Deacon Associates Acquires 31 Hospice, Home Health Agencies From HCA Healthcare
Deacon Associates has agreed to acquire 31 home health and hospice agencies from HCA Healthcare, with hospice representing 23% of the divested assets across eight states. The deal, expected to close within roughly three months pending regulatory approval, extends a consolidation thread that traces back to HCA’s 2021 acquisition of an 80% stake in Brookdale Senior Living’s home health and hospice segment for $400 million. Deacon CEO Trey Crabb said the move reflects a deliberate strategy to scale: growing larger lets the company spread fixed costs over a bigger operating base while reimbursement rates decline and care delivery costs rise. Financial terms of the new transaction were not disclosed.
Hospital systems are continuing to exit post-acute lines while specialized roll-ups absorb the volume, a clear signal for hospice and home health operators that scale and cost-spreading, not organic growth alone, are becoming the dominant playbook for surviving reimbursement pressure.
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Why is HCA Healthcare selling off its hospice and home health agencies?
HCA Healthcare divested 31 home health and hospice agencies across eight states to Deacon Associates, with hospice representing 23% of the divested assets. The move continues HCA’s pullback from post-acute care after entering the space via its 2021, $400 million acquisition of an 80% stake in Brookdale Senior Living’s home health and hospice segment.
What is Deacon Associates’ strategy behind the HCA Healthcare acquisition?
Deacon Associates CEO Trey Crabb said the deal reflects a decision to ‘double down’ on home health and hospice by scaling up, spreading fixed costs over a larger operating base as reimbursement rates decline and care delivery costs climb. The acquisition is expected to close in about three months pending regulatory approval.
How big was the 2021 HCA-Brookdale home health and hospice deal?
HCA Healthcare acquired an 80% stake in Brookdale Senior Living’s home health and hospice services segment in 2021 for $400 million. Several assets from that earlier transaction are included among the 31 agencies now being divested to Deacon Associates.