One of Utah’s most recognized business organizations is expanding its horizons and portfolio of business interests.
The Larry H. Miller group of companies announced on Monday the acquisition of Advanced Health Care Corp., a transitional care provider specializing in short-term nursing, rehabilitation, home health and palliative care services . Terms of the transaction were not disclosed.
Founded in Idaho in 2001, the company employs approximately 3,500 people and is present in eight states: Arizona, California, Colorado, Idaho, Kansas, Nevada, New Mexico and Utah.
The deal will add facilities and agencies across the West to the established collection of auto dealerships, movie theaters, real estate investments and developments, as well as vehicle finance and insurance services, according to the CEO of the LHM group, Steve Starks.
âIn fact, we have slowly diversified our portfolio and our businesses over the past few years,â he said. âWe got to know the Advanced Health Care team (and) were really impressed with this business model and the way they operated these skilled nursing facilities. Their geographic footprint matched ours and that of our automotive group. Over the years, it has really become strategic for us to acquire this business. “
He said the parent organization is focused on strengthening its portfolio with companies that align with LHM’s values ââand guiding principles.
âAHC is committed to delivering value to patients in the communities they serve, which is complementary to our mission to enrich lives,â he said, adding that Advanced Health Care is a provider. major in a wide range of postoperative follow-up services.
âIf someone has hip replacement surgery, they will stay in the hospital for two to three days and then move to a facility like this,â Starks explained. “They would work with rehabilitation specialists or a physiotherapist and be able to return to a point where they are fully functional.”
Advanced Health Care also provides expert nutritional counseling and other options that offer personalized patient care for each client in state-of-the-art facilities that include private rooms, he added,
âAHC is a pioneer and market leader in delivering high quality clinical and rehabilitative excellence,â said Starks. âThey have created a high-end environment and differentiated experience for their clients, which has resulted in reduced hospital readmissions and consistent industry five-star ratings. They also used their transitional care capabilities and best practices in home health and palliative care services. “
âWe were drawn to the LHM Group because of its values, reputation, transparency, integrity and desire to do good,â said Dave and Brett Nattress, co-founders of Advanced Health Care. “The AHC team looks forward to a bright future as they work with the Miller family and the LHM leadership team to continue to provide exceptional care and service.”
The LHM group employs nearly 10,000 people in its business portfolio. Starks said the organization is making a concerted effort to expand its business interests in an effort to achieve its long-term plan for sustained profitability and community engagement.
âWe will invest in businesses and investments that align with our values ââand that enable us to do good in the communities where we operate and enrich lives,â he said. âWe will become a more diverse organization from a business perspective. We are developing our real estate portfolio – there are some exciting things on the horizon there. We are adding healthcare, and going forward, we will continue to grow within our existing industries. But then we will make strategic and logical acquisitions with our guiding principles. “
He said LHM will be different in a decade from what he has been in the past, which he called “exciting”.
âIt also shows that the organization is maturing,â Starks said. âWe are able to seize some opportunities that Larry probably never envisioned when he started the company 40 years ago. But it really excites the Miller family and all of us as a management team. “
He said that despite the business challenges faced during the pandemic, the LHM Group is poised to pursue its goals of being a successful business that supports the communities in which they find themselves.
âLike all businesses in the United States and all organizations, (the pandemic) has forced us to focus on innovation and on how we grow intelligently,â he said. “And how do we make sure that we are able to weather storms that are natural to come, whether they come from a black swan event like COVID-19 or just business cycles that are likely to occur to the future.”
He said the organization has used the experiences of the past year to learn important lessons that will help it accomplish its mission in the long run.
âWe want to make sure that we enrich lives. We want to make sure that everyone who does business with one of our companies has a great experience and gets world class value for their investment, âsaid Starks. âYou should expect the Miller family to continue to invest in the community, that we want to be part of the solutions to some of the challenges we face. Not only are we here to stay, but we are here to help and to help uplift ourselves.
Correction: An earlier version of this story incorrectly stated that Advanced Health Care employed 2,000 people. The total is approximately 3,500 employees.