Hospice News May 15, 2024
VITAS Healthcare, a subsidiary of Chemed Corp. (NYSE: CHE) is gearing up for potential acquisitions.
The company recently completed its $85 million acquisition of Covenant Health and Community Services’ hospice operations and one assisted living facility location. This was VITAS’ first deal in several years, largely due to record-high valuations in the space, Chairman and CEO Nick Westfall told Hospice News in 2020.
Going forward, VITAS is targeting its home state of Florida and other Certificate of Need (CON) states for potential deals, Michael Witzeman, vice president, CFO and controller at Chemed said during the Bank of America Securities Health Care Conference.
“We certainly think that there’s a pipeline growing, and we have the resources on our balance sheet with...
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