Irvine-based nursing home operator Sun Healthcare Group Inc. made another move in an ongoing diversification by acquiring a Massachusetts hospice company.
Sun said Thursday it bought Allegiance Hospice Group Inc., a privately held company in Lowell, Mass., with some 300 hospice patients in New England.
Terms of the buy weren’t disclosed.
Sun said it expects the deal to increase its yearly hospice revenue by 70% to $43 million.
In all, Sun has projected 2009 revenue of $1.9 billion, most from some 200 nursing homes across the country.
The company also runs Sun short-term rehabilitation centers and has a medical staffing arm.
Sun’s hospice arm serves terminally ill patients in the final months of their lives.
Last year, the company spent $7.7 million for Holisticare Hospice of New Jersey.
