Traditions Health has acquired US-based hospice operators Physician’s Choice Hospice and Palladium Hospice and Palliative Care.
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Financial terms were not disclosed.
The acquisitions will enable Traditions to deliver clinical care to a broader range of patients across the US.
Furthermore, the addition of Physician’s Choice and its five locations throughout Oklahoma will position the buyer as a leading hospice operator in the state.
Palladium Hospice offers clinical and palliative home care for patients living with advanced illnesses.
Through the acquisition, Traditions will pick up six locations in South Carolina and two in Mississippi and strengthen its footprint in the southeast US.
The deal with Palladium Hospice will also bolster the buyer’s existing presence in Georgia.
Oklahoma-headquartered Physician’s Choice claims to be the largest provider of hospice care in the state.
The group offers weekly nursing visits, bi-weekly meetings with physicians to discuss a patient’s status, as well as pet, music and massage therapies.
Physician’s Choice also provides transportation services and bereavement counselling for families.
Bryan Wolfe, president of Traditions, said: “I am extremely excited to expand our services to South Carolina and Mississippi and strengthen our existing presence in Oklahoma and Georgia.”
Physician’s Choice’s founder, Ginger Barsotti, noted the transaction will support the company’s plans for long-term growth.
Traditions is no stranger to the acquisition trail; in June this year, it bought Texas-based Lynn Hospice for an undisclosed sum.
Formed in 2008, the purchaser offers hospice care and home health care consulting services to over 3,250 patients in seven states across the US.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 43 deals targeting home health care services providers announced worldwide since the beginning of 2020, down slightly from the 52 transactions signed off for the corresponding period of 2019.
In the largest of these, US-based Somatus raised USD 64.00 billion through a funding round.
© Zephus Ltd