Midwest provider veers South with latest acquisition
By Elizabeth Deprey
Updated Fri December 28, 2012
INDIANAPOLIS - Home Health Depot's latest buy is a “perfect marriage” for both companies, says Nathan Feltman.
Home Health Depot in November acquired Atlanta-based Genesis Healthcare Services, which has traditionally offered products to hospice patients—something Home Health Depot hasn't done. Genesis, in turn, will add complex rehab to its offerings, building on the experience of Home Health Depot.
“Their team will help us learn more about hospice, and we'll teach them about complex rehab,” said Feltman, president of Home Health Depot. “It's a huge opportunity to grow our rehab division, which continues to be a big revenue driver for the company.”
Another key attraction: the proximity of the Atlanta-based Sheperd Center, one of the country's top rehab hospitals.
“I've always known the Shepherd Center is a world-class institution,” said Kevin Mulcrone, Genesis president, who will remain in that role. “Because of my niche, I didn't ever interface with them.”
For Feltman, the opportunity to diversify into hospice is a welcome one.
“The hospice base has grown by leaps and bounds,” he said. “It's a strong place to be going forward.”
This is the fourth acquisition this year for Home Health Depot.
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