PITTSBURGH, (November 18, 2015)—The Evangelical Lutheran Good Samaritan Society (the Society) recently announced the purchase of Heritage Healthcare Services, Inc., by Good Samaritan Society HCBS-Heritage, LLC, an affiliate of the Society. Heritage is a major provider of home care services and Medicare home health services in New Mexico and Arizona.
The Braff Group originated the transaction, and served as the exclusive mergers and acquisitions advisor to Heritage Healthcare Services.
"The acquisition of Heritage Healthcare Services by the Society is a big step forward in our plan to grow our home and community-based services," said Kim Johansen, President of Good Samaritan Society HCBS-Heritage, LLC. "Heritage is a very well-regarded provider of home-based services and a great addition to the Society's family of organizations. We are excited about the bright future we share."
With this purchase, the Society strengthens its robust offering of healthcare services in New Mexico and Arizona. These agencies join existing Society home health, hospice, skilled nursing, inpatient and outpatient rehabilitative services, assisted living, senior living, affordable housing and memory care services. The same great service that clients received from Heritage will continue and even be strengthened by the Society's more than 90-year history of providing excellent services and care.
"The Good Samaritan Society is a deeply respected provider of senior care and services, and we are very excited to be joining such a highly regarded family of organizations," said Len Trainor, Founder and CEO of Heritage. "Together, I know we will do great things."
"This transaction is another in a growing list of deals being completed by what we refer to as 'strategic adjacent providers,'" commented Mark Kulik, The Braff Group Managing Director for Home Health and Hospice that headed up the deal team representing Heritage. "In an effort to build out services to appeal to payers and other providers looking to coordinate and deliver care in the most clinically, financially, and patient friendly setting, such 'cross-sector' transactions are fast becoming the new normal in health care services consolidation."
Visit the thebraffgroup.com for more information.
