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Mergers & Acquisitions
Beverly to purchase Hospice USA
June 23rd, 2004
Beverly Enterprises, Inc., (BEV) announced that its AseraCare Hospice subsidiary signed a definitive agreement to purchase the assets of Hospice USA, L.L.C., a privately held company providing hospice services in Mississippi, Alabama, and Tennessee. The acquisition is expected to be accretive to Beverly's pre-tax income by more than $6 million in the first full year. The cash transaction is subject to normal licensure and government approvals, and is expected to close around July 31. The purchase price is not being disclosed. Hospice USA, based in Memphis, Tennessee, currently operates 18 hospice agencies and has another 16 under development. Its...
Source: elder law weekly (2004-06-23)
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