Chemed Corp. announced on Wednesday that its subsidiary, Vitas Healthcare Corp., has agreed to acquire all hospice operations and an assisted living facility from Covenant Health and Community Services, Inc., also known as Covenant Care, for $85 million. The agreement was signed on March 12, 2024.
Covenant's hospice operations stretch across Florida and Alabama, including regions such as Tallahassee, Marianna, Fort Walton Beach, Panama City, Crestview, and Pensacola in Florida, as well as Dothan and Mobile/Daphne in Alabama.
The agreement is structured as an asset acquisition, with completion anticipated in the second quarter, pending the necessary approvals.
