CHEMED CORP (CHE): M&A transaction — VITAS completes $85M acquisition of Covenant hospice operations in Florida and Alabama

CHEMED CORP

Purchased substantially all hospice operations and an assisted living facility from Covenant for $85M in cash.
Hospice markets include Pensacola, Tallahassee, Fort Walton Beach, Panama City in FL and Dothan, Mobile in AL.
Transaction was previously announced on March 13, 2024 and closed effective April 17, 2024.
Purchase funded using cash on-hand; no new debt or equity issued.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

CHEMED CORP completed an acquisition involving Covenant Health and Community Services, Inc., d/b/a Covenant Care for $85 million (closed 2024-04-17).

Action: acquisition
Counterparty: Covenant Health and Community Services, Inc., d/b/a Covenant Care
Consideration: $85 million
Closing: 2024-04-17

Exact text from the filing

VITAS Healthcare Corporation (“VITAS”), a wholly-owned indirect subsidiary of Chemed, completed its acquisition of substantially all hospice operations and an assisted living facility from Covenant Health and Community Services, Inc., d/b/a Covenant Care, a Florida not for profit corporation (“Covenant”), for $85 million.

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Source: SEC EDGAR

accession 0001562762-24-000090

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