Literature Review

Healthcare trends & transactions Q3 2025 JD Supra; by Delaney Durst, Ali Gallagher, Angela Humphreys, Ben Kelly, Zoebedeh Malakpa, Mariah R. Rhodes, Marc Rigsby, Morgan Tandy, David Wilson; 10/29/25  [Scroll down to "Home Health, Hospice Care & Personal Care Services"]The home health and hospice sector saw a modest decline in deal activity since Q2, as the industry faced changes in Medicare reimbursement rates and ongoing regulatory uncertainty. The most notable transaction in the space occurred in August when, following two years of regulatory scrutiny, UnitedHealth closed its $3.3 billion acquisition of Amedisys, a provider of home health and hospice services.  ... In the hospice sector, LifeCare Home Health announced in September its acquisition of St. Gabriel’s Hospice & Palliative Care, a hospice care provider serving approximately 300 patients in Texas, and BaneCare Management, a senior care services provider in Massachusetts, announced its acquisition of Longwood Hospice.

CommonSpirit Health to acquire Good Samaritan Hospice WTWO/WAWV, Vincennes/Terre Haute, IN; by Brayton Riley; 10/16/25 ... As we have previously reported, Good Samaritan planned on closing its hospice program at the end of 2025. However, leadership began looking at ways that would allow hospice services to continue. During that process, Good Samaritan said CommonSpirit Health was identified as the best organization to assume ownership of the services. ... Rob McLin, CEO of Good Samaritan [said,] “After announcing the planned closure, our goal was to find a qualified organization that could continue this vital service for our community. CommonSpirit Health at Home’s acquisition of our hospice program ensures that care will continue seamlessly, delivered by the same trusted caregivers who have supported patients and families for years.” ... The transition is anticipated to take effect in February of 2026.

Press Ganey to be sold to Qualtrics in $6.75B deal Modern Healthcare; by Gabriel Perna; 10/6/25 Press Ganey Forsta, which provides patient surveys and engagement tools for hospitals, is set to be sold to data company Qualtrics in $6.75 billion deal. The companies on Monday announced the deal, which is subject to customary closing conditions. Qualtrics plans to use a combination of cash and equity to pay for Press Ganey. Qualtrics, which is owned by private equity firm Silver Lake, creates software to help companies across multiple sectors receive feedback from their employees and customers. The company said in a news release that acquiring Press Ganey will bolster its offerings to healthcare companies while giving it more data to train its artificial intelligence models.

Pennant Group completes strategic acquisition of operations Investors Hangout; by Ryan Hughes; 10/2/25 ... Pennant Group is set to integrate operational assets worth approximately $146.5 million, encompassing various home health, hospice, and personal care services primarily situated in the Southeast. This acquisition includes 54 locations across multiple states, primarily focusing on the healthcare needs of communities in the region. ... An important aspect to highlight is that about two-thirds of the total revenue is associated with home health services, while the remaining third is linked to hospice care. 

Adobe Population Health expands footprint through acquisition of clinical programs from MedZed Physician Services Adobe Population Health; by PRNewswire/PRWeb; 9/26/25 Adobe Population Health, an innovative care management company, proudly announces the acquisition from MedZed Physician Services of certain assets related to MedZed Physician Services' California based In-Home Primary Care and Palliative Care services. The acquisition of such assets, contracts, and employees supports Adobe's expansion into California, reinforcing Adobe's commitment to closing care gaps and addressing the needs of the most vulnerable populations. Adobe Population Health offers proactive care management services through a tech-enabled, hybrid care model delivering whole-person care.

Elara Caring and National HME announce exclusive partnership to provide durable medical equipment services nationwide Business Wire (BW), Dallas & Irving, TX; Press Release; 9/23/25 Elara Caring, a leading national home health provider offering high-quality clinical and personal care services, and National HME, a leading provider of durable medical equipment (DME) solutions and services, today announced that they have entered into an exclusive agreement under which National HME will deliver its best-in-class DME services to Elara Caring’s 49 hospice locations across the United States. 

Nonprofit hospice consolidation ‘intensifying’Hospice News; by Holly Vossel; 9/16/25As of the second quarter in 2025, nonprofit deals represented 33% of hospice and home health transactions, The Braff Group reported. Half of these hospice assets were picked up by nonprofit buyers, meaning that half of the market is choosing to sell to for-profit companies, Kulik explained.

UnitedHealth expands in North Carolina with $3B deal Triad Business Journal - Health Care; by Zac Ezzone; 9/15/25 UnitedHealth is making a major move in the home care space in North Carolina. UnitedHealth gains 20 Amedisys N.C. facilities, including five in the Triad. One of the largest healthcare companies in the US has grown its footprint in North Carolina through a multibillion dollar deal. United Health Group Inc. has completed a $3.3 billion acquisition of Amedisys, which operates home health and hospice sites throughout the country. The deal closed.

Pennant announces home health acquisition in Wyoming Pennant Group, Eagle, ID; Press Release; 9/3/25 The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, announced today that effective September 1, 2025, it has acquired a premier home health agency and outpatient therapy operation in Wyoming. Both businesses, which will continue operating as Healing Hearts Home Health and Healing Hearts Outpatient Therapy, will serve communities in Gillette and Moorcroft, expanding Pennant’s service area in the region.

PruittHealth strengthens senior care with new acquisition Investors Hangout; by Dylan Bailey; 8/28/25 PruittHealth ... has revealed its acquisition of The Lodge of Warner Robins. This strategic move marks the third skilled nursing center acquired from Debbie Meade and her family-run organization, Health Management. ... The acquisition allows patients access to a comprehensive Continuum of Care that encompasses ... hospice and palliative care, pharmacy, therapy services, a Medicare Advantage Plan, PruittHealth Premier, and community-based services for qualified Medicaid recipients through PruittHealth Home First.

Building the continuum: Inside New Day Healthcare’s growth & acquisition strategies Hospice News; by Jim Parker; 8/27/25 New Day Healthcare in 2025 has been one of the home health and hospice sector’s most active acquirers. ... Founded in 2020, New Day’s roughly 10,000 employees provide hospice, home health, pediatric and personal care to roughly 180,000 patients annually. ... Brands under the New Day’s umbrella include Phoenix Home Care & Hospice, New Age Hospice, Compassion Hospice, Home Care Providers of Texas, Pathfinder Home Health, Envision Health Partners and AssistCare, among others. ... Hospice News sat down with New Day CEO G. Scott Herman to discuss the company’s growth, its approach to acquisitions, forthcoming changes in the C-Suite and where hospice fits into its strategy.

The mixed home-based care dealmaking outlook Home Health Care News; by Joyce Famakinwa; 8/18/25 ... Kris Novak, managing director of The Braff Group, explained that M&A experts are seeing similar volumes to the last couple of years. While some segments of home-based care face significant challenges that can slow dealmaking, others are insulated from some external factors. Overall, an uptick in transaction activity is right around the corner. ... Novak noted that, in addition to home care, we can expect to see a number of hospice acquisitions as the year continues. ... Novak also predicts that we may see PE interest in what are described as more niche segments of home-based care, such as private-duty nursing or pediatrics.

BrightSpring taking modest approach to M&A in 2025 Hospice News; by Jim Parker; 8/15/25 BrightSpring Health Services (Nasdaq: BTSG) is taking a slow and steady look at acquisition opportunities through the remainder of the year. The company is allowing the dust to settle on the divestiture of its community living business to Setiva for $835 million before once again investing heavily in acquisitions, according to CEO, President and Chairman Jon Rousseau. The divestiture is expected to close in the fourth quarter. But that doesn’t mean that BrightSpring is out of the market for deals.