Elara Caring has acquired Caregivers Home Health in a transaction that allows the company to enter the Iowa market and expand its footprint in Kansas.
The deal falls in line with Elara Caring’s strategy of acquiring companies that will facilitate footprint growth in their existing markets, and its expansion goals in the Midwest.
“There is significant growth potential in their current markets and Caregivers adds to our existing hospice operations in Kansas,” Elara Caring CEO Scott Powers told Home Health Care News in an email. “This aligns with our expansion goals in the Midwest. Additionally, Caregivers has developed substantial market share since 2004. Their quality outcomes, strong relationships with providers, and their community-based approach to care made them an ideal partner, and this deal enhances our ability to deliver exceptional, cost-effective home care across the care continuum. Culturally, this was an ideal fit, and that is a significant factor when considering new assets.”
Dallas-based Elara Caring is a home-based care provider with about 200 locations across 17 states. The company serves more than 60,000 patients.
Founded in 2004, Caregivers Home Health is a privately-owned company that operates in Kansas and Iowa.
“We have a great reputation for care in the communities we serve. Our patients love us and providers rely on us. We would only hand over the reins to a partner in whom we have absolute faith. Elara is that organization,” Caregivers Home Health CEO Ed Schulte said in a press statement. “Our team members, patients, and referral partners are in good hands.”
The deal marks Elara Caring first deal of 2024. Last year, Elara Caring purchased Assisted Daily Living. The company also acquired American Family Home Health in 2023. These deals allowed Elara Caring to expand in Rhode Island and Illinois.
“We have completed three successful acquisitions over the past year, enhancing our capabilities and reinforcing our commitment to delivering innovative, high-quality care,” Powers said in the email. “We prioritize partnerships with like-minded organizations that share our values of excellence and service.”
M&A will continue to be part of Elara Caring growth strategy, according to Powers.
“Elara is a growth-oriented company, we see inorganic, acquisitive growth as a natural complement to our organic expansion strategy,” he said. “Our acquisitions bolster our other growth initiatives, including de novo locations and further penetrating our existing markets. In a highly fragmented home care industry, we will continue seeking culturally aligned partners to expand our capabilities and reach, ultimately enhancing our ability to serve our patients. We expect to continue to expand and acquire for the remainder of 2024 and 2025.”
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