The Home Health and Hospice (HH&H) M&A market regained momentum in 2025 as buyers returned to smaller, strategic acquisitions amid ongoing reimbursement pressure and operator fragmentation. According to LevinPro HC data, 110 HH&H transactions were announced during the year, marking an increase from the 97 deals in 2024 and 99 in 2023, and signaling renewed confidence in home-based care platforms despite a still-challenging operating environment. Agenda Health, an Austin, Texas-based M&A advisory firm specializing in healthcare, emerged as the most active advisor in the HH&H sector in 2025, according to data from LevinPro HC.
The firm advised on nine completed HH&H transactions during the year, spanning the home health, hospice and personal care/home aides specialties. Hospice accounted for the majority of that activity, with seven transactions, including one deal that combined hospice and medical home health services.
Aggregate disclosed transaction value across the nine completed HH&H deals totaled approximately $76.8 million, with an average transaction value of $8.53 million. While individual deal sizes were generally modest, the transaction volume underscores the continued role of smaller platform acquisitions and tuck-in deals in driving consolidation across the HH&H market.
Among the notable completed HH&H transactions advised by Agenda Health in 2025 were:
- Cadre Hospice’s acquisition of Inspire Hospice & Palliative Care in Atlanta, Georgia
- Stillwater Hospice of Northern Wyoming’s acquisition of Hestia Advantage in Missoula, Montana
- Creach Family Holdings’ acquisition of Freudenthal Home-Based Healthcare in St. Joseph, Missouri
- New Day Healthcare’s acquisition of Dunes Hospice in Indiana
- Uplift Hospice’s acquisition of Star of Texas Hospice in Houston, Texas
- The sale of St. Genevive Health Care Services in Shreveport, Louisiana
In addition to those completed transactions, Agenda Health also shared with the LevinPro HC team that it was involved in three more HH&H deals in 2025. Two of those transactions involved small hospice licenses in Texas, while the third involved a California-based provider operating across both medical and non-medical home care, offering services that include dementia care, hospice and companionship care.
Beyond HH&H, Agenda Health remained active across adjacent post-acute and community-based care sectors. The firm shared that it advised on 10 Behavioral Health Care transactions in 2025, including three deals involving intellectual and developmental disability care providers, six autism spectrum disorder treatment providers and one counseling services transaction.
Agenda Health’s 2025 activity highlights its growing role as a specialized advisor across home-based and behavioral health services, particularly in lower-middle-market transactions where operational scale, service diversification and regional expansion continue to drive dealmaking.
