Literature Review

On-demand talent can push key objectives forward amid an increase in M&A deals Forbes; by Sunny Ackerman; 8/14/24 As we settle into the latter half of 2024, mergers and acquisitions and other business transformation initiatives are likely to be top of mind for many business leaders. Consider EY’s May 2024 “Deal Barometer,” which predicts that in the United States, “corporate M&A deal volume will increase 20%.” The firm also estimated that M&A deal volume will increase by 16% in the private equity world. ... Given the projected increase in M&A deal activity, I expect to see an increased need for on-demand talent in 2024 and beyond to push key objectives forward, executing strategic goals to close deals and facilitate seamless transitions post-closure. ...

Pennant’s home health, hospice growth ‘significantly ahead’ of prior expectationsHome Health Care News; by Audrie Martin; 8/7/24The Pennant Group Inc. (Nasdaq: PNTG) leaders highlighted the company’s significant home health growth Tuesday. They also teased continued expansion in the East Coast and elsewhere. “We are thrilled to report record-breaking second quarter results as we continue to experience momentum across all our service lines and create meaningful growth opportunities for local leaders and teams,” Pennant CEO Brent Guerisoli said during the company’s second-quarter earnings call. “Our financial performance and growth trajectory reflect the consistent efforts we have applied to every aspect of our business through our five key focus areas: leadership development, clinical excellence, employee engagement, margin and growth.” The Pennant Group is a holding company based in Eagle, Idaho, with independent operating subsidiaries that provide health care services through 117 home health and hospice agencies and 54 senior living communities across 13 states.

Financial Crime Weekly: Hospice provider fined $26.3M for false Covid claims Benzinga; by Michael Julian; 7/28/24 Provista Health, a Dallas-based hospice provider, has been ordered to pay $26.3 million for billing Medicare for a variety of medically unnecessary respiratory pathogen panel (RPP) tests that were given to nursing homes during the pandemic, the Department of Justice announced on Thursday. ... In a July 2023 complaint, the U.S. alleged that the RPP tests were not medically necessary because the beneficiaries had no symptoms of a respiratory illness and because the tests were for uncommon respiratory pathogens. The complaint also alleged that Britton-Harr and Provista submitted claims for RPP tests that were never ordered by physicians and sometimes for RPP tests that were never performed, including over 300 claims for nasal swab test samples that were supposedly collected from beneficiaries who had already died. 

Guest column: Private equity poses threat to home health care The Gardner News; by Jane Pike-Benton. Worcester Telegram & Gazette; 7/21/24 Health care observers across the commonwealth are focusing their attention on a bankruptcy court in Houston to learn the fate of eight Massachusetts hospitals being sold at auction by Steward Health Care. Steward’s financial collapse has unsurprisingly brought scrutiny on private equity in care delivery to a crescendo. ...  Nationally, the number of hospice agencies owned by private equity nearly quadrupled from 2011 to 2019. Seventy-two percent of those acquired hospices were previously nonprofits. As policymakers work to stabilize a health care capacity crisis pushed to the brink by Steward, they cannot afford to lose sight of home health and hospice providers in the shuffle. Organizations like ours, many of which were founded with nonprofit missions well over a century ago, are essential to hospitals desperately looking to discharge patients.

Kindred and related entities agree to pay $19.428M to settle federal and state false claims act lawsuits alleging ineligible claims for hospice patients U.S. Department of Justice - Office of Public Affairs; Press Release; 7/17/24 Gentiva, successor to Kindred at Home, has agreed to pay $19.428 million to resolve allegations that Kindred at Home and related entities (Kindred) knowingly submitted false claims and knowingly retained overpayments for hospice services provided to patients who were ineligible to receive hospice benefits under various federal health care programs. Gentiva’s hospice operations, headquartered in Atlanta, include entities that previously operated Kindred at Home hospice locations under the names Avalon, Kindred, SouthernCare and SouthernCare New Beacon. [Click on the title's link to continue reading.]

AccentCare unveils new hospice care center in Miami-Dade County accentCare, Miami, FL; 7/10/24 AccentCare, a nationwide leader in home health, hospice and personal care services, ... announced the opening of a new inpatient hospice center in Miami. Expanding its footprint in South Florida, AccentCare’s new facility aims to address the region’s diverse population and growing need for greater access to personal and high-quality hospice care. “We are thrilled to expand our presence in the Miami area, offering compassionate and personalized hospice care for more patients and their families in Florida’s diverse communities,” said Andy Johnston, President of Hospice & Personal Care Services, AccentCare. ... AccentCare’s new 30,000-square-foot hospice center offers a range of services, including nursing care, pastoral care, medical social work, respite services, 24-hour critical home care and bereavement support for families. 

Apply now for AHA’s 2025 Circle of Life Award recognizing end-of-life and hospice care providersAmerican Hospital Association press release; 5/30/24Applications are open through July 24 for AHA’s 2025 Circle of Life Award, which recognizes hospitals and health systems that advance end-of-life and hospice care that is safe, timely, efficient, effective and equitable. There will be up to three recipients of the award, and Citations of Honor may also be presented to other noteworthy programs.

BrightSpring Health Services announces definitive agreement to acquire Haven Hospice, expanding its hospice services into the CON state of FloridaBrightSpring press release; 6/24/24BrightSpring Health Services (NASDAQ: BTSG), a leading provider of home and community-based health services for complex populations, today announced a definitive agreement to acquire the assets of North Central Florida Hospice, Inc. and Haven Medical Group, LLC (collectively “Haven Hospice”), a Florida-based company holding a Certificate of Need (CON) for comprehensive hospice care services in 18 counties in north central Florida. ... BrightSpring’s acquisition of Haven will allow the Company to provide advance care planning, palliative, and hospice services throughout Florida Agency for Health Care Administration service areas 3A, 4A, and 4B. Total consideration for the acquisition is $60 million, with $15 million in cash at close, $30 million in Company equity at close, and an additional $15 million in a seller note payable four years after closing. The acquisition is expected to close in the third quarter of 2024.

Tapestry Hospice settles healthcare kickback claims for $1.4 million United States Attorney's Office - Northern District of Georgia; Press Release; 6/20/24 Tapestry Hospice of Northwest Georgia, LLC, and its owners and managers, David Lovell, MD, Stephanie Harbour, Ben Harbour, and Andrew Nall (collectively “Tapestry”), agreed to pay $1.4 million to resolve allegations that they violated the False Claims Act by entering into kickback arrangements with medical directors in exchange for referrals of hospice patients to Tapestry. “By entering into kickback arrangements, health care providers can cause doctors to make medical decisions that are motivated by financial gain, rather than the patient’s best interest,” said U.S. Attorney Ryan K. Buchanan. “Our office is committed to ensuring the accountability of health care providers who put their own financial needs ahead of their patients.” “The False Claims Act settlement in this case will hopefully be a deterrent to those who selfishly evade our federal healthcare programs for their own benefit,” said Keri Farley, Special Agent in Charge of FBI Atlanta. “The message is clear, the FBI will not tolerate companies operating corporate-wide schemes to illegally line their pockets.” 

NAHC, NHPCO ink deal completing affiliation Hospice News; by Holly Vossel; 6/18/24 The National Hospice and Palliative Care Organization (NHPCO) and the National Association for Home Care & Hospice (NAHC) have announced the completion of their affiliation agreement. The affiliation joins two of the largest organizations representing, educating and advocating for home health and hospice providers that serve millions of disabled, elderly and dying Americans across the country. Board chairs and c-suite executives at NAHC and NHPCO recently met in Washington D.C. to ink the deal. The affiliation is rooted in a shared belief that unification will benefit their respective members and ultimately the patients and families they serve, according to NAHC President and CEO William Dombi.  

Interim HealthCare Inc. recognized on Forbes list: America’s Best Employers for New Grads 2024 Morningstar; by Business Wire; 6/13/24 Interim HealthCare Inc. ... is recognized as one of the best places to work for recent college graduates on the Forbes America’s Best Employers For New Grads 2024 list. ... For the America’s Best Employers For New Grads list, more than 100,000 professionals with 10 or fewer years of work experience were surveyed at companies with 1,000 or more employees in the United States. The young professionals responded to questions about compensation, benefits, advancement opportunities, working conditions, flexibility, company image, and inclusion, along with whether they would recommend the employer to others. This award is presented by Forbes and Statista Inc.

Northrim Horizon completes acquisition of Noble HospiceInvestors Observer; PR Newswire; 6/11/24Northrim Horizon L.P. ("Northrim"), an Arizona -based permanent capital investment firm, today announced its acquisition of Noble Hospice and Palliative Care ("Noble" or the "Company"), a leading provider of hospice services in Arizona. Noble becomes Northrim's fourth acquisition in its broader platform offering a full spectrum of essential home care and hospice services across Arizona.  

Addus to buy Gentiva’s personal care assets for $350 million Home Health Care News; by Andrew Donlan; 6/10/24 Addus HomeCare Corp. is set to acquire Gentiva’s personal care assets for about $350 million.Those assets amount to over 16,000 home care patients per day, in Arizona, Arkansas, California, Missouri, North Carolina, Tennessee and Texas. Addus – which just left the state of New York – will fund the acquisition through its existing revolving credit facility. “We believe this acquisition is a great strategic fit for Addus, and we are excited about the opportunity to expand our personal care market coverage in seven states, including Texas and Missouri, which are new markets for Addus,” Addus CEO Dirk Allison said. ... Addus currently provides home care, home health care and hospice services to over 49,000 consumers through 214 locations spanning 22 states.