Humana on Monday announced it had signed a definitive agreement to purchase One Home Healthcare Solutions from private equity affiliate Waypoint Capital Partners, according to a news release.
Financial terms were not disclosed, and the sale is expected to close in the second quarter of 2021.
The acquisition of the home-based service provider One Home Healthcare, which does business as onehome, will build on Humana's growing value-based home health segment, the company said. The Louisville, Ky.-based insurer recently announced its plan to fully acquire and integrate Kindred at Home.
"At Humana, we are implementing a strategy to build a new value-based home health model that will improve patient outcomes, increase satisfaction for patients and providers and provide greater value for health plan partners. The acquisition of onehome is a key component of that strategy," Susan Diamond, Humana's interim CFO and segment president of Humana's home business, said in a statement. "By combining onehome's value-based approach with Kindred's home health services and Humana's analytical capabilities and clinical expertise, we believe we can create a transformational value-based offering to serve more people, including non-Humana plan members, nationwide."
Onehome already has served Humana customers since 2015 and operates a value-based model in Florida and Texas, Humana said. Onehome currently provides post-acute services like infusion care, nursing, occupational therapy, physical therapy and durable medical equipment at patients' homes.
Ramon Falero, CEO and Co-Founder of onehome, said demand for the company's home health services has grown during the COVID-19 pandemic.
Humana's plans to purchase onehome follow a number of other recent expansions into the home health space. The Ohio State University Wexner Medical Center plans to launch a home health joint venture with Alternate Solutions Health Network by August. And, in May, Visiting Nurse Association signed an agreement to sell its home health and hospice services to Baton Rouge, La.-based Amedisys. News of the purchase came less than a month after Amedisys signed an agreement that gave it the right to offer home health services in and around Randolph County, N.C., and provided access to 31,000 Medicare and Medicare Advantage enrollees.