BrightSpring Health (BTSG) announced it has entered into a definitive agreement to divest its Community Living business, namely ResCare Community Living, to Sevita for $835M in cash consideration, subject to customary adjustments. The transaction is expected to close in 2025, pursuant to regulatory approvals and typical closing conditions. Following the divestiture, BrightSpring’s Provider Services will be comprised of Home Health and Hospice, Personal Care, Rehabilitation Services, and Primary Care. The company expects to realize additional operational efficiencies across the BrightSpring platform after the divestiture, with a more synergistic portfolio of service offerings overall. The transaction is expected to be accretive to both company and provider services revenue growth and adjusted EBITDA growth.
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