Q4-2018 Home Health & Hospice Update

This quarter replicated the trend of private equity investors continuing to enter the post-acute care space. This October, Bain Capital, with $105 billion AUM, completed their second investment into the space in their acquisition of Arosa and LivHome, with the goal of creating a national in-home care provider. This investment is indicative of the interest level towards home health and hospice in the large-cap firms and trickling into the lower middle market. With a number of others establishing platforms, private equity investors clearly remain bullish, which is translating into heightened valuation levels for groups of all sizes. As we continue to see consolidation within the industry, smaller groups are able to utilize M&A as a way to offset the burden of competing with the data capabilities and scale of these larger platforms.

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Sources: SEC Filings; Company Press Releases, and Reports; IBISWorld; Capital IQ; PHP Estimates and Research. This document has been compiled with publicly available information. Provident Healthcare Partners, LLC makes no guarantee of its accuracy or completeness. No data or statement should be construed to be a recommendation for the purchase, sale, or retention of any security.