Choice Health at Home, LLC has purchased Angelic Hospice in Oklahoma, the company’s first entry into that state. In a separate transaction, Choice Health acquired the home care provider Restore Home Health, also in Oklahoma. Financial terms for both deals were undisclosed.
Choice has been pursuing expansion through acquisitions during the past three years, including home health and hospice transactions. The company is also focused on building its patient census for both business lines through same-store growth. Choice Health expects to complete more purchases throughout 2021 and into next year.
“While our core growth lever continues to be organic development, these businesses represent what we are looking for in strong regional agencies that have benefited from owner-operator leadership,” said Clay Dickeson, vice president of finance and M&A analyst with Choice. “From an acquisition standpoint, Choice is very interested in these types of organizations on a go-forward basis and will continue to be active.”
Choice, headquartered in Tyler, Texas, was established in 2008 as a rehabilitation services provider. The company entered the home health arena in 2012 and launched its hospice business in 2018. It operates locations throughout Texas, Louisiana and Oklahoma.
The company also completed a third recent transaction to acquire Home Therapy of Austin in Texas, which will be integrated into Choice Health’s operations in the Lone Star State. Plans for the Austin acquisition began late last year and the transaction went through earlier this month for an undisclosed sum. Choice also provides home health and hospice services in the Austin market.
Hospice utilization in Oklahoma reached 50.4% among Medicare decedents during 2018, which is in line with the national average, according to the National Hospice & Palliative Care Organization. This makes the state 22nd in the nation for utilization. Texas ranks 15th among the states in hospice utilization, with 52.8% of Medicare decedents electing hospice in 2018, according to NHPCO. Utah leads the nation with a rate of 60.4%
“Our goal is to provide excellent health care to our patients in the comfort of their home. We are very excited about our segments of health care and the opportunity to serve the residents of the state of Oklahoma,” said David Jackson, founder and CEO of Choice Health at Home.
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June 04, 2021 at 10:45PM
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Choice Health Completes Multiple Hospice, Home Health Acquisitions - Hospice News
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