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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