BrightSpring Health Services plans to double its home health business over the next few years, President and CEO Jon Rousseau said Thursday.
The Louisville, Kentucky-based home care provider derives less than a quarter of its revenue from home health, hospice, and in-home primary care, with pharmacy services comprising the majority of its business. But Rousseau said during an earnings call that Medicare home health reimbursements could improve under the Trump administration, making the business ripe for expansion through acquisitions and new locations.
Related: Addus HomeCare moving full speed ahead on home health deals, CEO says
“We are hearing things from DC where a lot of people acknowledge that there does need to be more support there ultimately,” Rousseau said. “The [return on investment] data for home health in terms of the outcomes it can drive for people, keeping them out of the hospital and lowering mortality rates, has never been more positive.”
Rousseau said BrightSpring has approximately $100 million earmarked for acquisitions this year. He said the company also plans to open between 10 and 15 new home health and hospice locations in 2025.
BrightSpring Health Services operates home health locations across 13 states under a variety of names. The company operates other business units in all 50 states, serving about 350,000 patients annually.
The company reported net income of $15.4 million, or 22 cents per diluted share, for the fourth quarter of 2024. Quarterly revenue was $3.1 billion, a 28.6% increase over the same period in 2023. BrightSpring reported a loss of $7.2 million, or 6 cents per diluted share, in the fourth quarter of 2023 on revenue of $2.4 billion.
