Hospice News April 18, 2024
VITAS Healthcare, a subsidiary of Chemed Corp. (NYSE: CHE), has completed its $85 million acquisition of Covenant Health and Community Services’ hospice operations and one assisted living facility location.
The deal is structured as an asset purchase, which allows the buyer to assume liability for assets included in the transaction. It also brings VITAS into the Alabama market and expands its geographic footprint in Florida. The transaction also marks VITAS’ entry into the assisted living space.
“Being a long-standing, mission-focused provider, we have always been exploring opportunities to partner with similar organizations that have a shared culture, mission and passion for impacting their communities,” VITAS CEO Nick Westfall told Hospice News in an email when the transaction was announced. “This...
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