BrightSpring Health Services Announces Strategic Sale of Community Living Business to Sevita: Key Highlights from 2024 Financial Results and 2025 Outlook

BrightSpring Health Services, a top provider of home and community-based health services, has made a significant move. They’re selling their Community Living business, ResCare Community Living, to Sevita for $835 million in cash. This deal is expected to wrap up in 2025, pending the usual regulatory approvals.

After this divestiture, BrightSpring will focus on their Provider Services, which include Home Health, Hospice, Personal Care, and Rehabilitation Services. These areas have shown promising growth and high-quality service delivery. The company aims to enhance operational efficiency, improve service capabilities, and expand their reach in various markets.

For 50 years, Community Living has been dedicated to supporting individuals with intellectual and developmental disabilities (I/DD). The company’s leadership expressed pride in their mission and the quality services provided, thanking their team for their commitment to clients.

This transition will allow BrightSpring to target essential markets, ensuring they can continue their mission while offering a more focused service lineup. By streamlining their offerings, they expect to boost revenue growth and improve efficiency. The sale will also help reduce company debt, strengthening their financial position.

In a statement, Jon Rousseau, Chairman and CEO of BrightSpring, praised Sevita’s expertise in the I/DD sector and expressed optimism about the future of the Community Living services under their stewardship. Sevita plans to integrate the strengths of both organizations to reach and support even more individuals in need.

Financially, the Community Living business is projected to generate about $1.2 billion in revenue and $128 million in adjusted earnings in 2024. After the sale, BrightSpring expects to have around $715 million in after-tax cash, which they plan to use primarily to reduce their debt.

Looking ahead, BrightSpring has also released their preliminary financial results for 2024, indicating strong growth. They anticipate revenues between $11.2 and $11.3 billion, with adjusted earnings expected to reach around $588 million. For 2025, they project continued growth, particularly in their Pharmacy and Provider segments.

BrightSpring Health Services is focused on improving the lives of those needing specialized care. Their approach combines pharmacy, home health, and rehabilitation services, delivering support to over 400,000 individuals daily across the U.S. They aim to lead in quality metrics while providing valuable care solutions.

Similarly, Sevita has a strong track record in providing community-based care for diverse populations, emphasizing continuous improvement and quality outcomes.