It seems that Irvine-based nursing home operator Sun Healthcare Group Inc. is on an acquisition spree these days. The company has made another move by acquiring a Massachusetts Hospice Company.

Last week, some insiders of Sun Healthcare Group Inc said that the company has bought Allegiance Hospice Group Inc., which is a privately held company in Lowell, with some 300 hospice patients. However, the terms and conditions of this deal have not yet been disclosed. Let us hope an update in this regard will be available very soon.

It is said that Sun will be able to increase its revenue by 70% to $43 million with this mega deal. The company has projected revenue of $1.9 billion for the year 2009 that will mostly come from around 200 nursing homes running across the country. Apart from this, the company also runs Sun short-term rehabilitation centers which are backed by highly qualified and experienced staff.

As per the reports, last year Sun spent $7.7 million for Holisticare Hospice based in New Jersey. The company’s hospice arm serves ill patients in the final months of their lives. Overall, it can be said that Sun Healthcare Group Inc. is picking up very fast in the business.

This entry was posted on Tuesday, October 6th, 2009 at 12:42 pm and is filed under Venture Capital Events, Venture Capital News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.