Washington Post Co. buys homecare/hospice firm Celtic Healthcare
The Washington Post Co. said Monday that it has agreed to acquire a majority stake in Celtic Healthcare, a provider of skilled
home health-care and hospice services in the Northeastern and Mid-Atlantic regions.
The purchase price was not disclosed, but Donald E. Graham, chief executive of The Washington Post Co., said in a statement that the acquisition is “part of the Post Company’s ongoing strategy of investing in companies with demonstrated earnings potential and strong management teams attracted to our long-term investment horizon.”
Founded in 1996 in Mars, Pa., by Arnie Burchianti, a physical therapist, Celtic Healthcare has $43 million in annual revenue and serves about 2,000 patients from nine locations spanning western, central and northeastern Pennsylvania and Montgomery and Baltimore counties in Maryland. Celtic Healthcare employs proprietary technology and specialized chronic-disease management programs.
Burchianti will continue to run the business as chief executive and co-owner, The Post Co. announced. The Post will provide capital for expansion.