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ShiftMed – a staffing platform – has acquired CareerStaff Unlimited from Genesis HealthCare, a provider of long-term care services.
“CareerStaff’s integration with ShiftMed allows us to meet 100% of our customers’ on-demand needs through a single workforce platform,” ShiftMed CEO Todd Walrath said in a press release. “By bringing together ShiftMed’s acclaimed mobile-first product suite with CareerStaff’s best-in-class MSP solution, we are establishing the industry’s first end-to-end digital MSP.”
CareerStaff is a healthcare-focused staffing solutions and staffing services company. The company also offers managed service programs (MSPs) to hundreds of healthcare organizations across the United States
ShiftMed, in turn, hires healthcare workers and contracts with healthcare providers based on the needs of these organizations. The company has over 1,500 partners, including home care agencies, skilled nursing facilities (SNFs), hospitals and assisted living providers.
Under the agreement, ShiftMed and CareerStaff will provide their services to Genesis under a seven-year exclusive agreement.
“CareerStaff has been an integral part of Genesis affiliated locations over the past decade and we are excited to leverage ShiftMed’s on-demand technology and internal staffing platform to improve patient outcomes and achieve optimal staffing levels,” said David Harrington, CEO of Genesis Statement.
Risant Health completes acquisition of Geisinger
Risant Health has completed its acquisition of Geisinger. The organizations will work as a unit to create a new value-based care platform.
Risant Health is a new nonprofit group formed from Kaiser Permanente’s acquisition of Geisinger Health.
Geisinger is a value-based care provider serving 1.2 million people across Pennsylvania. The organization’s home services arm, Geisinger at Home, has served more than 11,000 patients in 17 counties in recent years.
The acquisition, Risant Health’s first, combines Kaiser Permanente’s integrated care and insurance capabilities with Geisinger’s expertise in advancing value-based care.
As part of the completion of the takeover, Dr. Jaewon Ryu, who has been president and CEO of Geisinger since 2019, is the first CEO of Risant Health.
“Geisinger is proud to officially join Risant Health as the first health system, which will advance our vision of making better health easier, more affordable and more accessible for the communities we serve,” Ryu said in a press release. “Geisinger can now extend its vision, strategy and impact to more Pennsylvanians as joining Risant Health provides access to an expanded set of tools, expertise and capital.”
In addition, Dr. Terry Gilliland will assume the role of President and CEO of Geisinger once Ryu’s transition to Risant Health is complete.
“Risant Health and Geisinger share a vision for the future of healthcare,” Risant Health Chief Executive Officer Greg A. Adams said in the release. “Through Risant Health, we will leverage our industry-leading expertise and innovations to increase the country’s access to high-quality, evidence-based healthcare that we know improves the quality of care and the patient and member experience. We will also learn and benefit from Geisinger and the additional health systems that become part of Risant Health in the future to help them grow in new ways, become more affordable and provide value-based care to more people.”
Nova Leap has reached a definitive agreement
On April 25, Nova Leap Health Corporation entered into a definitive agreement to purchase a home care company with operations in Massachusetts.
Nova Leap is a Canada-based home care organization that has been actively expanding its presence in the United States. The company has offices in Nova Scotia and 11 different US states.
Nova Leap’s acquisition target calls for annual revenue of $800,000 in 2023 and adjusted EBITDA of approximately $100,000.
The agreement provides for a total purchase price of $300,000.
“As noted in my March 7 letter to shareholders, Nova Leap is in an excellent position to restart its acquisition program,” Chris Dobbin, president and CEO of Nova Leap, said in a press release. “We are excited to complete our first acquisition in 2024 in Massachusetts, a state where we currently operate multiple agencies and where we see significant growth potential going forward. We look forward to working with a great group of people once the acquisition is complete.”
Sunstone Partners is making growth investments in Accuhealth
Private equity firm Sunstone Partners has invested in Accuhealth, a healthcare technology company that provides remote patient monitoring (RPM) and chronic care management (CCM) solutions.
“We are pleased to welcome Sunstone Partners as a strategic partner on our journey to redefine healthcare through innovation,” Stephen Samson, CEO and co-founder of Accuhealth, said in a press release. “This investment marks a pivotal moment for Accuhealth, allowing us to accelerate our growth trajectory and further enhance our RPM and CCM solutions. With the support of Sunstone Partners, we are able to increase value for our customers, attract top talent and ultimately improve patient outcomes.”
Chris Schmaltz will join Accuhealth as Executive Chairman. Previously, Schmaltz served as Chief Value-Based Care Officer at Panoramic Health and COO of Alignment Health.
Additionally, Jennifer Bahr, who previously served as CFO of Sunstone Partners, will join Accuhealth as CFO.
“We are pleased to partner with Stephen and the Accuhealth management team and add Chris and Jeni to the leadership team,” Arneek Multani, managing partner and co-founder of Sunstone, said in the statement. “While RPM and CCM are not new, we believe adoption of these services is accelerating. We look forward to building an industry leader in this exciting market.”
Pennant Group buys senior living companies
Pennant Group Inc. (Nasdaq: PNTG) has acquired the properties and operations of Capitol Hill Senior Living and Southgate Senior Living. Both companies are based in Utah.
“We are excited to expand our senior living portfolio into Utah. The acquisition of these senior living communities will allow us to expand our services across the continuum of care in a state where we already have significant strengths in our existing home health and hospice agencies in Utah,” Pennant CEO Brent Guerisoli said in a press release Opinion. “Furthermore, this acquisition demonstrates the compelling win-win opportunity Pennant offers in building its real estate portfolio while creating value for local residents and communities.”
Based in Eagle, Idaho, Pennant is a holding company of independent subsidiaries throughout the United States with a network that includes 104 home health and hospice agencies and 53 senior living communities.
As a company, Pennant has always prioritized the growth of home health. In recent years, the company has made a number of purchases in this sector, with a focus on community-based home care agencies.
Viemed takes over majority stake in HomeMed
Viemed Healthcare Inc. (Nasdaq: VMD), a provider of respiratory care and technology-enabled home healthcare devices, has entered into a strategic partnership with East Alabama Health that gives Viemed a majority stake in HomeMed.
HomeMed is a home medical device services provider.
“We are thrilled to partner with the exceptional team at East Alabama Health to provide their patients with best-in-class home health services and expand HomeMed’s business through the strategic partnership,” Viemed CEO Casey Hoyt said in a press release. “This is a significant milestone in our ongoing growth strategy, which includes hospital joint ventures and institutional partnerships. We view this transaction as a blueprint that can be replicated nationwide, improving the quality of care while adding value to healthcare systems.”
The deal officially closed on April 1, 2024. East Alabama Health will hold a minority, non-controlling interest in HomeMed. Viemed expects additional annual sales from the acquired operations of around $4 million.