm Waud Capital Partners is acquiring Senior Helpers, a home care franchise company with nearly 400 locations in the United States, Canada and Australia, for an undisclosed amount, according to an announcement about the deal released Thursday. ... Advocate Health, which owns Senior Helpers, is the third-largest nonprofit health system in the US, according to a release. Senior Helpers provides wellness services such as meal planning, grocery shopping, medication management, transportation, companionship and assistance with activities of daily living. 

FTC and DOJ signal greatly increased scrutiny of private equity firms’ acquisitions in healthcare 

Fitch: Scrutiny of private equity deals is short-term positive Modern Healthcare, by Hayley Desilva; 3/18/24 Increased federal scrutiny of healthcare mergers and acquisitions is expected to have mixed consequences for providers' credit, particularly when private equity buyers are involved, according to Fitch Ratings. ... In December, the [Federal Trade Commission] FTC updated its merger guidelines to foster competition across all industries, including healthcare. However, healthcare acquisitions are expected to increase this year as financial conditions improve.

[UPDATED] Skilled Nursing giant PACS Group files for IPO as it looks to expand footprint Skilled Nursing News, by Zahida Siddiqi; 3/14/24 PACS Group filed for an initial public offering with the Securities and Exchange Commission on Wednesday, citing focus on growth plans in its filing. ... The Farmington, Utah-based PACS Group is one of the largest skilled nursing providers with more than 200 nursing facilities across nine states and serves over 20,000 patients daily. It plans to list on the NYSE under the symbol PACS. 

The identity dilemma: Navigating rebranding decisions in home health M&A Home Health Care News, by Patrick Filbin; 3/14/24 ... While some companies swiftly integrate acquired businesses into their brand and splash their logo, marketing materials and likeness on the newly acquired assets, others opt to maintain the selling company’s identity. In home-based care, the decision to “rebrand or retain” takes into account a number of factors, sources told Home Health Care News. They include operational efficiency, patient/client retention, market positioning and more.

Private equity sets sights on home care, hospice, new report findsMcKnights Home Care, by Adam Healy; 3/14/24The home care segment increasingly has become an attractive target for private equity buyers, particularly personal care and hospice, according to the Private Equity Stakeholder Project, a nonprofit financial watchdog organization.

Pennsylvania health systems are partnering up Becker's Hospital Review, by Andrew Cass; 3/8/24Kittanning, Pa.-based Armstrong County Memorial Hospital signed a definitive agreement March 6 to join Pennsylvania Mountains Care Network, marking the latest in a series of partnerships, mergers and acquisitions between hospitals and health systems in the Keystone State.

Ounce of prevention: Is a selling hospice or home health agency ready for the 36-Month Rule? McGuire Woods; 3/4/24Medicare-enrolled hospices and HHAsshould take the following steps toassess and avoid triggering the 36-month rule: [click on the link for content]

Aspirus Health completes St. Luke's Duluth acquisitionModern Healthcare, by Alex Kacik; 3/1/24Aspirus Health finalized its acquisition of St. Luke's Duluth, forming a 19-hospital system spanning northeastern Minnesota, northern and central Wisconsin and Michigan’s Upper Peninsula. ... As part of the transaction, Aspirus will invest at least $300 million over eight years in St. Luke’s and will expand its health plan to St. Luke’s service area within two years. In addition, Aspirus will honor all physician, labor and union contracts, the system said in a news release Friday. Editor's Note: Both Aspirus Health and St. Luke's Duluth provide hospice care.

Frontpoint Health acquires High Plains Senior Care, expanding Texas footprint and Medicare Advantage partnerships BNN, by Salman Akhtar; 2/29/24 Frontpoint Health, a leader in Home Health and Hospice services, has officially acquired High Plains Senior Care Group (HPSC), marking a significant expansion into over 176 counties across Texas. This strategic move not only broadens Frontpoint's geographical reach but also strengthens its collaborations with Medicare Advantage plans in the Southeast, promising accelerated growth and enhanced care for Medicare Advantage patients.

Addus more bullish on looming 80-20 rule, ready to ramp up M&A in 2024Home Health Care News, by Andrew Donlan; 2/27/24Addus HomeCare Corp. (Nasdaq: ADUS) leaders expressed noteworthy optimism in two areas Tuesday: the pending “80-20” rule and their M&A forecast for the near-term future. ... Based in Frisco, Texas, Addus provides personal care, home health care and hospice to more than 49,000 consumers via its 217 locations across 22 states.

Transaction: Legacy Care Partners acquires Superior Home Health; SSM Health promotes Health at Home ArmNation World News Desk; 2/21/24Legacy Care Partners – which also owns Advanced Home Care – has acquired Superior Home Health and Superior Hospice of Texas. Terms of the deal were not disclosed.

How Steward Health’s relationship with private equity souredModern Healthcare, by Alex Kacik; 2/5/24The financial decline of Steward Health Care may serve as a cautionary tale for health systems and other providers considering private equity investment.