VITAS Acquires Family Comfort Hospice
Founders Investment Banking, LLC (“Founders”) is pleased to announce that Family Comfort Hospice, LLC (“FCH”) has been acquired by VITAS, Inc. (“VITAS”), a subsidiary of Chemed Corporation (NYSE:CHE). FCH has developed a strong reputation for providing high quality, end-of-life care to patients and their families in Alabama with a focus on the Birmingham MSA. Founded in 2004, FCH has expanded to three locations around central Alabama and has developed an extensive referral network and meaningful census. VITAS, a pioneer and leader in the hospice movement since 1978, viewed the acquisition as a perfect opportunity to carry its like-minded patient and family-first mission to a new market.
ounders acted as the exclusive financial advisor to FCH shareholders in the transaction. “Hugh and his team have done a remarkable job of building a high-quality, profitable, and growing hospice,” indicated Duane Donner, Founders’ Managing Partner. “This really is a ‘coming together’ of two special companies with a shared vision of providing the highest possible quality of care and support to patients and families. I believe FCH will benefit tremendously from VITAS’ depth of clinical expertise and innovative approach to hospice care. VITAS has an excellent opportunity to bring scale and best practices to the Birmingham market and beyond by leveraging the strong foundation that the FCH team has created.”
“We are very excited to see Family Comfort Hospice take this next great step in its evolution,” commented Hugh McMurry, President of FCH. “VITAS has extensive experience, a broad network of contacts in the industry, and a compelling vision for the company that will take FCH to a new level. Duane and the Founders team were a pleasure to work with and served as a very valuable partner. I was impressed with their team’s fundamental understanding of the hospice industry as well as their persistence and commitment to this process. It was a team effort with the founding partners, Terri Salter, David Rogers and myself, in completing this transaction. We could not have been more pleased with the way Founders quarterbacked us through each phase, and we anticipate a bright future for FCH under the guidance of VITAS.”
“We are excited to continue the great work that Family Comfort Hospice has done in Birmingham and the surrounding community,” stated Tim O’Toole, CEO of VITAS. “As VITAS expands into the State of Alabama, we are committed to providing the highest quality of care for our patients. We look forward to building on the great success FCH has experienced and becoming an integral member of the community.”
Family Comfort Hospice offers a “family-centered” concept of caring for patients and families facing a terminal illness. The company was founded on the belief that patients, their families, and care-givers come first and that it is essential to provide a customizable and comprehensive treatment plan to meet their physical, emotional, and spiritual needs. Furthermore, they stand by the principle that quality of life is just as important as length of life.
VITAS was founded in 1978 as a pioneer and leader in the hospice movement. Publicly traded under the parent company Chemed Corporation (NYSE:CHE), the company is one of the nation’s largest providers of end-of-life care with operations in sixteen states and the District of Columbia and over 10,000 employees. VITAS is defined by the needs of the patients and families they serve and is committed to being a growing family of hospices providing the highest quality human services, products, and case management to terminally ill and other appropriate patients and their families with measurable advantages for the patient, the family, the medical community, the employee and the stockholder. The name “VITAS” is derived from the Latin word for “lives” and symbolizes the VITAS mission: to preserve the quality of life for those who have a limited time to live. For more information, please visit www.vitas.com.