Texas-headquartered Traditions Well being, LLC has acquired Household Consolation Hospice in Scottsdale, Ariz. This would be the firm’s fifth location in that state. Monetary phrases had been undisclosed.
Personal equity-backed Traditions Well being is a portfolio firm of the family-owned funding agency Dorilton Capital Advisors. Headquartered in School Station, Texas, Traditions offers hospice, dwelling well being care and consulting providers to an estimated 5,000 sufferers throughout 16 states.
“I’m extraordinarily excited to extend our presence within the Valley,” “David Klementz, president and CEO of Traditions. “We couldn’t be extra thrilled to welcome the workers and sufferers of Household Consolation into the Traditions household,”
Traditions Well being has been energetic within the mergers and acquisitions market in recent times, finishing near a dozen transactions in 2019 and 2020. This exercise has continued in 2021. Buying 4 corporations in January, Traditions Well being has continued a progress trajectory.
Final month Traditions bought the Kansas Metropolis places of Lumicare Hospice for an undisclosed sum. Lumicare operates in each the Kansas and Missouri sides of that metropolitan space. The transaction marked Traditions’ entry into each of these states.
The corporate earlier this yr entered the Louisiana hospice market with the acquisitions of Grace Hospice & Palliative Care and Heritage Hospice early within the yr, whereas additionally beefing up its dwelling well being operations in Oklahoma with the acquisition of Traditions House and Safe House. Most just lately Traditions purchased Texas-based Space Group Hospice in addition to AmeraCare Household Hospice and House Well being, positioned close to New Orleans.
The corporate acquired Illinois-based Harbor Gentle Hospice on the shut of 2020, and bought Oklahoma-based Centennial Hospice for an undisclosed sum, and accomplished two offers in Sept. 2020, for Doctor’s Selection Hospice and Palladium Hospice, in addition to the acquisition of Oklahoma-based Religion Hospice in August.
Arizona ranks third within the nation in hospice utilization. Greater than 58% of Medicare descendants within the state elected hospice throughout 2018, in keeping with the Nationwide Hospice and Palliative Care Affiliation.
About 18% of the state’s inhabitants is 65 and older per the U.S. Census Bureau. The Arizona Division of Well being Providers reported that this quantity is anticipated to extend to an estimated 21% by 2050.