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ProMedica strikes $710M deal to sell hospice, home-care assets

Toledo, Ohio-based ProMedica has agreed to sell its hospice and home-care business to Gentiva, a hospice company backed by Humana and private equity firm Clayton Dubilier & Rice, according to a Feb. 27 Bloomberg report.

The deal will add more than 120 locations to Gentiva, which already has around 380 locations nationwide and is the largest U.S. hospice company by revenue. Around 4,000 employees will join Gentiva.

ProMedica's hospice and home-care services treat around 9,000 patients per year, according to the report.

The deal is valued at $710 million, which includes debt.

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