Sun Healthcare Group, Inc. (NASDAQ: SUNH) announced that its subsidiary, SolAmor Hospice Corporation, has completed the acquisition of Allegiance Hospice Group, Inc. Allegiance is a privately-held, Medicare-certified hospice company headquartered in Lowell, Mass. that provides services to approximately 300 hospice patients in Maine, Massachusetts and New Hampshire. The transaction extends SolAmor Hospice’s footprint eight states with almost 860 patients daily representing $43 million in annualized revenue.
"The geographic markets that Allegiance serves fit perfectly with the SolAmor markets, and the acquisition is expected to increase the size of SolAmor’s revenue by almost 70 percent," said Richard K. Matros, chairman and chief executive officer of Sun Healthcare Group, Inc. "We are pleased with the performance of SolAmor and look forward to additional opportunities to grow in this segment," added Matros.
