ProMedica has completed the sale of its home health, hospice and palliative care business to home-based care provider Gentiva Health Services.
Gentiva said Wednesday it received all state and federal regulatory approvals for the deal, a transaction Bloomberg previously valued at approximately $710 million. Gentiva and ProMedica, a Toledo, Ohio-based nonprofit healthcare system, signed a definitive agreement in February.
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"As a combined company, we plan to increase the number of caregivers and provide greater access to our care offering to more patients in the communities we serve," said David Causby, president and chief executive officer of Gentiva, in a news release.
Causby will remain Gentiva’s president and CEO and the combined company will be headquartered in Atlanta. Most of ProMedica’s hospice locations will rebrand to Heartland Hospice by year's end while its home health locations will rebrand to Heartland Home Health in early 2024. ProMedica’s palliative care unit will operate under Gentiva’s Empatia Palliative Care name.
ProMedica's approximately 4,000 employees will join Gentiva, which operates 615 locations across 38 states with 35,000 employees.
The sale of ProMedica’s home-based care unit follows its exit last year from skilled nursing joint venture it had with Welltower. It sold a 15% stake in 147 skilled nursing facilities to Integra Health.
