Gentiva Health Services, Inc. (NASDAQ:GTIV) announced on Thursday that it had acquired Advocate Hospice, located in Danville, Ind., for an undisclosed price.
Advocate was founded in 2006 and is a leading provider of end-of-life care in its community.
“The addition of Advocate Hospice to the Gentiva family enables us to expand our coverage in central and southern Indiana and to leverage our existing hospice and home health capabilities in the state,” said Gentiva CEO Tony Strange in a statement. “Going forward, we will continue to pursue acquisitions that make strategic sense and fill in geographic gaps in both of our divisions, while balancing these efforts with our continued focus on debt repayment.”
Gentiva is funding the acquisition from its cash reserves; the transaction is not expected to have a material impact on the company’s financial results.
Based on revenue, Gentiva is the nation’s largest provider of home health and hospice services and provides a continuum of care spanning skilled nursing, occupational, speech, and neurorehabilitation services, hospice services, help with activities of daily living, and more.
Written by Alyssa Gerace