Dive Brief:
- Allegheny Health Network has acquired majority ownership of Klingensmith Healthcare, a western Pennsylvania supplier of respiratory and home medical equipment (HME) and related services. Financial terms of the transaction were not disclosed.
- AHN has assumed a controlling interest in Klingensmith, with a minority ownership stake taken by the Johns Hopkins Home Care Group, which brings to the partnership more than 30 years of experience in providing home medical equipment and complex clinical respiratory services to patients.
- In early November, AHN also announced a joint venture with Celtic Healthcare to create the region's second largest provider of home health and hospice services.
Dive Insight:
The acquisition makes AMH a home health powerhouse in the mid-Atlantic, as the company already offers a broad range of inpatient and outpatient programs.
According to Paul, the acquisition is a big part of the company's strategy is to build a "first-in-class, fully-integrated set of high-quality, efficient and lower-cost home-based services."
"With Celtic Healthcare and now Klingensmith, we have embraced innovative and highly successful leaders in their respective industries to make that vision a reality," said Paul.
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