BrightSpring Health Services Announces Definitive Agreement to Acquire Haven, Expanding Its Hospice Services into the CON State of Florida
LOUISVILLE, Ky., June 24, 2024 (GLOBE NEWSWIRE) -- BrightSpring Health Services (“BrightSpring” or “the Company”) (NASDAQ: BTSG), a leading provider of home and community-based health services for complex populations, today announced a definitive agreement to acquire the assets of North Central Florida Hospice, Inc. and Haven Medical Group, LLC (collectively “Haven Hospice”), a Florida-based company holding a Certificate of Need (CON) for comprehensive hospice care services in 18 counties in north central Florida.
“We are excited to welcome Haven Hospice into BrightSpring, bolstering our existing hospice care line of business and expanding our hospice services into the CON state of Florida,” said BrightSpring’s President and CEO Jon Rousseau. “The delivery of compassionate hospice care is critical for patients and their families, and we’re committed to delivering that to high-need Floridians. It is extremely difficult to enter the Florida hospice market, and with this recent expansion of services, we can now provide high-quality care to more patients and their families during the most difficult time in their lives.”
BrightSpring’s acquisition of Haven will allow the Company to provide advance care planning, palliative, and hospice services throughout Florida Agency for Health Care Administration service areas 3A, 4A, and 4B. Total consideration for the acquisition is $60 million, with $15 million in cash at close, $30 million in Company equity at close, and an additional $15 million in a seller note payable four years after closing.
The acquisition is expected to close in the third quarter of 2024.
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About BrightSpring Health Services
BrightSpring Health Services is the parent company of leading service lines that provide complementary and integrated home- and community-based pharmacy and health solutions for complex populations in need of specialized and/or chronic care. Through the company’s service lines, including pharmacy, primary care and home health care, and rehabilitation and behavioral health, we provide comprehensive care and clinical solutions in all 50 states to over 400,000 customers, clients and patients daily.
Forward Looking Statements
The statements contained in this press release that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on BrightSpring’s current expectations and are not guarantees of future performance. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. These expectations, beliefs, and projections are expressed in good faith and BrightSpring believes there is a reasonable basis for them. However, there can be no assurance that these expectations, beliefs, and projections will result or be achieved. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory, and other factors, many of which are beyond BrightSpring’s control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in BrightSpring’s filings with the Securities and Exchange Commission (the “SEC”) under caption “Risk Factors,” including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and subsequent other filings BrightSpring makes with the SEC from time to time. Any forward-looking statement in this press release speaks only as of the date of this release. BrightSpring undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
Media Contact:
Leigh White
502.630.7412
