Transactions: Amedisys Finalizes Several Acquisitions; Vistria Invests in PHCN

Amedisys completes a series of acquisitions

Amedisys Inc. (Nasdaq: AMED) recently completed a number of acquisitions.

The company announced that it has completed its purchase of Evolution Health and certain home health assets from AssistedCare Home Health and AssistedCare of the Carolinas.

Amedisys delivers a number of offerings including home health, hospice, personal care and high-acuity care services. The company’s footprint includes 350 care centers in 34 states and the District of Columbia, with an average daily census of about 74,000 patients.

Amedisys has acquired 100% of the ownership interests in Evolution Health. The company operates in 15 locations across Texas, Oklahoma and Ohio.

“Amedisys can now offer both home health and hospice services in more communities across Texas, Oklahoma and Ohio,” Chris Gerard, president and COO of Amedisys, said in a press statement. “Amedisys is proud to expand its presence in these health care communities and provide more comprehensive care by aligning with our Amedisys Hospice footprint in these markets.”

In a separate transaction, AssistedCare’s home health service lines have officially? transitioned to Amedisys. AssistedCare’s personal care services, intellectual and developmental disabilities, and private duty nursing services were not part of the deal.

Similar to the Evolution Health deal, Gerard noted that the AssistedCare Home Health and AssistedCare of the Carolinas acquisition allows Amedisys to align with the company’s hospice footprint in North Carolina.

“By continuing the great care provided by AssistedCare Home Health and AssistedCare of the Carolinas, Amedisys can now offer both home health and hospice services in more communities across North Carolina, including those in and around Wilmington and Greenville,” Gerard said. “Amedisys is proud to expand its presence in these healthcare communities and provide more comprehensive care.”

The Vistria Group invests in Professional Health Care Network

The Vistria Group — a private equity firm based in Chicago — has invested in Professional Health Care Network (PHCN), a home health care management services company.

“Since our founding, The Vistria Group has had a long-standing commitment to driving innovation and increasing access to high-quality, value-based healthcare that’s showcased through our portfolio companies,” David Schuppan, senior partner and co-head of health care at The Vistria Group, said in a statement. “The investment in PHCN was a strategic, three-fold decision, geared around increasing access to home health services, in addition to accelerating the shift towards value-based care and creating the premier network of home health providers.”

Phoenix-based PHCN partners with both health plans and providers. The company provides management solutions and care coordination.

“Our partnership with The Vistria Group will help us expand those collaborative efforts and continue to provide unique solutions that increase access and quality of home health services and drive success in our next chapter of growth,” Brian Sassi, CEO of PHCN, said in a press statement.

Owens & Minor completes Apria purchase

Owens & Minor Inc. (NYSE: OMI), a health care solutions company, completed its acquisition of Apria Inc. for a price tag of $1.6 billion.

Overall, the deal expands Owens & Minor’s home health care portfolio.

“We are excited to finalize the acquisition and for Apria to become part of Owens & Minor,” Edward A. Pesicka, president and CEO of Owens & Minor, said in a statement. “This portfolio expansion strengthens Owens & Minor’s position in the fast-growing home health industry and enhances our ability to support healthcare beyond the hospital for both new and existing patients.”

Indianapolis, Indiana-based Apria is an integrated home health care equipment provider that offers a wide range of products and services. As one of the largest providers in the home medical equipment arena, the company has roughly 280 locations across the U.S.

As part of the transaction, Apria will be combined with Owens & Minor’s Byram Healthcare business to form the new patient direct segment.

Additionally, Daniel J. Starck – who has served as Apria’s CEO – will lead the new segment.

CareCentrix rebrands its palliative care offering

CareCentrix has rebranded the Turn-Key Health palliative care solution to Serious Illness Care at Home.

“Serious illness care requires a whole-person approach that addresses the clinical and social needs of a patient and their family,” Terri Maxwell, general manager at CareCentrix, said in a statement. “Our program allows for better coordinated care that focuses on the full scope of a patient’s needs, helping them to remain independent in their homes while receiving high-quality care that is aligned with their goals and values.”

Hartford, Connecticut-based CareCentrix — a care management company that focuses on home-based care — manages care for 19 million members through its network of more than 7,400 locations in over two dozen states.

The company recently received a $330 million investment from Walgreens Boots Alliance (Nasdaq: WBA).

On Turn-Key’s end, it has provided palliative services nationally since 2016 and was purchased by CareCentrix in 2020.

Molina Healthcare partners with MedArrive

Molina Healthcare of Texas and MedArrive have formed a partnership to offer a program that provides in-home health care services to at-risk Molina members in the greater Houston area.

“Managing and navigating the intricacies of health care can be daunting, especially for underserved or elderly populations,” Chris Coffey, plan president of Molina, said in a statement. “Our partnership with MedArrive will better connect vulnerable members with the resources they need to improve their health outcomes while reducing visits to emergency rooms.”

Molina provides government-funded health care, serving members through Medicaid, CHIP, Medicare, Medicare-Medicaid and Health Insurance Exchange programs. The company has served 5.2 million members.

Meanwhile, MedArrive coordinates in-person care for health systems, Accountable Care Organizations and physician group partners via emergency medical services professionals, nurses and community health workers, among others. The New York-based company also has an array of virtual capabilities.

The partnership will connect pre-identified Molina Medicaid members with MedArrive’s field provider network of health care professionals. These providers will deliver a combination of home-based care services, diagnostics, health assessments and other preventive health measures.