AMERICAN HOSPICE ACQUIRES
HOSPICE CARE OF THE SOUTHWEST / CONROE AND LIVINGSTON, TEXAS
Pittsburgh, PA, September 6, 2011. American Hospice, a portfolio company of The Riverside Company, recently announced its acquisition of the Conroe and Livingston, Texas locations of Hospice Care of the Southwest, a leading provider of hospice services in the Houston suburbs.
The Braff Group (TBG) served as exclusive merger and acquisition advisor for Hospice Care of the Southwest.
This acquisition marks American Hospice’s entry into the state of Texas with plans to expand the service area and deepen roots in the west.
Based in Jacksonville, FL, the mission of American Hospice is to enhance the quality of life, by maintaining patient dignity and comfort, while providing excellent service to its patients and families through hiring and developing the very best hospice staff. The acquisition of Hospice Care of the Southwest in Conroe and Livingston Texas brings American Hospice closer to accomplishing such objective.
“This acquisition is a key step in our plan to grow our national footprint by expanding service in strategic markets new to American Hospice,” reports Jeff Preuss, CEO. “More steps will follow.”
“The hospice M&A market continues to be the most vibrant of all the health care service sectors we cover,” commented Steve Braff, The Braff Group Managing Director that headed up the deal team representing Hospice Care of the Southwest. “According to proprietary data compiled by TBG, deal volume through June is already running 13% ahead the same period last year, which was a record for the sector. At least until a blue-print for payment reform is released, we expect the hospice merger and acquisition market to remain robust.”
About American Hospice
With the acquisition of Hospice Care of the Southwest, American Hospice has established hospice programs in Arizona, Oklahoma, Virginia, New Jersey, Georgia, and Texas, and has increased its total number of locations to 26 sites. Since 1992, American Hospice has played a significant role in the hospice industry emerging as the first premier management company. In 2004, The Riverside Company partnered with American Hospice in a recapitalization that established American Hospice as one of the nation’s largest hospice companies.
About The Braff Group
The Braff Group is the leading merger and acquisition advisory firm specializing in health care services including hospice, home health care, specialty pharmacy, infusion therapy, behavioral health and social services, home medical equipment, and health care staffing. The firm provides an array of transactional advisory services including sell side representation, debt and equity recapitalizations, strategic planning, and valuation. Since being founded in 1998, The Braff Group has completed more than 175 transactions.
According to Thomson Reuters, for the three years ended 2010, The Braff Group was ranked number one in Health Care Services merger and acquisition transaction volume.
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