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Trive backs Choice Health at Home
Trive Capital, a Dallas-based private equity firm, has formed a partnership with Choice Health at Home.
Tyler, Texas-based Choice is a home health, hospice and rehabilitation services provider. The company operates in 40 total locations across Texas, Louisiana and Oklahoma, with over 800 licensed health care employees.
The partnership builds off of Trive’s initial investment in Choice in July 2020. Since then, the company has closed seven add-on transactions.
Trive’s current investment in Choice is in partnership with Coltala Holdings, a Fort Worth, Texas-based company with an investor focus on U.S. health care.
The investment serves to further fuel Choices’ growth, according to CEO David Jackson.
“Trive’s ability to provide senior debt, subordinated debt and preferred equity resulted in a streamlined transaction that provided high certainty of execution,” he said in a press release. “Through our partnership with Trive, Choice has been able to accelerate … growth.”
LHC Group finalizes purchase of Heart of Hospice
LHC Group Inc. (NASDAQ: LHCG) has completed its purchase of South Carolina-headquartered Heart of Hospice from investment firm Evening Post Industries Group. The terms of the deal were not disclosed.
Overall, the acquisition expands the company’s footprint in Arkansas, Louisiana, Mississippi, Oklahoma and South Carolina, adding 16 new hospice locations to LHC Group.
“This is a tremendous achievement in our ongoing initiative to grow and expand our hospice
services, as we welcome more than 750 Heart of Hospice employees, a combined 150
years in executive hospice leadership, and an outstanding reputation for quality and
compliance to the LHC Group family,” Keith Myers, LHC Group chairman and CEO, said in a statement.
LHC Group delivers home health, hospice, home- and community-based services (HCBS), and facility-based care in 35 states and the District of Columbia.
The company anticipates roughly $92.5 million in annual revenue through Heart of Hospice.
In general, LHG Groups has been bullish when it comes to M&A — even hitting an all-time high this year. The company allocated $400 million for acquisitions during 2021.
Charter Health Care Group acquires Genesis HospiceCare
Charter Health Care Group has acquired Genesis HospiceCare in Athens, Texas, and Saints Hospice in Plano, Texas. The financial terms of the transactions were not disclosed.
“Genesis HospiceCare and Saints Hospice have established themselves as quality providers of end-of-life care,” Steve Larkin, CEO of Charter, said in a statement. “We are fortunate to be able to welcome them into our company as we broaden our Texas service area. We look forward to serving more patients and families in the Dallas–Fort Worth metroplex and Upper East Texas with the compassionate, innovative and accessible health care services that are Charter’s hallmark.”
Charter is the post-acute care provider platform of Dallas-based private equity firm Pharos Capital Group LLC.
Cucamonga, California-based Charter offers hospice, home health, complex care management and palliative care services. The company delivers care to over 5,000 patients across seven states.
“We are proud to support Charter’s mission of ensuring a comfortable patient experience while lowering the costs of care,” Bob Crants, founding partner and chief investment officer of Pharos, said in a press release. “Charter will team with Genesis and Saints to expand service offerings in North and East Texas and continue with its tradition of providing compassionate, comprehensive care solutions for patients and families navigating the last years of life.”
Hoy Health makes acquisition debut
Hoy Health, a health-tech primary care company, made its first corporate acquisition with its purchase of HomeFront Health.
Morristown, New Jersey-based Hoy Health is a digital primary care platform with products and services designed to address the health care needs of medically underserved populations.
Meanwhile, San Antonio, Texas-based HomeFront Health is a mobile health care organization that delivers front-line medical services to patients in their homes. As part of its business, the company works as an extension of hospital and provider-centric care models.
The deal allows Hoy Health to further solidify its presence in the digital health care space, according to a press release.
“The acquisition of HomeFront Health is not only a major step forward for both companies, but also a critically important step for our HoyRPM clients and patients,” Mario Anglada, CEO of Hoy Health, said in the release. “We are in the business of patient care and being able to combine Hoy Health’s strength in technology with HomeFront Health’s focus on human interaction, we will deliver an enhanced model of care that is widely acceptable to aging, multi-lingual, and underserved populations.”
Humana completes purchase of Kindred at Home
Humana Inc. (NYSE: HUM) has finalized its acquisition of Kindred at Home.
Overall, Kindred at Home delivers home health, hospice and personal care services to more than 550,000 patients annually.
“We are pleased to complete the acquisition of Kindred at Home and fully integrate their home health services and clinical expertise into Humana’s value-based home health business,” Bruce D. Broussard, president and CEO of Humana, said in a statement. “The addition of Kindred at Home will help us significantly expand our home health offering, with a focus on accelerating clinical innovation, improving patient outcomes, increasing satisfaction for patients and providers, reducing the total cost of care and providing greater value for health plan partners.”
In 2018, Humana purchased a 40% stake in Kindred at Home. The company first announced plans to acquire the remaining 60% of the home health giant in April.
Companies featured in this article:
Charter Health Care Group, Choice Health at Home, Hoy Health, Humana, Kindred at Home, LHC Group, Trive Capital
