• Graham Holdings Co (NYSE: GHC) subsidiary Graham Healthcare Group has acquired InTeliCare Health Services, a provider of home health services in central Florida, for an undisclosed sum.

• The agreement was finalized on December 15, 2021, marking Graham's first expansion into Florida.

• "With the baby boomer generation doubling in size and an increase in comorbidities, this is an ideal time for Graham Healthcare Group to begin serving people in the state of Florida in their own homes with high-quality post-acute and end-of-life care," said CEO David Curtis.

• InTeliCare Founder and CEO Irene Tuttle will serve in an advisory role following the deal's close. Toni Walker, InTeliCare's VP of Operations, will maintain leadership over day-to-day operations.

• Graham will integrate InTeliCare into its Residential Home Health division, a post-acute home care network serving Michigan, Illinois, and Pennsylvania.

• Residential Home Health intends to retain InTelicare's workforce. InTelicare has 80 employees serving nearly 300 patients from three offices.

• Graham held cash and equivalents of $928.0 million as of September 30, 2021.

• Price Action: GHC shares are trading lower by 2.96% at $552.71 on the last check Monday.

See more from Benzinga

• Graham Holdings' Kaplan Partners With UIT Institute For Real Estate Education

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.