Global Healthcare Advisors’ M&A Database


Our proprietary platform provides market intelligence on M&A deals, notable developments and regulatory changes pertinent to our clients.

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Showing results 1 through 50 of 10389

Website
Vertical
Category
QTR
Year
Summary
Ophthalmology
Deal
Q3
2020
1-800 Contacts, the largest retailer of contact lenses in the U.S., today announced a definitive agreement under which global investment firm KKR will acquire the company from AEA Investors. The sale follows many years of strong growth and technology innovation for the vision brand, which was purchased by AEA Investors in 2016. Innovation is central to 1-800 Contacts' strategy and differentiation as a pioneering direct-to-consumer (DTC) brand. Over the last several years, the company has made significant investments in technology and expanding its offerings, including acquiring vision technology startup 6over6 in late 2019 and launching new app-based offerings including ExpressExam, which enables consumers to renew contact lens prescriptions online in minutes.
OBGYN / Women's Health
Deal
Q3
2020
Axia Women's Health, a portfolio company of Audax Private Equity, has acquired Ocean OB/GYN Associates, a group of five OB/GYN providers in central New Jersey. No financial terms were disclosed. The partnership represents Axia Women's Health's 15th acquisition under Audax ownership.
Digital Health / Health Tech
Deal
Q3
2020
Parexel, a leading provider of solutions to accelerate the development and delivery of innovative therapies to improve world health, from clinical through commercialization, announced Tuesday it has completed the purchase of the Natural Language Processing (NLP) technology assets and transfer of key personnel of Roam Analytics, Inc., a healthcare software company based in San Francisco, California. This strategic move will further strengthen Parexel’s commitment to leveraging Artificial Intelligence (AI) and Machine Learning (ML) to drive new innovations across drug development and life sciences.
Business Services
Deal
Q3
2020
Irish healthcare services company Uniphar has acquired US-based healthcare communications company Diligent Health Solutions for up to $27 million as it builds market presence in North America. Uniphar said the acquisition would be “highly complementary” to its business and would help build connectivity between clients and key healthcare stakeholders through the provision of communication technologies. DHS, which employs 80 people, provides contact centre services, focuses on the delivery of medical information to patients, healthcare practitioners and payors. Uniphar will pay $10 million up font for the business, with the remainder of the price tag linked to earnings before interest, tax, depreciation and amortisation performance over four years.
Urgent Care
Notable Developments
Q3
2020
Private equity, health systems, and even insurers are all looking to acquire practices in various service lines, and urgent care is continuing to get the attention of consolidating forces in North Texas and beyond. The urgent care market is one that is quickly consolidating. The clinics are attractive because it is often more conveniently located and less expensive than hospitals, and easier to book than a primary care physician. But what makes this chain of urgent care facilities and urgent care in general, so attractive to private equity? Convenience, growth, and fragmentation are all part of the puzzle, says Blake Apel, partner at Trinity Hunt Partners.
Hospitals & Health Systems
Notable Developments
Q3
2020
Hospitals involved in mergers and acquisitions are mostly seeking to "survive" or "remain open," according to a study from BRG. For the study, BRG identified 127 hospital leaders involved with transactions in the past five years. At the time of the transactions, all of the executives were in a C-suite role, clinical leadership or senior executive. When asked about what was driving the merger or acquisition, the most common answer from hospital executives was to elevate chances of survival.
Behavioral Health
Notable Developments
Q3
2020
In 2019, 19.2% of adults had received any mental health treatment in the past 12 months, including 15.8% who had taken prescription medication fortheir mental health and 9.5% who received counseling or therapy from a mental health professional. Overall, as the level of urbanization decreased, the percentage of adults who had taken medication for their mental health increased, and the percentage who had received counseling or therapy decreased.
Medicare / Medicaid
Notable Developments
Q3
2020
As if things weren’t dramatic enough already in U.S. healthcare, a “battle of the narratives” has developed between senior officials at the Centers for Medicare & Medicaid Services (CMS), especially CMS Administrator Seema Verma, and the leaders of NAACOS— the National Association of ACOs—which have been locked in an ongoing war of words with each other for many months now.
Surgical Centers / Facilities and Practices
Notable Developments
Q3
2020
More than 5,800 Medicare-certified ambulatory surgery centers (ASC) provide outpatient services to Medicare beneficiaries. On average, Medicare pays ASCs one-half of hospital outpatient department (HOPD) rates for the same procedures, meaning that every time a procedure for a Medicare beneficiary is performed in an ASC instead of an HOPD, the Medicare program saves money. This report seeks to update estimates of those savings to the Medicare program for the period 2011 to 2018 and project those savings for 2019 through 2028.
Telehealth
Notable Developments
Q3
2020
Amazon Care, the virtual health clinic for employees, is undergoing its first major expansion beyond the Seattle area. The service, which is available to Amazon employees and their dependents, is designed to make it easier to access primary care by letting employees exchange messages with a health-care provider or jump on a video visit. There are also at-home visits available in some ZIP codes, although these are not part of the expansion. The clinic, which launched as a pilot in September of 2019, is described on its website as a new benefit for employees that offers “the best of both virtual and in-person care.”
Telehealth
Notable Developments
Q3
2020
Sam's Club, Walmart's retail warehouse buying club, is partnering with app-based telehealth vendor 98point6 to sell a subscription plan to Sam's Club customers following a successful yearlong pilot. Selling telehealth plans was something Sam's Club was thinking about prior to the pandemic, but COVID-19 accelerated rollout plans, according to John McDowell, VP of pharmacy operations and divisional merchandise. The 600 membership warehouses in the U.S. decided to invest more deeply in virtual care following the success of the 98point6 pilot launched in September last year.
Health Plans
Notable Developments
Q3
2020
Customer concentration issues have weighed on the process for CareCentrix, a home- and post-acute care benefits manager backed by Summit Partners.
Home Health & Hospice
Notable Developments
Q3
2020
While many senior care providers are currently trying to work themselves into the home, two of the largest in-home care franchise companies have found a way to work themselves out of it. Senior Helpers and BrightStar Care have each launched real estate-based business lines over the past few years. Both have managed to build on those new, home care-adjacent business lines during the COVID-19 crisis, while simultaneously growing their core in-home offerings.
Pharmaceuticals & Biopharmaceuticals
Notable Developments
Q3
2020
TPG Capital, the private equity platform of alternative asset firm TPG, announced Tuesday that it has formed a new specialty pharmaceutical company called Ellodi Pharmaceuticals. Ellodi Pharmaceuticals is dedicated to the clinical development of APT-1011, a novel therapy in Phase 3 development for the treatment of Eosinophilic Esophagitis (EoE) spun-out of Adare Pharmaceuticals (Adare). The formation of Ellodi Pharmaceuticals follows TPG Capital’s sale of Adare’s specialty CDMO pharmaceutical technology and microbiome businesses to Thomas H. Lee Partners and Frazier Healthcare Partners. As part of the transaction, TPG Capital retained ownership of APT-1011 and its related science with the intention to establish a new entity dedicated to the program’s continued development.
Contract Manufacturing Organizations
Deal
Q3
2020
Thomas H. Lee Partners, L.P. (“THL”) and Frazier Healthcare Partners (“Frazier”) today announced they have acquired Adare Pharmaceuticals, which will be rebranded Adare Pharma Solutions (“Adare”), a leading specialty contract development and manufacturing organization (CDMO) and global provider of advanced pharmaceutical technologies, from TPG Capital. The acquisition includes Adare’s CDMO, pharmaceutical technology and microbiome businesses, while TPG Capital will retain rights to Adare’s Eosinophilic Esophagitis (EoE) product, which has been spun out into a separate entity.
Healthcare Consulting, Pharmaceuticals & Biopharmaceuticals
Deal
Q3
2020
Odyssey Investment Partners ("Odyssey") announced today that it has entered into an agreement to acquire ProPharma Group (or the "Company") from Linden Capital Partners. Financial terms of the transaction were not disclosed. Founded in 2001, ProPharma Group is a leading provider of regulatory and compliance services to pharmaceutical, biotechnology and medical device customers. The Company's primary service offerings include regulatory affairs, life science consulting, pharmacovigilance and medical information services. ProPharma Group is headquartered in Overland Park, Kansas, with 5 US-based offices and 10 additional offices across Canada, UK, Netherlands, Sweden, Germany, Japan and Australia.
Diagnostics
Deal
Q3
2020
American Laboratory Products Company, Ltd. (ALPCO), a specialty in vitro diagnostics company, announced Monday the majority recapitalization of the company by Ampersand Capital Partners. Ampersand's investment will be used to support ALPCO's worldwide growth initiatives, including the expansion of the company's diagnostics test kit offering, broadening the company's geographic presence, and fueling internal R&D product development and production operations. ALPCO is a Salem, NH-based in vitro diagnostics company that offers specialty immunoassay products (IVD and RUO) primarily focused on the clinical gastroenterology and diabetes research segments.
Digital Health / Health Tech
Deal
Q3
2020
symplr, a leading global healthcare governance, risk, and compliance ("GRC") software-as-a-service ("SaaS") platform, backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and SkyKnight Capital (together with its affiliates, "SkyKnight"), has completed its acquisition of ComplyTrack® from Wolters Kluwer. The acquisition further strengthens symplr as a global healthcare GRC leader by adding ComplyTrack's risk and compliance software platform, encompassing issue and action management, incident management, contract and document management, and audit management SaaS solutions.
Digital Health / Health Tech, Oncology
Deal
Q3
2020
Remedy Health Media (Remedy), a leading digital health platform and portfolio company of Topspin Consumer Partners, today announced the acquisition of OBR (Oncology Business Review), an oncology-focused digital media company that provides news and information resources to oncologists and oncology healthcare professionals (HCPs). OBR is a leading resource for the entire oncology team, reaching an audience of more than 25,000 members daily.
Vertical
Deal
Q3
2020
A local private equity firm acquired a pair of manufacturers based in Indianapolis. Grand Rapids-based Auxo Investment Partners said Monday that it acquired Paramount Tube and Euclid Medical, two companies operating under the Indianapolis-based Precision Products Group (PPG) brand. Euclid Medical designs, engineers and manufactures highly engineered, automated single- and multidose pharmaceutical packing systems driven by proprietary software for use in hospitals, retail pharmacies and long-term care facilities. Euclid Medical also converts medical-grade films into consumable unit-dose pharmaceutical packaging.
Digital Health / Health Tech
Deal
Q3
2020
CB Scientific, Inc. (OTC: CBSC) (“CBSC” or the “Company”), a provider of innovative products and services for the ambulatory noninvasive cardiac monitoring space, announces recent disclosures regarding its acquisition of the operating business assets of Prevent Health Care International Corp. (PHCIC) and the disposition of CBSC’s former business assets related to cannabis testing products and services. CB Scientific, Inc. announces that it has concluded the acquisition of business assets, pursuant to an agreement with certain secured investors and controlling shareholders of Prevent Health Care International Corp., a private British Columbia, Canada, corporation.
Health Plans
Deal
Q3
2020
Integrity Marketing Group, LLC ("Integrity"), the nation's largest independent distributor of life and health insurance products, today announced it has acquired Insurance Administrative Solutions ("IAS"). IAS is one of the most prominent third-party administrators for insurance carriers. With over 300 employees, they are responsible for servicing more than $500 million in premium annually and administering over four million insurance claims for American families a year.
Life Sciences
Deal
Q3
2020
Bristol Myers Squibb (NYSE: BMY) announced Monday that it has successfully completed its transaction to acquire Forbius for their TGF-beta program, including its lead investigational asset AVID200, currently in Phase 1 for oncology and fibrosis. “We are pleased to complete the transaction with Forbius and add their TGF-beta program to our growing pipeline of innovative assets,” said Rupert Vessey, M.A., B.M., B.Ch., F.R.C.P., D.Phil., Executive Vice President and President, Research & Early Development, Bristol Myers Squibb.
Pharmaceuticals & Biopharmaceuticals
Deal
Q3
2020
Sanofi announced today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), applicable to Sanofi’s proposed acquisition of Principia Biopharma Inc. (“Principia”, NASDAQ: PRNB) has expired. On August 28, 2020, Sanofi commenced a tender offer (the “Offer”) to purchase all outstanding shares of common stock of Principia (the “Shares”) for $100 per share in cash, without interest thereon and net of any applicable withholding taxes. As a result of the expiration of the waiting period under the HSR Act, the condition to the Offer relating to the expiration or termination of the waiting period under the HSR Act has been satisfied.
Healthcare Investors / Advisors
Notable Developments
Q3
2020
There were more than 300 private equity deals in the healthcare industry in 2019, and the healthcare sector has continued to draw private equity investors in this year. Here are six private equity deals announced since Sept. 1, according to a list compiled by Becker's Hospital CFO Report.
Contract Research Organizations
Notable Developments
Q3
2020
Blackstone Group Inc., one of the world’s largest investment firms, is nearing a deal to buy Precision Medicine Group for about $2.3 billion, according to people familiar with the matter. The firm is set to buy a majority stake in the group from existing backers Berkshire Partners and TPG, said the people, who asked not to be identified because they weren’t authorized to speak publicly. No deal has been finalized and Blackstone may choose not to go ahead with the transaction.
Industry Trends
Notable Developments
Q3
2020
S&P is predicting the worst of the COVID-19 pandemic has passed for the healthcare sector, and that "a return to the lows of the earlier stages of pandemic in late March/early April" is not expected. However, the report noted a full rebound is not likely until a vaccine or other treatment for the novel coronavirus is available. As a result, many facets of healthcare delivery — including outpatient surgical centers, physical therapy, home healthcare and dental services — are not expected to fully rebound until 2022, although S&P mostly believes that the worst is over. Meanwhile, some sub-sectors have actually experienced a net gain during the pandemic — diagnostics, lab testing and life sciences among them.
Industry Trends
Notable Developments
Q3
2020
The pandemic has laid bare the vulnerability and waste associated with the traditional fee-for-service model, which is how most primary-care physicians are still paid, and has underscored the benefits of the increasingly enticing world of value-based care, wherein doctors receive set payments for managing patients’ health and have more flexibility in how they do that. But experts caution this isn’t the sort of arrangement a practice can go into on a whim. There are logistical hurdles, state and federal regulations, existing insurance contracts and cultural issues to consider.
OBGYN / Women's Health
Notable Developments
Q3
2020
US Fertility (“USF”), the largest physician-owned and physician-led management services organization supporting leading fertility programs across the United States and internationally, today announced it has created the largest physician partnership of reproductive endocrinologists in the U.S. USF was formed earlier this year through a partnership between Amulet Capital Partners, LP (“Amulet”), a middle-market private equity investment firm based in Greenwich, CT, focused exclusively on the healthcare sector, and Shady Grove Fertility (“SGF”), the largest independent fertility practice in the U.S. SGF is joined by Fertility Centers of Illinois (“FCI”), Reproductive Science Center of the San Francisco Bay Area (“RSC Bay”), and IVF Florida (“IVF FL”) in becoming founding practices of US Fertility. Collectively, the USF network currently comprises 55 locations across 10 states and, through its clinics and over 80 physicians, completed nearly 25,000 IVF cycles in 2018.
Diagnostics, OBGYN / Women's Health
Notable Developments
Q3
2020
The Fertility Partners ("TFP") announced today that it has partnered with leading genetic testing laboratory Sequence46 in Los Angeles, California. This investment significantly expands the comprehensive services offered by its Canada-wide network of fertility clinics in the pursuit of global best IVF clinical outcomes and the healthiest babies.
Health Plans
Notable Developments
Q3
2020
Today, Bright Health Inc. announced a $500 million Series E funding round with significant investments by funds and accounts advised by Tiger Global Management, T. Rowe Price Associates and Blackstone, with follow-on investments from existing investors including NEA, Bessemer Venture Partners and Greenspring Associates. With this fundraise, Bright Health Inc. has raised over $1.5 billion in equity financing since early 2016. The proceeds, along with the existing capital, will be used to accelerate the Company's growth and diversification of the business and geographies in which it operates. Bright Health Inc. operates in 43 markets and 13 states across the U.S.
Animal Health
Notable Developments
Q3
2020
Petco, a complete partner in pet health and wellness, today announced the opening of its 100th in-store veterinary hospital, located in Encinitas, Calif. The hospital opening serves as a significant milestone on Petco's rapid veterinary expansion journey, given the increased need for accessible and affordable veterinary care. The Encinitas in-store hospital opening is in partnership with THRIVE Affordable Vet Care, which Petco established a relationship with in 2017 as a priority, regional veterinary partner. Additional regional veterinary partners contributing to veterinary growth plans include Global Veterinary Partners (GVP), VetnCare and Vetco Total Care.
Health Plans
Notable Developments
Q3
2020
In less than two months, the Supreme Court is set to hear the case that could overturn the Affordable Care Act — without Ruth Bader Ginsburg on the bench, fanning anxieties the landmark law is in greater jeopardy due to her passing. "People should worry," Nicholas Bagley, a health law expert and professor at the University of Michigan, said. The death of the liberal justice on Friday at the age of 87 means that of the nine justices, there are now only three appointed by Democratic presidents instead of four.
Health Plans
Notable Developments
Q3
2020
Last week, four new reports lend credence to the likelihood that large investor owned health insurance companies will emerge from the pandemic as the big winners.
Oncology
Regulatory
Q3
2020
CMS on Friday unveiled a value-based payment model for radiation therapy for cancer patients that will launch Jan. 1, prompting the American Society for Radiation Oncology to call for a delay to avoid "unnecessary chaos" for its members. The bundled payment model, part of a final rule on specialty care models, is expected to save Medicare $230 million over five years. ASTRO contends that requiring radiation oncologists to start the model so soon will force burdensome practice changes and investments while they are grappling with staff shortages and other challenges during the COVID-19 pandemic.
Orthopedics
Deal
Q3
2020
FFL Partners ("FFL"), a private equity firm focused on growth investments in middle market companies, today announced that it has formed a new orthopedic health services organization, U.S. Orthopedic Partners ("USOP" or "the Company"). The Thurston Group, a Chicago-based private equity firm with a focus on investing in healthcare companies, also invested in USOP. Financial terms of the private transaction were not disclosed. USOP is a full-service, integrated orthopedic care platform that provides the full continuum of musculoskeletal treatment to patients in the Southeastern U.S.
Healthcare Information Technology
Deal
Q3
2020
TriNetX, the leading global health research network optimizing clinical research to bring new therapies to market faster, today announced global investment firm The Carlyle Group (NASDAQ: CG) has made a strategic growth investment and will acquire a majority stake in the Company. Terms of the transaction were not disclosed. Since its founding in 2013, TriNetX has built the largest global network of research hospitals and academic institutions, top biotech and pharmaceutical companies, contract research organizations (CROs) and other specialty data partners. TriNetX is powered by an impressive network of 170 healthcare organizations in 30 countries and used by more than 40 life sciences organizations including 15 of the world's top 20 pharmaceutical companies.
Billing & Coding
Deal
Q3
2020
Radiation Business Solutions (RBS) announced that they reached an agreement to purchase RADMAX, Inc., a radiation oncology medical billing company headquartered in Tyler, TX, effective August 31, 2020. RBS also announced the development of their new, quality-driven radiation oncology network, VidaCore. With the addition of RADMAX, RBS now serves nearly 208 physicians at over 89 cancer centers located in 27 states. RBS also owns and operates four freestanding radiation oncology centers through the company's development arm, RBS Evolution, and has partnered with Apollo Healthcare to provide value to proton centers.
Life Sciences
Deal
Q3
2020
GeneWerk GmbH, a cell and gene therapy testing laboratory focused on providing preclinical and clinical trial patient sample analysis services, today announced a majority investment from Ampersand Capital Partners, a private equity firm specializing in growth equity investments in the healthcare sector. Ampersand's growth investment will be used to expand GeneWerk's capabilities to meet rapidly growing demand for cell and gene therapy testing services. GeneWerk provides cell and gene therapy sponsors with patient testing services in compliance with guidance by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA).
Home Health & Hospice
Deal
Q3
2020
NOVA LEAP HEALTH CORP. (TSXV: NLH) ("Nova Leap" or “the Company”), a 2019 TSX Venture 50™ ranked company focused on the home health care industry, is pleased to announce that it has expanded operations in the South Central, U.S. region with the acquisition of an Arkansas home care business. The execution of the definitive agreement and related information pertaining to this acquisition was previously announced on September 8, 2020. “This acquisition builds on the investment we made in the region a year ago when we entered Oklahoma,” said Chris Dobbin, President & CEO of Nova Leap.
Diagnostics
Deal
Q3
2020
Illumina, Inc. (NASDAQ: ILMN) and GRAIL, a healthcare company whose mission is focused on multi-cancer early detection, today announced they have entered into a definitive agreement under which Illumina will acquire GRAIL for cash and stock consideration of $8 billion upon closing of the transaction. In addition, GRAIL stockholders will receive future payments representing a tiered single digit percentage of certain GRAIL-related revenues. The agreement has been approved by the Boards of Directors of Illumina and GRAIL.
Life Sciences
Deal
Q3
2020
Cend Therapeutics, Inc., a clinical-stage biotech company, announced today that it has acquired Impilo Therapeutics, Inc. The combination expands Cend’s drug delivery capabilities to create a unique platform for targeted tissue penetrating delivery of nucleic acid-based medicines to solid tumor cancers. While antisense and siRNA medicines have reached market for a range of metabolic, neurological and neuro-muscular conditions, none have reached market for anticancer applications. “By combining Impilo with Cend our objective is to address delivery issues that have limited the ability of nucleic acid-based medicines to benefit cancer patients,” commented David Slack, CEO of Cend.
Life Sciences
Deal
Q3
2020
BioLife Solutions, Inc. (NASDAQ: BLFS) ("BioLife" or the "Company"), a leading developer and supplier of a portfolio of class-defining bioproduction tools for cell and gene therapies, today announced it has entered into a definitive agreement to acquire SciSafe, a privately held multi-facility provider of biological materials storage to the cell and gene therapy and pharmaceutical industries. The transaction is expected to close on September 30th.
Real Estate Investment Trust
Deal
Q3
2020
A Kearny Mesa medical office and outpatient surgical center has been sold for $2.3 million. Booming International, Inc. sold the medical center to 8705 Complex, LLC. The 5,040 square-foot property at 8705-8707 Complex Drive has been used an outpatient surgical center for more than 20 years. Plans are to remodel the property as a medical center for the Cardiovascular Institute of San Diego.
Home Health & Hospice
Notable Developments
Q3
2020
The M&A rumor mill is starting to heat up in the home-based care space. On Friday, reports surfaced that Centerbridge Partners and Vistria Group are teaming up on a $1.4 billion deal for Wellspring Capital Management’s Help at Home. The rumored deal is valued off of EBITDA in the $110 million to $120 million range, according to PE Hub, which broke the news. Neither Wellspring nor Help at Home responded to a request for comment from Home Health Care News. Vistria and Centerbridge also did not respond to a request for comment. Founded in 1975, Help at Home provides a range of medical and non-medical services to seniors and individuals with disabilities. The Chicago-based provider currently operates in 13 states, serving about 67,000 clients across 155 locations.
Cardiovascular, Surgical Centers / Facilities and Practices
Notable Developments
Q3
2020
Changing federal and state rules are driving a rapid migration of cardiology procedures to the outpatient setting, according to ECG Management Consultants Principal Naya Kehayes and Associate Principal Sean Hartzell. Both ECG leaders spoke to Becker's ASC Review about this shift in the healthcare landscape and how ASCs can seize this new revenue opportunity.
Health Plans
Notable Developments
Q3
2020
Health Advocate, a unit of Apollo Global Management's Intrado, is back in the market amid a global health crisis that has encouraged a sharper focus on employee health and wellness, five sources familiar with the matter told PE Hub.
Health Plans
Notable Developments
Q3
2020
Delays in care due to Covid-19 will likely lead to reduced risk scores for Medicare Advantage (MA) patients, lowering plan payments in 2021. For now, the big questions facing MA plans are, “How much revenue could we lose—and can we close the gap by year-end?” An analysis by PopHealthCare shows that health plans could see double-digit decreases in the disease portion of risk scores due to deferred care during Covid-19. Unless plans can encourage members to seek preventive care by the end of the year, the impact on 2021 payment could be substantial.
Home Health & Hospice
Notable Developments
Q3
2020
Hospices seeking to sell their business to a larger provider or a private equity firm can attract potential buyers by leveraging their outcomes, scale and staffing. These factors dovetail with strategies that can help providers excel in payer negotiations within value-based payment structures.
Home Health & Hospice
Notable Developments
Q3
2020
Hospice of the Red River Valley, which provides care in Minnesota and North Dakota, is taking over the hospice operations of the Altru Health System. The transition will add 4,000 square miles to the hospice’s footprint, with much of the territory in rural areas. The organization’s service area will total nearly 43,000 square miles, Bonnie Oelschlager marketing & communications manager for Hospice of the Red River Valley, told Hospice News. While the two organizations did not confirm monetary details to Hospice News, the North Dakota newspaper the Grand Forks Herald reported that the transfer of operations was not a financial transaction.