CHEMED CORP acquired 2018 cohort: four former Roto-Rooter franchisees + one VITAS Florida hospice for $53.2 million (Roto-Rooter $42.2M; VITAS Florida $11.0M), a transaction completed in January 2018, structured as all cash. The deal was a Asset purchases (franchise / hospice tuck-ins).
2018 cohort: four former Roto-Rooter franchisees + one VITAS Florida hospice operates in Roto-Rooter and VITAS Healthcare, is based in United States (Roto-Rooter franchise territories); Florida (VITAS hospice). During 2018 Chemed completed four business combinations of former franchisees within the Roto-Rooter segment for $42.2 million in cash to increase market penetration, and the VITAS segment completed one business combination in Florida for $11.0 million to increase market penetration. Individual target names and exact close dates were not separately disclosed; the date shown is a year placeholder (the deals occurred across calendar 2018).
"to increase our market penetration."
Operational efficiencies from consolidating stand-alone franchises into Roto-Rooter's nationwide branch network. Roto-Rooter Services Company / VITAS Healthcare Corporation
During 2018, we completed four business combinations of former franchisees within the Roto-Rooter segment for $42.2 million in cash to increase our market penetration. The VITAS segment completed one business combination in Florida for $11.0 million to increase our market penetration.Chemed FY2020 10-K, Acquisitions note
Advisory firms were not disclosed for this transaction.