There’s been no shortage of home health and hospice dealmaking over the last several months (including the non-medical kind of home care), and the exuberance of the market is only continuing. Now, KKR-backed BrightSpring Health Services has clinched a deal for Summit Partners’ Abode Healthcare in a bid to substantially build out its home health and hospice business, according to five people familiar with the pending transaction.
The transaction, which is currently awaiting regulatory approval, values Abode at approximately $775 million, the people said.
Abode aligns with BrightSpring’s overall strategy of building out the three complementary components to provide integrated care for complex and in-need patient populations with multiple chronic comorbidities. The company primarily serves seniors and individuals with behavioral healthcare needs, with 80 percent of its services provided in or to the home.
Abode adds to the streak of hospice care activity in recent months, with Webster Equity’s Bristol Hospice newly in the market and a process for the home health and hospice unit of Brookdale Senior Living in the late stages. Hit me up if you’ve heard any updates on either, and check out my full story on BrightSpring-Abode for more behind the deal.
Homebuilding-tech: You need tech for everything these days, right? Private equity-backed Buildertrend has acquired CoConstruct, a complementary construction software technology business, as the homebuilding industry finds itself ripe for innovation, Milana Vinn writes.
CoConstruct marks a sizable add-on for the Buildertrend platform, a cloud-based construction management software provider acquired in December 2020 by Bain Capital Tech Opportunities and HGGC.
“The industry is having trouble keeping up with new home sales, and Buildertrend can be a powerful tool to help boost efficiency and control costs,” Phil Meicler, managing director at Bain Capital Tech Opportunities, told PE Hub. Read more here.
That’s it for today! Have a great week, readers, and as always, write to me with feedback, tips and gossip or whatever at firstname.lastname@example.org.