Following the successful launch of an initial public offering in January, home- and community-based services provider BrightSpring on Tuesday disclosed the details of recent acquisitions made during the first quarter of 2024.
BrightSpring, which is active in all 50 states, first made a home health tuck-in acquisition in Maryland, which went into effect Jan. 1, according to a statement from the company. It also obtained the remaining 30% equity interest in a behavioral therapy joint venture in Michigan, which went into effect March 1. And effective March 19, BrightSpring obtained a long-term care pharmacy in Montana with tuck-in assisted living facilities, group homes and mental health patients.
These recent acquisitions occurred in states with existing BrightSpring operations, a company representative told McKnight’s Home Care Daily Pulse.
“These companies share our values and strong commitment to providing top-quality care to high-need patient populations who require it most,” Jon Rousseau, BrightSpring’s president and chief executive officer, said in a public statement Tuesday. “We are excited to welcome these companies and their employees to our uniquely scaled and differentiated BrightSpring platform consisting of leading and complementary health services.”
Strategic acquisitions had been a key part of BrightSpring’s growth strategy before it went public and it will continue to be a focus in both the near and long term, company leaders said during a recent earnings call. Moving forward, BrightSpring’s leadership said it plans to develop its core service lines, which include home health, personal care and hospice, while seeking out new markets for strategic acquisitions.
“We look forward to more opportunities for community and patient impact that result from partnering with strong local companies such as these,” Rousseau said in a statement.
BrightSpring went public on Jan. 2, 2024. It is owned by KKR Group, a private equity investment firm, and Walgreens Boots Alliance.
