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Jet Health acquires Carrington Hospice
Posted on Monday, 14 September 2020 13:38
Jet Health has bought US-based hospice company Carrington Hospice Care.
The deal is in line with the acquiror’s strategy of offering hospice services across the home health markets it currently operates in.
Financial details were not disclosed.
Based in Texas, Carrington Hospice provides hospice care services and facilities for patients and customers in the Dallas and Fort Worth marketplace.
Founded by Elsie Johnson and Dorothy Ojirika, the target will allow Jet Health to expand its hospice offerings throughout its geographic footprint.
Stacie Bratcher, chief executive of Jet Health, said: “The completion of this transaction in the Dallas/Fort Worth marketplace demonstrates Jet Health’s ability to execute on our strategy of becoming a multiple service line provider of home-based care across the four key home health markets we currently serve.
“By providing our home health patients a choice to remain in our care as they transition to hospice, we will improve the continuity of care and overall patient satisfaction of those we serve.”
The deal will also help strengthen Carrington Hospice’s market position in Texas.
Located in California, the buyer provides home health and hospice services, including skilled nursing care, physical speech and therapy, as well as personal care and companion programmes.
Established in 2016, Jet Health operates sites in Texas, New Mexico and Idaho.
The company plans to strengthen its activities through organic growth, strategic acquisitions and de novo development in target markets.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 43 deals targeting home health care services providers announced globally in 2020 to date.
US-based Somatus raised USD 64.00 million through a funding round in the most valuable of these.
Japan Elderly Care Services, Allphase Clinical Research Services and LHC Group, among other companies, were also targeted in this sector.
© Zephus Ltd