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Home Health & Hospice Week

Industry Notes:

Ohio Chain Makes Big Buy

Published on Wed Nov 16, 2011

An Ohio chain has made its biggest acquisition to date. Kenwood-based Home Care by Black Stone has acquired Caring Hearts Home Health Care, also based in Kenwood, according to a release. Caring Hearts is the area's largest minorityowned home care provider, serves about 1,000 patients, and has annual revenues exceeding $6.5 million. With the acquisition, Black Stone expects to reach $33.5 million in revenues annually and serve more than 4,000 seniors, the company says. About 200 Caring Hearts home care aides,50 nurses and therapists, and 11 administrative staffers will join Black Stone, the release notes. This acquisition is bigger than all five of Black Stone's previous acquisitions combined, notes Black Stone CEO David Tramontana. The deal will help the company navigate expected reimbursement cuts ahead.
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