Publicly traded hospice companies poised for deals

Publicly traded hospice companies poised for deals
Hospice News; by Jim Parker; 5/24/24
The nation’s publicly traded hospice companies are primed for more acquisitions after a 2023 slump, fueled by census and growth. Transaction volume declined in the hospice and home-based care space in 2023, following the two record-breaking prior years. [Examples include:]

• Vitas Healthcare, a subsidiary of Chemed Corp., made its first acquisition in several years with the $85 million acquisition of Covenant Health and Community Services’ hospice operations and one assisted living facility location.
• The Pennant Group has completed two acquisitions thus far in May, most recently the Corpus Christi, Texas-based hospice provider Nurses on Wheels Inc. for an undisclosed amount. Earlier this month Pennant acquired Utah-based South Davis Home Health and South Davis Hospice.
• Addus is seeking acquisitions that would pair its home health and hospice services with its personal care business in its existing markets.
• BrightSpring is also positioning itself for further growth, driven in part by acquisitions.