Liberty Lake-based Family Home Care Corp. announced Tuesday that its home health and hospice care services have been acquired by Gentiva Health Services, Inc., a nationwide health and hospice services provider.
Without disclosing terms, Gentiva is taking over all Medicare-supported home health and hospice businesses of Family Home Care.
The private-pay home care services provided by Family Home Care will continue, as that part of the local company was not sold, said Ryan Fix, the company's CEO.
Family Home Care was founded in 1966 and had grown to more than 500 staff workers and aides.
As of Friday when the deal consummated, about 290 of those in the health care and hospice groups will remain with Gentiva. The other 200 will continue working for Family Home Care, Fix said.
The elimination of 10 positions stems from reductions in some managerial jobs, he said.
Gentiva is one of the largest home health care operators in the United States and is traded publicly.
The transaction will be funded from Gentiva's cash reserves and is not expected to have a material impact on the company's results.
In 2001 Michael Nowling, formerly head of the Heart Institute of Spokane, bought Family Home Care from Empire Health Services. Nowling will coninue as owner of Family Home Care.