In its second quarter as a public company, BrightSpring Health Services generated significant revenue and profit growth as it continued to build out its home health, hospice and care integration capabilities.
During the quarter ended June 30, BrightSpring generated $19.4 million in net profit, compared with roughly $4 million in the prior-year quarter, according to an earnings report. Revenues grew 26% to exceed $2.7 billion. Though BrightSpring’s pharmacy segment was responsible for the lion’s share of the company’s revenues, its provider services business, which offers home health, hospice and personal care, did approximately $616 million in sales during the second quarter, an 8% increase year-over-year.
Jon Rousseau, BrightSpring’s president and CEO, highlighted the provider services segment’s performance during a second quarter earnings call Friday morning.
“Home healthcare average daily census grew 13% year-over-year to 44,246 in the second quarter,” he said, according to a transcript. “We are outpacing the industry on volume growth and remain confident in our ability to grow daily census and hours while we continue to reduce hospitalizations and readmissions by delivering the right care management at the right time and in the right setting to patients.”
BrightSpring leverages its care integration capabilities to generate business. By using an integrated care team, the company is able to look at each step of patients’ care journeys and determine appropriate follow-up services, Rousseau explained. And BrightSpring is continuing to invest in its care integration abilities to improve patient transitions and grow its business, he said.
“I believe in the next year and 2026, we’re really going to start to see the fruits of more and more integrated care in the organization,” Rousseau noted. “It takes focus. And so we’re investing in an integrated care team to do that.”
And though BrightSpring’s home health and hospice growth is largely organic, Rousseau said, the company has not shied away from strategic opportunities. In June, it announced the acquisition of Haven Hospice, which is based in Florida. Rousseau described the deal as being an example of BrightSpring’s “M&A prowess.”
“Haven operates in a highly desirable geography, where we believe our capabilities can be implemented to improve operational metrics, financial performance and growth,” he said.
The McKnight’s Tech Daily is an e-newsletter for the audiences of McKnight’s Long-Term Care News, McKnight’s Senior Living and McKnight’s Home Care.
