Caring People has acquired Dallas-based hospice provider Acappella In Home Care. The New York-headquartered home health company on the same day also purchased home care organization Aging Care LLC and AMR Care Group, a care management firm. Financial terms for the three transactions were not disclosed.
In addition to hospice, Acappella’s 400 employees also provide home health, private duty and companion services throughout 13 Texas counties.
“When [Caring People CEO] Steven East reached out to me, I found our values and commitment to customer service were like-minded,” said Acappella CEO Jo Alch. “Providing excellent customer service combined with hiring exceptional individuals has been the key to our success. We both started our own agencies with little money and big visions. Years later, here we are. The future is exciting.”
Five of the nation’s fastest-growing cities are located in Texas, according to the National Census Bureau.
Demographic tailwinds have been fueling a thriving hospice market in Texas. The Lone Star State has the third largest elderly population in the nation, according to the Texas Demographic Center, a state institution. The number of Texans 65 or older grew by 49.5% between 2000 and 2014. Only California experienced a higher rate of increase among their senior population.
Texas ranks 15th among the states in hospice utilization, with 52.8% of Medicare decedents electing hospice in 2018, according to the National Hospice & Palliative Care Organization. Utah has the highest rate of utilization at 60.6%.
Caring People is a portfolio company of Silver Oaks Services Partners, a middle market private equity firm that purchased the home health organization in 2017 for an undisclosed sum.
In addition to the three acquisitions, Caring People is opening a home health de novo location in Connecticutt
“This is only part of the beginning,” East said. “We’ve grown tremendously from our newest team expansions. Our plans for projected growth will continue catapulting Caring People into new markets and territories throughout the northeast and beyond. It’s been my life’s passion to provide our most vulnerable population, seniors, access to the best level of care possible from providers who truly have a desire and heart for health care.”
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August 20, 2020 at 08:29PM
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Caring People Acquires Acappella in Home Care - Hospice News
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