Landmark Health Explores Possible Sale
McKesson Ventures portfolio company Landmark Health is considering a sale, making it possible for Landmark’s chief executive to take a leadership role with the Centers for Medicare and Medicaid Innovation.
Landmark provides home healthcare for chronically ill patients. It focuses on behavioral, social, medical, and palliative health as provided by doctors, nurses, social workers, and pharmacists. Its services are available in Portland, OR; New York City; Buffalo, NY; and in California’s Bay Area, among other locations.
Landmark is currently in talks with Barclays Capital LLC regarding the sale. The company is expected to generate about $53 million in earnings this year, up from $15 million in 2017.
Should the sale go through, Landmark CEO Adam Boehler could be in a position to head the Center for Medicare and Medicaid Innovation. Boehler would likely divest his stake in Landmark Health to avoid conflicts, as Landmark receives Medicare and Medicaid reimbursements.
Thanks to aging Baby Boomers, Landmark is benefitting from its ability to provide services to those who prefer to “age in place” rather than enter a nursing home or other assisted living situation.
The sale is not confirmed at this time, but sources told The Wall Street Journal that it is a very real possibility.