Houlihan Lokey Advises ProMedica

Houlihan Lokey is pleased to announce that ProMedica’s hospice and home care business, Heartland Hospice and Home Care (Heartland), has been acquired by Gentiva, a portfolio company of Clayton Dubilier & Rice. The transaction closed on November 1, 2023.

Heartland is a provider of hospice, home health, and palliative services and serves an average daily census of approximately 9,000 patients through more than 100 locations across 23 states.

Gentiva is a dedicated hospice, palliative, and personal care company driving improved access, equity, and quality of care for patients. Gentiva’s employees and caregivers are dedicated to offering clarity, comfort, and companionship while delivering high-quality care to all patients. The company operates over 500 locations across 38 states. Its team includes more than 35,000 associates, including 12,000 hospice clinicians and caregivers who provide unique, specialized care to thousands of patients in the communities Gentiva serves.

Houlihan Lokey’s Healthcare Group is among the largest dedicated healthcare investment banking groups in the world. In 2022, the group closed 37 transactions and was ranked by Refinitiv as the No. 1 M&A advisor for global healthcare transactions under $1 billion.* This transaction builds on Houlihan Lokey’s leading track record in the post-acute care sector.

Houlihan Lokey served as financial advisor to ProMedica and assisted in initiating, structuring, and negotiating the transaction on its behalf.