VITAS to acquire Covenant Care hospice assets for $85M in cash

CHEMED CORP

VITAS (Chemed subsidiary) agreed to purchase Covenant Care's hospice operations and an assisted living facility for $85M cash.
Assets span Florida panhandle (Pensacola, Tallahassee, etc.) and Alabama (Dothan, Mobile) markets.
Transaction structured as asset purchase, expected to close in Q2 2024 subject to regulatory approvals.
VITAS Chairman & CEO Nick Westfall highlights cultural alignment and plans to welcome Covenant team members.

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