Wayne, PA (Jan. 06, 2021) – McBee acted as a strategic advisor to Queen City Hospice, LLC in connection with its acquisition by Addus HomeCare Corporation (NASDAQ: ADUS).
“Queen City Hospice has the mission of providing the best end-of-life-care to patients by supporting their staff with the time and resources necessary to deliver quality care,” explained Mike Dordick, President of McBee. “As the organization has grown rapidly, we were happy to serve as their strategic advisor for their go-to-market review as they look toward continued growth.”
Queen City Hospice, which before its acquisition by Addus HomeCare was a portfolio company of the private equity firm, Stonehenge Partners, Inc., recently acquired Miracle Hospice, LLC as an affiliate, extending the hospice organization’s presence across the state of Ohio. Queen City Hospice has more than 600 clinical and staff members serving an average daily census of approximately 900 patients.
Queen City Hospice engaged McBee to complete the clinical go-to-market review. McBee reviewed the clinical documentation from a sample of Medicare patients on the current census to determine if the documentation present in the medical record supported Medicare patient eligibility requirements and if the necessary documentation was present to meet the Medicare billing regulations.
“When our organization decided to go through the sale process for Queen City, it was important for us to engage a trusted advisor familiar with hospice mergers and acquisitions to maximize our value,” explained James Vannelle, CEO of Queen City Hospice. “The insight McBee provided in the clinical review proved to be extremely thorough and detailed, positioning us for the market by painting a full picture of our documentation and compliance practices.”
Addus HomeCare signed a definitive agreement to acquire Queen City Hospice, LLC and its subsidiaries, on November 11, 2020. The acquisition was completed on December 4, 2020.
McBee is a recognized leader in providing financial, clinical and operational strategic advisory services that have addressed the unique needs of more than 3,800 providers across the healthcare industry. Since 1973, McBee has designed services to address challenges and ensure the success of healthcare organizations across the continuum of care by delivering meaningful insights, tailored strategies and sustainable results. With an average of over 20 years’ experience, McBee’s consulting professionals have extensive expertise and in-depth knowledge of healthcare regulations and policies. Health systems, physician groups, home health, hospice, long-term care, skilled nursing and other healthcare organizations across the nation look to McBee to provide comprehensive services and expert resolution of the various challenges they encounter. McBee’s unwavering dedication backed by their industry knowledge has made them one of the largest, well-regarded healthcare consulting firms in the country. McBee is located in Wayne, Pennsylvania with additional offices in Columbia, Maryland and Richmond, Virginia. Visit us at McBeeAssociates.com. Follow us on Twitter and LinkedIn.