Acquisitions

9 Months Ended

Sep. 30, 2023

Acquisitions [Abstract]

Acquisitions

17.    Acquisitions

On June 1, 2023 Roto-Rooter completed the acquisition of one franchise in South Carolina for $305,000 in cash. On September 26, 2023 Roto-Rooter completed the acquisition of one franchise in Georgia for $3.689 million in cash.

In 2022, VITAS purchased the hospice assets of one Florida provider for $1.24 million in cash. Roto-Rooter completed the acquisition of three franchises and the related assets in New Jersey for a total of $2.29 million in cash.

Goodwill is assessed for impairment on a yearly basis as of October 1. All goodwill recognized is deductible for tax purposes.

Shown below is movement in Goodwill (in thousands):

	VITAS		Roto-Rooter		Total
Balance at December 31, 2022	$	334,063	$	247,232	$	581,295
Business combinations		-		3,682		3,682
Balance at September 30, 2023	$	334,063	$	250,914	$	584,977