Pennant kicks off 2021 M&A activity
The Pennant Group Inc. (Nasdaq: PNTG) has kicked off its 2021 M&A push.
The Eagle, Idaho-based post-acute care provider announced Tuesday it has acquired Sacred Heart Home Health Care, which provides home health services in Phoenix and Tucson, Arizona. The acquisition was effective Jan. 16, 2021.
“This strategic, off-market acquisition expands our service offerings in the Tucson market and strengthens our presence in Phoenix,” Pennant CEO Danny Walker said in a press release. “We have been eager to add home health services to the care continuum in Tucson for some time.”
The Pennant Group is a holding company of independent operating subsidiaries that provide health care services through 80 home health and hospice agencies, plus 54 senior living communities. The overall enterprise has locations throughout Arizona, California, Colorado, Idaho and 10 other states.
Founded in 2008, Sacred Heart Home Health Care is a provider of skilled nursing, therapy and social services. The company admitted about 730 patients last year, according to Pennant.
With Sacred Heart now under its umbrella, Pennant will continue to pursue additional opportunities to acquire home health, hospice and senior living businesses throughout the U.S., President Brent Guerisoli noted in the release.
Caring People acquires Always Here Home Care, Kosher Caregivers
Caring People recently announced it has acquired Boston-based Always Here Home Care, along with Boca Raton, Florida-based Kosher Caregivers. Both companies provide home-based care services.
Caring People is a portfolio company of private equity firm Silver Oaks Services Partners. The company currently operates in New York, New Jersey, Connecticut, Florida and Texas, serving an average of 1,700 clients per day.
Both deals give Caring People a stronger foothold in the Northeastern U.S. and Florida, according to the company.
“We’re very proud of the reputation we’ve built throughout our geographic service locations and have proven that as long as quality care and employee support are the cornerstones of your organization, they will not get diluted as the organization expands,” Steven East, CEO at Caring People, said in a press release.
Last year, Caring People told Home Health Care News that acquisitions would continue to play a role in the company’s growth strategy moving forward.
The company already has more potential acquisition targets in place, according to East.
“We’re already looking at two to three more opportunities to close before Q2; this will be another milestone year for us,” he said. “I’m tremendously grateful to have found companies who mirror our culture, mission and values. It’s a privilege to join forces with like-minded companies and owners.”
CareFinders Total Care purchases ORI HomeCare
CareFinders Total Care has acquired home care company ORI HomeCare. The move further solidifies its presence in the Pennsylvania market.
Hackensack, New Jersey-based CareFinders provides in-home care services to more than 8,500 patients throughout New Jersey, Pennsylvania and Connecticut. Pennsylvania is a significant part of CareFinders’s growth strategy.
Currently, the company has nine offices in Pennsylvania. The company recently purchased Pennsylvania-based Union Home Care, along with other local providers.
“The combination of ORI HomeCare and Union Home Care, in addition to Philadelphia Home Care Agency and At Home Quality Care, provides great strength for [CareFinders Total Care] as the company continues to develop its presence in the Northeast region,” Jim Robinson, the company’s CEO, said in a press release.
For ORI HomeCare, the deal allows the provider to align with a company that shares its goals.
“I believe this partnership will allow us to bring the highest quality care to more patients in need while providing our caregivers with new opportunities for growth and development.” Terri Matthews, owner and CEO of ORI HomeCare, said. “There is a lot of change in store for home care in Pennsylvania, and we look forward to becoming part of the premier home care network that our MCO partners will continue to rely on.”
Saltzer Home Health rebrands
Saltzer Home Health recently announced it will now operate under the name “Terrace Home Health.”
As a company, Terrace Home Health’s services will include hospice, home health, personal care and outpatient therapy. It operates in the Idaho and Missouri markets.
The rebrand is part of the company’s larger focus on health management and value-based health care approaches moving forward.
“Our mission remains dedicated to providing personalized care with dignity, respect and compassion,” Terrace Home Health noted in its announcement.
Nova Leap secures Ohio home care business
Nova Leap Health Corp. (TSXV: NLH) has finalized its purchase of an Ohio home care business.
“A warm welcome to the outstanding team in Ohio,” Chris Dobbin, president & CEO of Nova Leap, said in a statement. “We look forward to exploring many more opportunities in the region for years to come.”
At this time, no further details of the deal have been made public.
Nova Leap is based in Halifax, the capital of the Canadian province of Nova Scotia. Nova Leap is a home care services company that operates in the U.S. and Canada.
The company has been steadily growing its U.S. footprint. In the past few years alone, the company has also acquired Massachusetts-based Keystone Home Care LLC and Oklahoma-based Around the Clock Home Care LLC, among several other businesses.