Strange Tony,
What would you think if a former Medicare Chief was in the lineage of both sides of the Gentiva Hospice - Heartland Hospice deal? One has to go back to 2009 when Gail Wilensky, Ph.D. was on the board of directors of both Gentiva and ManorCare, a former parent corporation for Heartland Hospice.
Gentiva is buying Heartland for $710 million from Promedica Senior Care (formerly HCR ManorCare). The Carlyle Group bought ManorCare. It later ran ManorCare into the ground.
Gentiva had its own history of buyouts and corporate combinations, Family Home, VistaCare, Odyssey, Gentiva Health Services, Kindred Healthcare, Kindred at Home and back to Gentiva. The company has been majority owned by financial rapscallions since 2018.
Let's hope current owners Clayton, Dubilier and Rice don't crash us like Carlyle did to ManorCare. My fellow hospice workers are dinged up from all the cuts on the people side of hospice delivery. One wheel is off and several more are wobbling mightily.
I wonder how much additional debt Gentiva will take on to buyout Heartland. How much higher will interest expenses rise and where will CDR look to cut to pay for those increased financing costs? The pinheads in Atlanta won't tell us. Maybe Moody's will in their Charlotte Buyer rating update.
Anonymous
Hospice Chaplain in Michigan said:
ReplyDelete1. Benefits are horrible! 2. Company is selective on what education they will pay. 3. Leadership is lacking! 4. They will not cover vehicles repair costs. 5. You have to have a minimum of 1200 miles per month to get a company car. Then you have to pay for it. 6. They expect their staff to do 60 hours of work in a 40 hr work week. 7. Staff burnout is high. 8. Company is owned by CD&R and investment firm. It’s all about $$$$$. 9. They pay only .46 per mile while government rate is .55 per mile. 10. Use to be a big family, Now it’s a corporate nightmare.
Advice to Management
1. Help your staff with leadership. 2. Give your staff the tools they need to do there jobs. 3. Fight for your team.
Hospice LVN in California said:
ReplyDeleteUsed to be a great company until they became big corporate. Don’t care about the patients or employees just want there numbers met. Penny pinching at every corner.
Patient Care Coordinator from Florida said:
ReplyDeletePay is sad Culture is vindictive Management is horrible NO opportunity for growth regardless of what they say
Stop being greedy, snotty and quit playing favorites. TAKE A LOOK AT ALL THE GOOD EMPLOYEES YOU LOST, and figure out why....NOT EVERYONE IS REPLACABLE - remember that.