Choice Health at Home Acquires Accentra

Choice Health at Home will acquire Accentra Home Health and Hospice, headquartered in Oklahoma City.

The transaction will extend Choice’s Oklahoma footprint to cover about 90% of the state, including urban and rural communities, the company indicated. Choice is backed by the private equity firms Coltala Holdings and Trive Capital and also serves patients in Kansas, Arizona, Colorado, Utah and Nevada.

Financial terms of the acquisition were undisclosed.

“This will improve the lives of our nurses, there will be less travel time and more density of patients in the metro areas,” Choice Health at Home CEO and Founder David Jackson told Hospice News’ sister site Home Health Care News. “But also, it gives us the license numbers in the state to really be able to reach out and touch people in the rural areas as well. So, from a strategic planning perspective, we want to cover the Southwest, with Oklahoma included. Within that, we’re really intent on providing care in rural and urban settings, and this gives us the opportunity to do so.”

Choice Health at Home has completed nearly 50 deals since its founding, and 20 since Coltala and Trive recapitalized the company in 2021. Choice provides home health care, hospice, home care and rehab services across its footprint.

Accentra provides care for an approximate total of 500 home health and hospice patients. In time, it will rebrand as Choice Health at Home.

“Joining forces with Choice Health at Home marks a pivotal chapter in our journey to redefine home health care in Oklahoma,” Accentra CEO Trent Smith said in a statement. “Since founding Accentra, we’ve led the company through transformative industry changes – from PDGM to the unprecedented challenges of COVID-19. … This merger is not merely a growth opportunity – it’s a testament to our unwavering commitment to providing every Oklahoman with exceptional, cutting-edge health care right at their doorstep.”

In addition to the acquisition, Choice has also secured $260 million in new leveraged capital to reinforce its effort to grow across the Southwest, according to Jackson.

Within that $260 million, Choice established a $190 million senior credit facility with Oxford Finance LLC, AB Private Credit Investors and Maranon Capital, in addition to a $70 million subordinated credit agreement with Athyrium Capital Management.

The infusion of capital will help fuel further acquisitions, with an emphasis on home health assets in 2025.

“I think 2025 is going to be a really exciting year from an M&A perspective, and we’ve put ourselves in a good position to execute,” Jackson said. “I think good financial stewardship is an imperative for any health care business, and this was a way to put ourselves in position to take advantage of the acquisitions, but then also maintain our leverage at a point where really smooth operations can be executed on.”