Dallas-based AccentCare and Rosemont, Illinois-based Seasons Hospice & Palliative Care (Seasons), along with Advent International, the private equity sponsor of AccentCare, announced today they have finalized an agreement to combine their two organizations to better meet the growing needs for their services. The duo announced the intent to merge last month, and plan to move forward with a thoughtful integration now that the merger is complete.
Providing the full continuum of post-acute care as a unified organization will simplify the complexity that comes with navigating multiple companies, benefiting physicians, payors, and patients alike. Above all, both organizations remain dedicated to providing great service and enhancing capabilities health system and other strategic partners can rely on to ensure quality care for their patients.
“During the last several years, we’ve witnessed a growing need for post-acute care services that are patient-centered and easy to navigate,” said Steve Rodgers, CEO of AccentCare. “We are excited about the possibilities a combined organization will offer for all those we serve. With our expanded organization, we will be able to meet the demands of our patients and partners, and offer a full range of innovative solutions that streamline the process of accessing care.”
AccentCare has been a leader in the home health, personal care services and hospice spaces and is now complemented by Seasons’ leadership within the hospice and palliative care spaces. As part of the agreement, AccentCare’s Hospice services will merge with Seasons, and the hospice operations will be led by Todd Stern, CEO of Seasons. Stern will also serve as executive vice chair of the combined organization, infusing Seasons’ hospice experience and culture throughout the organization.
“We’re thrilled to head into the New Year as one organization,” said Stern. “The impact that we’re able to have together, with combined resources and new technologies, will only enhance the patient experience and quality of care for the individuals we serve and the partners who count on us.”
Seasons Hospice, Health Resource Solutions a 2,500-census home health provider in Illinois, Nebraska and Indiana, and Gareda, a personal care business in Illinois, serving over 4,500 clients annually, are all part of the merger with AccentCare, and will blend with their hospice, home health, and personal care services divisions respectively.
Together, the combined organizations will operate more than 225 sites of care across 26 states and employ nearly 30,000 qualified individuals. Additionally, the expanded organization will now serve 60 health system and physician practice joint ventures and strategic partnerships providing care to more than 175,000 patients and their families each year.
The combined organization will be headquartered in Dallas, Texas. The hospice division will be based out of Rosemont, Ill, where Seasons Hospice began.
Guggenheim Securities served as the exclusive financial advisor to Seasons Hospice & Palliative Care in this transaction.
AccentCare Inc., headquartered in Dallas, TX, is a nationally recognized leader in post-acute care, with more than 30 strategic partnerships aligned to deliver consistently exceptional care to patients and their families. AccentCare partnerships are with insurance companies, physician groups, and major health systems, including the joint venture companies AccentCare Asante Home Health, AccentCare UC San Diego Health at Home, AccentCare UCLA Health, AccentCare Fairview, and Texas Home Health Group, an affiliation with Baylor Scott & White Health. AccentCare has over 27,000 qualified professionals delivering personal/non-medical care, skilled nursing, rehabilitation, hospice, and care management services to more than 145,000 patients and clients annually, at more than 179 locations, in 17 states. In May of 2019, AccentCare was acquired by Advent International, one of the largest and most experienced global private equity investors.
AccentCare’s approach to delivering quality care, including proprietary RightPath disease-specific programs, leads the industry in expediting Starts of Care (SOC), and reducing hospital readmissions as is demonstrated by numerous third-party, evidence-based distinctions. All AccentCare home health and hospice agencies are CHAP-accredited, with an overall 4.8-star rating from Centers for Medicare and Medicaid Services (CMS). AccentCare is also honored to be recognized by the “We Honor Veterans” program. For more information on services available through AccentCare, visit accentcare.com
About Seasons Hospice & Palliative Care
Founded in 1997, Seasons Hospice & Palliative Care is the 5th largest hospice provider in the United States. Seasons offers high-quality compassionate care in 19 states through our 31 Medicare-certified programs. In 2019, Seasons caregivers served more than 30,000 patients and provided over 1.84 million days of care. Seasons has over 30 strategic partnerships with health systems, hospitals, and payors to provide high-quality and innovative care to the communities we serve.
Seasons is a leader in providing acute hospice care services, currently partnering to provide general inpatient and respite care to eligible patients via 22 facility-based and freestanding inpatient centers. All Seasons sites operate under the standards of the Joint Commission. Seasons offers many community-leading programs such as Namaste, Jewish Hospice Services, a Cultural Inclusion Council and Diversity, Equity, and Inclusion program, and Music Therapy. Seasons is the largest employer of board-certified music therapists in the United States.
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 350 private equity transactions in 41 countries, and as of September 30, 2020, had $66.2 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 200 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201222005624/en/
Copyright Business Wire 2020