CORAL SPRINGS, Fla. (March 22, 2022)—Knack Global (Knack), a Florida-based provider of revenue cycle management (RCM) solutions, announces the successful completion of its acquisition of The Billing Center (TBC), a provider of medical billing services to clients around West Virginia, including durable medical equipment (DME) suppliers. The acquisition of TBC will enable Knack to further strengthen its RCM practice in the DME space.
Mergers and Acquisitions
WALTHAM & CAMBRIDGE, Mass. (March 22, 2022)—Fresenius Medical Care, a provider of products and services for individuals with kidney diseases, InterWell Health, a physician organization driving innovation in the kidney care industry, and Cricket Health, a provider of value-based kidney care with an industry-leading patient engagement and data platform, announced that they have entered into a definitive agreement to create an independent new company.
DENVER, Colo. (March 3, 2022)—You Can Home Medical, managed by Caddis Capital Management, has acquired Independently Yours, Colorado’s largest retail medical supply store, with locations in Parker, Littleton and Louisville. The owners are selling to retire to their ranch in Colorado. The official acquisition date is March 1, 2022.
LOUISVILLE, Ky. (March 3, 2022)—One year after launching the CenterWell brand to represent Humana’s payer-agnostic health care service offerings, Humana Inc. has started to transition Kindred at Home’s home health division to the CenterWell Home Health brand.
FORT WORTH, Texas (February 16, 2022)—VERTESS, a health care mergers and acquisitions (M+A) advisory firm, announced that seasoned M+A professional Anna Elliott, who specializes in high-growth health care technologies such as deep tech, SAAS, artificial intelligence, machine learning and ambient solutions, has joined the company as a managing director and partner.
LAKEPORT, Calif. (February 15, 2022)—Mendo Lake Home Respiratory Services has been acquired in a strategic transaction with Lincare. Mendo Lake Home Respiratory Services is a respiratory-focused full service durable medical equipment business located in Lakeport, Californina, serving Lake, Mendocino and northern Napa counties. The company is well known for delivering quality products, maintaining clinical excellence, and providing the highest quality customer service.
ARVADA, Colo. (February 8, 2022)—The Colorado Visiting Nurse Association (Colorado VNA) announced that it has reached an agreement with 24/7 AvaRe Home Health to absorb their health care staff and patients into Colorado VNA.
What to know before you go
FORT WORTH, Texas (February 3, 2022)—VERTESS, a health care mergers and acquisitions (M+A) advisory firm, announced that Gene Quigley, an experienced executive with several health care organizations, has joined the company as a managing director. Quigley most recently helped lead a recapitalization process and successfully transitioned ownership to a private equity (PE) firm at Home Care Delivered.
MISSISSAUGA, On. (February 1, 2022)—PointClickCare Technologies, a health care technology platform enabling meaningful collaboration and access to real-time insights, announced its intent to acquire Audacious Inquiry, an industry-shaping connected care platform. The combination of PointClickCare and Audacious Inquiry will help accelerate the companies’ mission to address critical gaps in health care and enable better care for vulnerable patients.
GILBERT, Ariz. (January 18, 2022)—SYNERGY HomeCare, a growing homecare franchisor, continued to grow its footprint by selling 52 territories in 2021. This was a 37% increase over 2020 that produced an industry-leading 38 territory sales.
The growth earned the company a spot on the prestigious Entrepreneur magazine 2022 Franchise 500.
TROY, MI (January 18, 2022)—Best Life Brands, LLC, a multi-brand franchised organization that includes Blue Moon Estate Sales, CarePatrol, ComForCare, At Your Side Home Care and Boost Home Healthcare ended 2021 with 112 franchise agreements awarded across all brands, the acquisition of a home health company and multiple national awards.
RICHMOND, Va. & INDIANAPOLIS (January 10, 2022)—Owens & Minor, Inc. and Apria, Inc. announced that the companies have entered into a definitive agreement pursuant to which Owens & Minor will acquire Apria for $37.50 in cash per share of common stock, representing an equity value of approximately $1.45 billion.
NEW YORK (January 6, 2022)—Hearst announced it has agreed to acquire CellTrak, a provider of care documentation software solutions in the personal care market. The announcement was made by Steven R. Swartz, Hearst president and CEO; Gregory Dorn, MD, Hearst Health president; Scott Decker, Homecare Homebase president; and Dan Wacker, CellTrak CEO. Terms were not disclosed and the transaction is expected to close in Q1 of 2022.
FORT WORTH, Texas (January 5, 2022)—Jet Health Inc., a regional provider of home health and hospice services, announced the acquisition of Blessings Hospice, an Arlington, Texas-based hospice company. Blessings Hospice has been serving patients throughout Arlington since its 2019 founding.
Our annual state of the industry report
BOCA RATON, Fla. (January 4, 2022)—Clear Arch Health, a division of MobileHelp and a provider of remote patient monitoring (RPM) and mobile personal emergency response system (mPERS) solutions, announced the company acquired Life Care Solutions (LCS), a division of Resideo. Life Care Solutions has been a global leader in the remote patient monitoring industry for two decades, with a complete RPM solution to help streamline care coordination and improve outcomes.
ATLANTA (December 14, 2021)—Aveanna Healthcare Holdings Inc., a diversified homecare platform focused on providing care to medically complex, high-cost patient populations, announced that it has successfully completed the acquisition of Comfort Care, a home health and hospice company with operations in Alabama and Tennessee, for $345 million, representing $290 million of value, net of the present value of approximately $55 million in estimated net tax benefits.
FORT WORTH, Texas (December 10, 2021)—VERTESS, a health care mergers and acquisitions (M+A) advisory firm, announced that J. Blake Peart, a former hospital and ambulatory surgery center CEO, has joined the company as a managing director. Peart began his career as a clinician/registered respiratory therapist before moving into several administrative and executive positions with numerous high-profile healthcare organizations.
ATLANTA (December 1, 2021)—Aveanna Healthcare Holdings, Inc., a diversified home care platform focused on providing care to medically complex, high-cost patient populations, announced that it has successfully completed its acquisition of Accredited Home Care, a private duty services company based in Southern California, for a base purchase price of $180 million, plus up to $45 million subject to satisfaction of certain 2021 volume targets.
CINCINNATI (November 10, 2021)—Quipt Home Medical Corp., a U.S.-based provider of durable medical equipment (DME) focused on end-to-end respiratory care, is pleased to announce that it has recently acquired a business with operations in Illinois, reporting unaudited trailing 12-month annual revenues of approximately $2.5 million. Post integration, Quipt expects an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the acquisition target of $0.6 million.
TORONTO (November 9, 2021)—Integracare Inc., a provider of private home health care in Toronto and Mississauga, Ontario, has acquired Eldercare Home Health Inc.
Eldercare Home Health has been providing registered nurse supervised and case managed home health care in Toronto since 1995. Eldercare Home Health has served thousands of clients and families throughout Toronto focusing exclusively on providing high quality personal support services and home health care for seniors.