McBee Acts as a Strategic Advisor to BrightSpring Health Services on the Acquisition of Abode Healthcare
WAYNE, Pa., June 2, 2021 (Newswire.com) - McBee advised BrightSpring Health Services (BrightSpring) on the acquisition of Abode Healthcare, a network of Home Health and Hospice agencies. The Abode Healthcare transaction expanded BrightSpring's hospice and home health service lines.
BrightSpring Health Services is a home and community-based pharmacy and health services company committed to delivering quality service and care to high-need and medically complex communities. As the leading provider of diversified home and community-based health services, BrightSpring has grown to serve patients and clients across the post-acute care spectrum. BrightSpring provides approximately 80% of services in the home, with a primary focus on senior patients and individuals with behavioral healthcare needs.
"We were very pleased to work closely with McBee on the acquisition of Abode — an extremely important transaction for BrightSpring that allows us to accelerate our growth and expand our talent in home health and hospice services," said Chris Consalus, Senior Vice President of Development, BrightSpring.
McBee previously acted as a strategic advisor to BrightSpring for the acquisition of Advanced Home Care in March 2020, preparing the organization for the impact of the Patient-Driven Grouping Model (PDGM) and updates required by the Center for Medicare & Medicaid Services (CMS) to fully analyze claims for Medicare claims and reimbursement.
The purchase of Abode Healthcare will significantly increase BrightSpring's footprint in the hospice and home health provider market. This transaction brings 41 hospice and home care provider locations in 12 states.
"We saw the opportunity to acquire Abode Healthcare as our next step in strengthening our hospice and end-of-life care services, as well as expanding our geographic range. The merging of BrightSpring and Abode Healthcare will bring two industry-leading organizations together to advance the specialty programs and offerings of our home health and hospice agencies to better serve our patients and their loved ones," explained Consalus.
Through the merging of BrightSpring and Abode Healthcare, BrightSpring increases its home health and hospice care to now serve 17 states.
"We would like to congratulate BrightSpring on the successful completion of this acquisition, as this transaction highlights their commitment to supporting the evolving needs of the healthcare landscape and enhancing the post-acute care communities," said Mike Dordick, President of McBee. "Our years of experience and expert knowledge of regulatory compliance have positioned McBee as a market leader within home health and hospice M&A as well as enabled us to advise this strategic deal and deliver exceptional results to BrightSpring."
About BrightSpring Health Services
BrightSpring Health Services is the leading provider of complementary home and community-based pharmacy and health services for complex populations in need of specialized and/or chronic care. Through the company's lines of business, including pharmacy, home health, hospice, personal care, neuro rehabilitation, pediatric therapy, behavioral health, family and youth services, and workforce development, we provide comprehensive and specialized care and clinical services in 50 states to over 360,000 customers, clients and patients daily.
For more information, visit brightspringhealth.com. Follow us on Facebook, Twitter and LinkedIn.
About McBee
McBee is a recognized leader in providing financial, clinical and operational strategic advisory services that have addressed the unique needs of more than 3,800 providers across the healthcare industry. Since 1973, McBee has designed services to address challenges and ensure the success of healthcare organizations across the continuum of care by delivering meaningful insights, tailored strategies and sustainable results. With an average of over 20 years' experience, McBee's consulting professionals have extensive expertise and in-depth knowledge of healthcare regulations and policies. Health systems, physician groups, home health, hospice, long-term care, skilled nursing and other healthcare organizations across the nation look to McBee to provide comprehensive services and expert resolution of the various challenges they encounter. McBee's unwavering dedication backed by its industry knowledge has made it one of the largest, well-regarded healthcare consulting firms in the country. McBee is located in Wayne, Pennsylvania. Visit us at McBeeAssociates.com. Follow us on Twitter and LinkedIn.
McBee Media Contact:
Ashley Kuhn
484.734.0231
AshleyKuhn@McBeeAssociates.com
Source: McBee