Q1-2023 Home Health & Hospice Update
Q1 started off strong with CVS Health and UnitedHealth completing their acquisitions of Signify Health and LHC Group, respectively. Both acquisitions exemplify the trend of payors and large-cap healthcare companies acquiring home-based care providers to broaden their range of services into the home, improve patient outcomes, and better manage costs, which is becoming increasingly important in a value-based care environment.
In addition to the growing interest from payors and large-cap healthcare and tech companies, private equity investors continue to seek acquisition opportunities in the home-based care space, with a growing interest in the private pay sector. This is evident from recent platform investments, including HouseWorks and Family Tree Private Care. The growing investor interest in the private pay sector is attributed to uncertainties around reimbursement seen in 2022, lower levels of turnover. and the highly fragmented nature of the space.
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