Hospice service provider Compassus is acquiring Hospice Advantage from private equity firm Sentinel Capital Partners. Financial terms were not disclosed.
Hospice Advantage provides hospice and other health care services through 60 locations mostly in the Midwest and Southeast. The Bay City, Michigan-based target was founded in 2004 by Rod Hildebrant, who will stay on with the new combined company as president.
Sentinel invested in Hospice Advantage in 2013. Under the PE firm’s ownership, Hospice Advantage expanded into four new states and completed 15 add-on acquisitions, including the purchase of Life Choice Hospice earlier in 2015.
“As Compassus continues to grow, it further strengthens our ability and desire to provide greater access to high-quality hospice and palliative care, serving patients, their families and health care professionals serving them,” says Compassus CEO Jim Deal, who will lead the new combined company.
Together, Compassus and Hospice Advantage will have 150 locations across 15 states and will operate under the Compassus brand.
In other recent health care real estate related deals, Blackstone announced plans to buy BioMed Realty Trust, which owns properties that house biotech companies and HealthSouth Corp. (NYSE: HLS) said it will purchase rehabilitation operator Reliant Hospital Partners for $730 million.