One of Utah’s most recognized business organizations is broadening its horizons and widening its portfolio of commercial holdings.
The Larry H. Miller Group of Companies announced Monday the acquisition of Advanced Health Care Corp., a transitional care provider specializing in short-term nursing, rehabilitation, home health and hospice services. Terms of the transaction were not disclosed.
Founded in Idaho in 2001, the company employs approximately 3,500 people with operations 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 corporation’s established collection of automotive dealerships, movie theaters, real estate investments and developments, as well as vehicle finance and insurance services, according to LHM Group CEO Steve Starks.
“We’ve actually been slowly diversifying our portfolio and companies over the last few years,” he said. “We got to know the Advanced Health Care team (and) was really impressed by that business model and how they operated those skilled nursing facilities. Their geographical footprint matched ours and our automotive group. Over the years, it really became a strategic fit for us to acquire that business.”
He said the parent organization is focused on strengthening its portfolio with businesses that align with LHM’s values and guiding principles.
“AHC is committed to delivering value to patients in the communities they serve, which is complementary to our mission of enriching lives,” he said, adding that Advanced Health Care is a major provider of a wide range of post-surgery aftercare services.
“If somebody had a hip replacement surgery, they’ll stay in the hospital for two to three days, and then they would transition to a facility like this,” Starks explained. “They would work with rehab specialists or physical therapist and be able to get back to a point where they’re fully functional.”
Advanced Health Care also delivers expert nutritional advice and other options that deliver personalized patient care for every guest in state-of-the-art facilities that include private rooms, he added,
“AHC is a pioneer and market leader that provides high-quality, clinical and rehabilitation excellence,” said Starks. “They have created a premium environment and differentiated experience for their guests, resulting in reduced hospital readmissions and consistent five-star industry ratings. They have also leveraged their transitional care capabilities and best practices into home health and hospice services.”
“We were drawn to the LHM Group based on their values, reputation, transparency, integrity and desire to do good,” said Advanced Health Care co-founders Dave and Brett Nattress. “The AHC team is looking forward to a great future working with the Miller family and leadership team at LHM in continuing to provide exceptional care and services.”
The LHM Group employs nearly 10,000 across its corporate portfolio. Starks said the organization is making a concerted effort to expand its business interests in an effort to reach its long-range plan for sustained profitability and community engagement.
“We’ll invest in businesses and investments that align with our values and that allow us to do good in the communities that we operate businesses and be able to enrich lives,” he said. “We’ll become a more diverse organization from a business standpoint. We’re growing our real estate portfolio — there are some exciting things on the horizon there. We’re adding health care, and in the future, we’ll continue to grow within our existing industries. But then we’ll make acquisitions that are strategic in nature and make sense with our guiding principles.”
He said LHM will look different in a decade from now compared to what it has been in the past, which he called “exciting.”
“It also just represents the organization is maturing,” Starks said. “We’re able to pursue some opportunities that I don’t think Larry probably ever envisioned when he started the company 40 years ago. But it really excites the Miller family and all of us as the leadership team.”
He said despite the business challenges faced during the pandemic, the LHM Group is poised to continue its goals of being a successful corporation that supports the communities in which they are located.
“Like every business in America and every organization, (the pandemic) has caused us to have to focus on innovation and how do we grow in an intelligent way,” he said. “And how do we ensure that we’re able to weather the storms that are natural to come, whether they come to a black swan event like COVID-19 or just economic cycles that are likely to happen in the future.”
He said the organization has used the experiences of last year to learn important lessons that will help it achieve its mission over the long haul.
“We want to make sure that we’re enriching lives. We want to make sure that everybody who does business with one of our companies is having a great experience, and they’re getting, world-class value for their investment,” Starks said. ”You should expect that the Miller family is going 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, we’re here to help and here to help uplift.”
Correction: An earlier version of this story incorrectly reported that Advanced Health Care employed 2,000 people. The total is approximately 3,500 employees.