New Day Healthcare Expands with Heritage Home Healthcare Acquisition
New Day Healthcare Expands role in Home Care with Heritage Acquisition
New Day Healthcare, a home-based care provider, announced Wednesday its acquisition of Heritage Home Healthcare, a move that establishes its presence in New Mexico and broadens its role in the industry.This marks New Day’s 15th acquisition to date.
Heritage Home Healthcare employs over 900 caregivers who provide home care, hospice, and skilled nursing services to more then 1,100 patients each day across New Mexico. Texas-based New Day Healthcare already offers a range of services, including home health, hospice, pediatric care, and clinical decision support, across Texas, Missouri, Kansas, and Illinois. The company’s 10,000 employees serve nearly 180,000 patients annually.
Heritage Home Healthcare will continue to operate under its existing brand. New Day Healthcare plans to implement its “continuum-based model” and CareLytics software to foster growth and improve patient care workflows, according to Matthew Griffith, chief development and strategy officer at New Day.
New Day Healthcare describes its acquisition strategy as “disciplined.” In November,the company secured a $125 million senior credit facility with Frist Citizens Bank to support its acquisition plans.
“We are pleased to partner with the Heritage Home Healthcare team,” said G. Scott Herman, founder and CEO of New Day. “We have been familiar with the company since 2016, and their reputation [for] high-quality care delivery and the constant pursuit of excellence, coupled with their ‘patient first’ culture, aligns perfectly with New Day Healthcare.”
What’s next
The acquisition is expected to close in july. Financial terms of the deal were not disclosed. New Day anticipates “continued strong expansion across multiple service lines” for Heritage.