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VITAS Seeking Large Acquisitions in Hospice CON States
Hospice News November 13, 2024
As it considers potential acquisitions, VITAS Healthcare is focused on large assets in certificate of need (CON) states.
VITAS is a subsidiary of Chemed Corp. (NYSE: CHE). The company this year made its return to the M&A market after a hiatus of several years. In April, VITAS acquired Covenant Health and Community Services’ hospice operations as well as one assisted living facility in an $85 million deal.
With that transaction under its belt, more are likely on the way, according to Mike Witzeman, vice president and CFO for Chemed.
“We are fairly optimistic on a pipeline of potential Covenant-size deals, but there are a few hurdles from an internal perspective that we would certainly want to keep in mind. First...
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