If you would like updates on the merger & acquisition market in Home Care & Hospice, please go to our “Contact Us” tab on this web-site and send us your e-mail address. We promise to keep you up-to-date.
February 17, 2010
Quote for the week…
“A life lived with integrity – even if it lacks the trappings of fame and fortune – is a shining star in whose light others may follow.” - Denis Waitley
Home Care 100: We have just returned from another great Home Care 100 conference, where there were over 400 attendees from 100 of the largest home care and hospice companies in the world. We were one of the sponsors. It is clear that the attitude toward home health mergers and acquisitions is greatly improving due to three elements coming together simultaneously.
First there seems to be a pent up demand from the larger strategic buyers. In 2009 they were forced to be conservative due to the uncertainty in the Medicare reimbursement. Although there is still uncertainty in the market, they now appear to be ready to move forward with a much more aggressive attitude.
Second, the financing for acquisitions is becoming more available, which is bringing private equity groups back into the equation.
Third, owners are seeing the possibility of the advantageous 15% capital gains tax rate expiring in 2011.
These three elements seem to be creating a perfect storm for acquisitions in 2010 & 2011.
Look for Us……
April 20 – 21 at the Southwest Regional Home Care Conference & Expo. We will be displaying our booth and also making a presentation titled “The Process of Selling a Home Health Agency” where we will explain the steps necessary to make a successful sale, including preparation, broker agreements, pricing, negotiation, the Letter of Intent, due diligence and the final purchase and sale agreements.
Healthcare bill update:
My goodness, what a difference a day makes. The election in Mass. may change everything. We wait.
NEW: Check out our new web feature, a tab on our front page titled home health index. We have indexed the stock prices of the four major public Medicare companies. We think you will find the results interesting. Over the last several years we all would have been better off investing in Home Health rather than the S&P.
Previous Quotes:
“A dollar borrowed is a dollar earned” U.S. Government
It was easy…they sunk my boat.
John F. Kennedy to a high school student who asked how he had become a war hero.
Christmas is a time when children tell Santa Claus what they want, and we pay for it. Now, with the budget deficits, we tell the government what we want, and our children pay for it. Josef Ackermann, CEO. Deutsche Bank
“Regardless of the dollar price involved, one ounce of gold would purchase a qood quality man’s suit at the conclusion of the Revolutionary War, the Civil War, the presidency of Franklin Rosevelt, and today.”
Peter A. Burshire
“You know you can’t please everyone so you’ve got to please yourself. ”
As sung by Rick Nelson on “Garden Party “ a 1972 hit song . It tells of his leaving the stage at Madison Square Garden, because he was being booed for playing his newer, country-tinged music instead of the 1950s-era rock that he had been successful with earlier.
An example of where the rubber meets the road…..
Mickey: “Your nose is broken.”
Rocky: “How does it look?”
Mickey: “Ah, it’s an improvement.”
From the original “Rocky” movie.
More previous quotations:
“The faintest ink is more powerful than the strongest memory” Ancient Chinese Proverb
“Efforts and courage are not enough without purpose and direction”…..John F. Kennedy
Damn the torpedos! Full speed ahead…..Admiral David Farragut. August 1864. Lashed to the rigging of his flagship, as he led 18 warships into a spectacular naval battle that captured Mobile Bay.
“Arnie, I’m going to loosen up my girdle and let it fly” ….. Babe Didrikson Zaharias, as told to then 16 year old Arnold Palmer, and Arnie said she did just that. “She hit it farther than I could believe.”
“Those who do not create the future they want, most endure the future they get.” – Draper L. Kaufman, Jr.
“Our favorite holding period is forever.” Warren Buffet
“If a man is offered a fact which goes against his instincts, he will scrutinize it closely, and unless the evidence is overwhelming, he will refuse to believe it. If, on the other hand, he is offered something which affords a reason for acting in accordance to his instincts, he will accept it even on the slightest evidence.” …….Bertrand Russell
“Never put off until tomorrow what you can do the day after tomorrow.” -Mark Twain
“One of the surest ways of influencing the opinion of another is to give consideration and respect to his or her opinion”…..Dale Carnegie
“Fall seven times, stand up eight”…..Japanese proverb
“The significant problems we face cannot be solved at the same level of thinking we were at when we created them.” -Albert Einstein
“On account of being a democracy and run by the people, we are the only nation in the world that has to keep a government for four years, no matter what it does.” -Will Rogers
‘Tis better to be silent and be thought a fool than to speak and remove all doubt.” - Abraham Lincoln
“A man with no enemies is a man with no character.” -Paul Newman (1925-2008)
“A huge amount of financial folly is being exposed. You only learn who has been swimming naked when the tide goes out – and what we are witnessing at some of our largest financial institutions is an ugly sight.” Warren Buffet
On the difference between gross profit and net profit: “Pretend you’re fishing. Net is all the fish in your net at the end of the year. Gross is that plus everything that got away.” -Richard Branson
Question: How do you stay level headed in a bubble? Response: I don’t. I panic. I’m given to euphoria and despair. I’m only rich because I know when I’m wrong.” .. George Soros
Almost everything I’ve done I’ve copied from someone else”—Sam Walton
If the power to do hard work is not talent, it is the best possible substitute for it.”– James A. Garfield
Timing has a lot to do with the outcome of a rain dance… George Owens