Abode Healthcare, a provider of home health care and hospice services with an office in Durango, was acquired by BrightSpring Health Services in a deal reportedly valued at $775 million.
Abode provides home health care and hospice services in 41 locations in 12 states across the country. The website lists its home office in Seattle with another office in Durango.
According to Abode’s website, it serves 21 counties in Colorado with home health care and hospice services, but it doesn’t operate in La Plata County. The nearest counties it services are Mesa, Montrose and Delta counties.
In a news release issued Friday, Mike McMaude, Abode CEO, said, “We are thrilled to become part of the BrightSpring family. Abode’s patient-first philosophy, focus on delivering the best care in lower cost and preferred settings, and strong management and clinical teams are entirely consistent with BrightSpring’s priorities and culture and a great combination.”
McMaude will continue to lead the business under the Abode and its affiliate names, according to the news release.
In the news release, BrightSpring President and CEO Jon Rousseau said, “As a leading home health and hospice services provider, Abode and its family of brands across its markets of service will enhance the company’s position and market-leading service levels in the industry.”
Rousseau said Abode and BrightSpring’s combined footprint will speed the ability to bring a “comprehensive, customizable local home health and hospice service model to more communities across the country.”
The clients served by Abode and BrightSpring are provided clinical support, personal care support and pharmacy services, including medication therapy management.
According to a report in Louisville Business First, the acquisition of Abode brings BrightSpring to about 1,600 employees and expands BrightSpring’s home health division to 17 states with 125 locations.
In March, a report from pehub.com estimated that the pending BrightSpring deal valued Abode Healthcare at $775 million. BrightSpring has declined Louisville Business First requests to confirm the value of the deal, but executives with BrightSpring also said the pehub.com report was accurate. The report also said the deal would boost BrightSpring’s annual revenue to $6 billion.
Louisville Business First has reported that BrightSpring’s 2019 annual revenue was about $4.86 billion.
BrightSpring is owned by KKR & Co. Inc., a New York City global investment company. KKR acquired BrightSpring in March 2019.
parmijo@durangoherald.com
