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Chemed Corporation

Chemed Corporation is an American home health care services company based in Wilmington.1

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Last updated Oct 21, 2026.

Overview

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  • TickerCHE on NYSE1
  • IndustryServices-Home Health Care Services1
  • HeadquartersWilmington1
  • Websitewww.chemed.com
  • Legal formDelaware corporation1
  • Incorporated inDE4
  • Business addressSuite 2600, 255 E Fifth St, Cincinnati, Oh 452024
  • Filer categoryLarge accelerated filer4
  • LEI54930020031IDJT2IM793
  • StatusActive3
  • LEI statusLapsed (not renewed)3
  • Registered addressC/O Corporation Service Company, 19808 Wilmington, United States3
  • Registered withDivision of Corporations, Department of State, 7480123

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Chemed Corporation (the “Company” or “Chemed”) was incorporated in Delaware in 1970 as a subsidiary of W.R. Grace & Co. and succeeded to the business of W.R. Grace & Co.’s Special Products Group as of April 30, 1971 and remained a subsidiary of W.R. Grace & Co. until March 10, 1982.6 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

13.4%Operating margin7
10.5%Net margin7
65.3%Revenue growth, 20257
27.1%Return on equity7
$325.5MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Segment Vitas brought in 64% of the revenue Chemed Corporation broke down this way in fiscal 2025.

  1. Segment Vitas$1.6B764%up 6% from 2024
  2. Segment Roto Rooter$899.9M736%down 0% from 2024
Business segments by year
Business segments202320242025
Segment Vitas$1.3B$1.5B$1.6B
Segment Roto Rooter$949.4M$900.3M$899.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue67¢$1.7B
  • Selling, general and admin16¢$417.2M
  • Other costs2¢$48.5M
  • Interest0¢$1.8M
  • Income tax4¢$90.5M
  • Profit10¢$265.2M

Out of $2.5B in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending12¢$62.8M
  • Dividends paid6¢$31.7M
  • Share buybacks82¢$431.5M

Out of $388.3M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.7

Financial statements

Revenue8910117$2.5B in 2025+97% since 2019
0$1.0B$2.0B$3.0B2019: $1.3B$1.3B20192020: $1.3B$1.3B2020+4%2021: $1.3B$1.3B2021−6%2022: $1.2B$1.2B2022−5%2023: $1.3B$1.3B2023+9%2024: $1.5B$1.5B2024+16%2025: $2.5B$2.5B2025+65%
Operating income8910117$338.2M in 2025+31% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $257.4M$257.4M20192020: $389.7M$389.7M2020+51%2021: $343.0M$343.0M2021−12%2022: $343.5M$343.5M2022+0%2023: $340.6M$340.6M2023−1%2024: $366.5M$366.5M2024+8%2025: $338.2M$338.2M2025−8%
Net income8910117$265.2M in 2025+21% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $219.9M$219.9M20192020: $319.5M$319.5M2020+45%2021: $268.6M$268.6M2021−16%2022: $249.6M$249.6M2022−7%2023: $272.5M$272.5M2023+9%2024: $302.0M$302.0M2024+11%2025: $265.2M$265.2M2025−12%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Service revenues and sales (Note 2)$2.5B$2.4B$2.3B
Cost of services provided and goods sold (excluding depreciation)$1.7B$1.6B$1.5B
Selling, general and administrative expenses$417.2M$424.4M$395.1M
Depreciation$54.6M$52.9M$50.8M
Amortization$10.3M$10.2M$10.1M
Other operating expenses (Note 20)$2.9M$446.0K$2.3M
Total costs and expenses$2.2B$2.1B$1.9B
Income from operations$338.2M$366.5M$340.6M
Interest expense-$1.8M-$1.8M-$3.1M
Other income - net (Note 10)$19.3M$34.8M$12.9M
Income before income taxes$355.8M$399.5M$350.4M
Income taxes (Note 11)-$90.5M-$97.5M-$77.9M
Net Income$265.2M$302.0M$272.5M
Net Income$18.42$20.10$18.11
Average number of shares outstanding14.4M shares15.0M shares15.1M shares
Net Income$18.34$19.89$17.93
Average number of shares outstanding14.5M shares15.2M shares15.2M shares

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Corporate structure

Chemed Corporation sits at the top of its group. 29 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Chemed Corporation

  • Chemed Corporation Wilmington, Delaware, United States
    • Chemed RT, Inc. Subsidiary · Delaware, United States
    • Comfort Care Holdings Co. Subsidiary · Nevada, United States
    • Consolidated HVAC, Inc. Subsidiary · Ohio, United States
    • Jet Resource, Inc. Subsidiary · Delaware, United States
    • Nurotoco of Massachusetts, Inc. Subsidiary · Massachusetts, United States
    • Nurotoco of Massachusetts, Inc. II Subsidiary · Massachusetts, United States
    • Nurotoco of Massachusetts, Inc. III Subsidiary · Massachusetts, United States
    • Nurotoco of New Jersey, Inc. Subsidiary · Delaware, United States
    • Roto RT, Inc. Subsidiary · Delaware, United States
    • Roto-Rooter Canada, Ltd. Subsidiary · British Columbia, Canada
    • Roto-Rooter Corporation Subsidiary · Iowa, United States
    • Roto-Rooter Group, Inc. Subsidiary · Delaware, United States
    • Roto-Rooter Services Company Subsidiary · Iowa, United States
    • RRSC of Arizona, Inc. Subsidiary · Delaware, United States
    • VITAS Healthcare Corporation Subsidiary · Delaware, United States
    • VITAS Healthcare Corporation Midwest Subsidiary · Delaware, United States
    • VITAS Healthcare Corporation of Atlantic Subsidiary · Delaware, United States
    • VITAS Healthcare Corporation of California Subsidiary · Delaware, United States
    • VITAS Healthcare Corporation of Florida Subsidiary · Florida, United States
    • VITAS Healthcare Corporation of Georgia Subsidiary · Delaware, United States
    • VITAS Healthcare Corporation of Illinois Subsidiary · Delaware, United States
    • VITAS Healthcare Corporation of Ohio Subsidiary · Delaware, United States
    • VITAS HME Solutions, Inc. Subsidiary · Delaware, United States
    • VITAS Holdings Corporation Subsidiary · Delaware, United States
    • VITAS Hospice Management Services, LLC Subsidiary · Delaware, United States
    • and 3 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Chemed Corporation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$593.8M7 Dec 31, 2025$582.8M7 Dec 31, 2024+1.9%
Accumulated depreciation$388.1M7 Dec 31, 2025$382.0M7 Dec 31, 2024+1.6%
Property and equipment, net$205.7M7 Dec 31, 2025$200.8M7 Dec 31, 2024+2.4%
Operating-lease assets (leased space)$131.2M7 Dec 31, 2025$127.3M7 Dec 31, 2024+3.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$74.5M7 Dec 31, 2025$178.3M7 Dec 31, 2024−58.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$667.0M7 Dec 31, 2025$666.7M7 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$82.8M7 Dec 31, 2025$92.2M7 Dec 31, 2024−10.2%
Finite-lived intangibles, gross$82.2M7 Dec 31, 2025$82.2M7 Dec 31, 20240%
Accumulated amortization$69.4M7 Dec 31, 2025$59.1M7 Dec 31, 2024+17.4%
Finite-lived intangibles, net$12.8M7 Dec 31, 2025$23.0M7 Dec 31, 2024−44.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$7.5M7 Dec 31, 2025$8.2M7 Dec 31, 2024−7.9%

Properties, in its own words

The Company’s corporate offices and the headquarters for Roto-Rooter are located in Cincinnati, Ohio. Roto-Rooter has manufacturing and distribution center facilities in West Des Moines, Iowa and has 356 leased and owned office and service facilities in 34 states. VITAS, headquartered in south Florida, operates 33 Medicare provider numbers across 59 programs from 182 leased and owned facilities and 28 inpatient units in 17 states and the District of Columbia.

All “owned” property is held in fee and is subject to the security interests of the holders of our debt instruments. The leased properties have lease terms ranging from monthly to ten years. Management does not foresee any difficulty in renewing or replacing the remainder of its current leases. The Company considers all of its major operating properties to be maintained in good operating condition and to be generally adequate for present and anticipated needs.

Item 2 of the 10-K filed Feb 27, 2026.6

Leadership

Who has led Chemed Corporation, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Kevin J. McNamara2003–2025
  2. Joel L. Wherley2025–now

Chair

  1. Edward L. Hutton2003–2008

President

  1. Kevin J. McNamara2003–now

Chief financial officer

  1. Michael D. Witzeman2024–now
20052010201520202025
Board members and other officers (28)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Chemed RT, Inc. Delaware, 100%5
  • Comfort Care Holdings Co. Nevada, 100%5
  • Consolidated HVAC, Inc. Ohio, 100% by Roto-Rooter Services Company5
  • Jet Resource, Inc. Delaware, 100%5
  • Nurotoco of Massachusetts, Inc. Massachusetts, 100% by Roto-Rooter Services Company5
  • Nurotoco of Massachusetts, Inc. II Massachusetts, 100% by Roto-Rooter Services Company5
  • Nurotoco of Massachusetts, Inc. III Massachusetts, 100% by Roto-Rooter Services Company5
  • Nurotoco of New Jersey, Inc. Delaware, 80% by Roto-Rooter Services Company5
  • RRSC of Arizona, Inc. Delaware, 75% owned by Roto-Rooter Services Company5
  • Roto RT, Inc. Delaware, 100% by Roto-Rooter Group, Inc.5
  • Roto-Rooter Canada, Ltd. British Columbia, 100% by Roto-Rooter Services Company5
  • Roto-Rooter Corporation Iowa, 100% by Roto-Rooter Group, Inc.5
  • Roto-Rooter Group, Inc. Delaware, 100%5
  • Roto-Rooter Services Company Iowa, 100% by Roto-Rooter Group, Inc.5
  • VITAS HME Solutions, Inc. Delaware, 100% by VITAS Hospice Services, L.L.C.5
  • VITAS Healthcare Corporation Delaware, 100% by Comfort Care Holdings Co.5
  • VITAS Healthcare Corporation Midwest Delaware, 100% by VITAS Hospice Services, L.L.C.5
  • VITAS Healthcare Corporation of Atlantic Delaware, 100% by VITAS Hospice Services, L.L.C.5
  • VITAS Healthcare Corporation of California Delaware, 100% by VITAS Hospice Services, L.L.C.5
  • VITAS Healthcare Corporation of Florida Florida, 100% by VITAS Hospice Services, L.L.C.5
  • VITAS Healthcare Corporation of Georgia Delaware, 100% by VITAS Hospice Services, L.L.C.5
  • VITAS Healthcare Corporation of Illinois Delaware, 100% by VITAS Hospice Services, L.L.C.5
  • VITAS Healthcare Corporation of Ohio Delaware, 100% by VITAS Hospice Services, L.L.C.5
  • VITAS Holdings Corporation Delaware, 100% by VITAS Hospice Services, L.L.C.5
All 28 listed subsidiaries
  • VITAS Hospice Management Services, LLC Delaware, 100% by VITAS Hospice Services, LLC5
  • VITAS Hospice Services, L.L.C. Delaware, 100% by VITAS Healthcare Corporation5
  • VITAS RT, Inc. Delaware, 100% by VITAS Hospice Services, L.L.C.5
  • VITAS Solutions, Inc. Delaware, 100% by VITAS Hospice Services, L.L.C.5

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • ROTO-ROOTER INCJul 15, 2003 to Jun 16, 20044

Timeline

  1. Jul 28, 20268-K Results of operations46
  2. May 19, 20268-K Shareholder vote47
  3. Apr 23, 20268-K Results of operations48
  4. Apr 13, 20268-K Entered a material agreement; New debt or obligation49
  5. Feb 25, 20268-K Results of operations50
  6. Oct 28, 20258-K Results of operations51
  7. Aug 27, 2025New chief executive Joel L. Wherley becomes CEO17
  8. Jul 29, 20258-K Results of operations; Executive or director change52
  9. Jun 27, 20258-K Regulation FD disclosure53
  10. May 20, 20258-K Shareholder vote54
  11. Apr 23, 20258-K Results of operations55
  12. Feb 26, 20258-K Results of operations56
  13. Oct 29, 20248-K Results of operations57
  14. Dec 30, 2003New chief executive Kevin J. McNamara becomes CEO18
  15. Apr 2, 1970Founded Chemed Corporation is founded3

Calendar

Coming up

  1. Oct 27, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $4.94 a share, on Oct 28, 2025.58

When it reported results

  1. Jul 28, 2026Reported quarterly or annual results46
  2. Apr 23, 2026Reported quarterly or annual results48
  3. Feb 25, 2026Reported quarterly or annual results50
  4. Oct 28, 2025Reported quarterly or annual results51
  5. Jul 29, 2025Reported quarterly or annual results52
  6. Apr 23, 2025Reported quarterly or annual results55
  7. Feb 26, 2025Reported quarterly or annual results56
  8. Oct 29, 2024Reported quarterly or annual results57

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

355 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 36 major events, 227 insider forms, 10 large holders, 61 other. The latest 20:

  1. Oct 1, 20264 EDGAR
  2. Sep 30, 20264 EDGAR
  3. Sep 29, 20264 EDGAR
  4. Sep 28, 2026144 EDGAR
  5. Sep 24, 2026144 EDGAR
  6. Sep 21, 20264 EDGAR
  7. Aug 24, 20264 EDGAR
  8. Aug 24, 20264 EDGAR
  9. Aug 21, 2026144 EDGAR
  10. Aug 12, 2026SCHEDULE 13G EDGAR
  11. Aug 10, 20264 EDGAR
  12. Aug 6, 20264 EDGAR
  13. Aug 4, 20264 EDGAR
  14. Aug 3, 2026144 EDGAR
  15. Aug 3, 20264 EDGAR
  16. Jul 31, 2026144 EDGAR
  17. Jul 31, 202610-Q EDGAR
  18. Jul 28, 20268-K EDGAR
  19. Jun 24, 202611-K EDGAR
  20. Jun 10, 20264 EDGAR

The 355 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

94 open-market trades by officers, directors and large owners since October 2021: 5 buys and 89 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 28, 2026MCNAMARA KEVIN Jpresident and CEOSale2,000$513.45$1.0MForm 4
Sep 18, 2026MCNAMARA KEVIN Jpresident and CEOSale2,000$501.40$1.0MForm 4
Aug 21, 2026LEE SPENCER Sexecutive vice presidentSale1,000$541.04$541.0KForm 4
Aug 21, 2026MCNAMARA KEVIN Jpresident and CEOSale2,000$541.16$1.1MForm 4
Aug 3, 2026MCNAMARA KEVIN Jpresident and CEOSale2,000$539.51$1.1MForm 4
Jul 31, 2026GRACE PATRICK PDirectorSale190$532.00$101.1KForm 4
Jun 9, 2026LINDELL ANDREA RDirectorSale1,347$447.33$602.6KForm 4
May 29, 2026WALSH GEORGE J IIIDirectorSale500$437.83$218.9KForm 4
May 8, 2026GRACE PATRICK PDirectorSale60$425.78$25.5KForm 4
May 1, 2026MCNAMARA KEVIN Jpresident and CEOSale2,000$421.13$842.3KForm 4
Mar 27, 2026MCNAMARA KEVIN Jpresident and CEOSale1,500$369.37$554.1KForm 4
Mar 12, 2026MCNAMARA KEVIN Jpresident and CEOSale2,000$403.18$806.4KForm 4
Nov 24, 2025MCNAMARA KEVIN Jpresident and CEOSale2,000$437.55$875.1KForm 4
Sep 26, 2025MCNAMARA KEVIN Jpresident and CEOSale3,000$461.28$1.4MForm 4
Sep 9, 2025GRACE PATRICK PDirectorSale150$463.39$69.5KForm 4
Aug 5, 2025MCNAMARA KEVIN Jpresident and CEOSale2,000$428.55$857.1KForm 4
Aug 4, 2025WALSH GEORGE J IIIDirectorBuy200$417.10$83.4KForm 4
Aug 4, 2025Westfall Nicholas MichaelExecutive Vice PresidentSale10,012$421.91$4.2MForm 4
May 16, 2025LEE SPENCER Sexecutive vice presidentSale1,500$577.99$867.0KForm 4
May 7, 2025LEE SPENCER Sexecutive vice presidentSale1,500$577.86$866.8KForm 4

All 94 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.1,484,282$691.3M0.0%+147,592
Aqr Capital Management LLC972,474$446.2M0.2%+556,862
Vanguard Portfolio Management LLC787,068$366.6M0.0%−28,631
Vanguard Capital Management LLC604,420$281.5M0.0%−31,650
State Street Corp444,716$207.1M0.0%−17,454
Geode Capital Management, LLC413,942$192.8M0.0%+2,896
Jpmorgan Chase & Co403,395$185.8M0.0%−97,592
Boston Partners280,684$130.7M0.1%New
Epoch Investment Partners, Inc.267,290$124.5M0.7%+17,167
Dimensional Fund Advisors LP260,561$121.3M0.0%+12,711
TD Asset Management Inc256,263$119.4M0.1%−23,438
River Road Asset Management, LLC237,927$110.8M1.2%+166,159
Morgan Stanley232,302$108.2M0.0%+5,253
Fuller & Thaler Asset Management, Inc.219,988$102.5M0.3%+92,595
First Trust Advisors LP219,788$102.4M0.1%−16,604
Boston Trust Walden Corp201,275$93.7M0.7%−3,922
Northern Trust Corp199,148$92.8M0.0%+24,482
Goldman Sachs Group Inc183,938$85.7M0.0%+45,939
Charles Schwab Investment Management Inc170,358$79.3M0.0%+6,354
Arrowstreet Capital, Limited Partnership166,149$77.4M0.0%+13,680
Norges Bank163,404$76.1M0.0%New
Invesco Ltd.150,368$70.0M0.0%+11,212
Copeland Capital Management, LLC145,007$67.5M1.4%−2,950
Victory Capital Management Inc119,717$55.8M0.0%−9,304
UBS Group AG106,497$49.6M0.0%−35,400

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

8 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jun 24, 2025Lisa C. McClainRepublican, HouseBuy$1,001 - $15,000−35.3%Report
Mar 6, 2025Byron DonaldsRepublican, HouseSale$1,001 - $15,000+48.6%Report
Mar 6, 2025Byron DonaldsRepublican, HouseSale$1,001 - $15,000+48.6%Report
Jan 31, 2023Daniel S. GoldmanDemocratic, HouseSale$1,001 - $15,000+88.4%Report
Sep 29, 2021Tommy TubervilleRepublican, SenateSale$1,001 - $15,000+68.5%Report
Mar 29, 2021Tommy TubervilleRepublican, SenateBuy$1,001 - $15,000−86.8%Report
Oct 13, 2020Greg Gianforte, HousePartial sale$1,001 - $15,000+116.6%Report
Jun 24, 2019Donna Shalala, HouseSale$1,001 - $15,000+118.3%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Chemed Corporation is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCHEMED CORP2
  • CIK0000019584
  • Employer ID (EIN)31-07917466
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; a shell company6
  • Incorporated inDelaware6
  • Fiscal year endsDecember 312
  • Industry code (SIC)8082 Services-Home Health Care Services2
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance2
  • Business addressSuite 2600, 255 E Fifth St, Cincinnati, OH 452022
  • Mailing addressSuite 2600, 255 E Fifth Street, Cincinnati, OH 45202-47262
  • Phone(513)762-66902
  • Shares outstanding13,069,961 as of Jun 30, 202612
  • Public float$7.0B as of Jun 30, 20256
  • AuditorPricewaterhouseCoopers LLP, Cincinnati, Ohio PCAOB ID 238; it also attests to the company’s internal control over financial reporting6
  • On EDGAR sinceFeb 10, 19942
  • Filings1,880 in all: 4 (1,143), 8-K (204), 10-Q (98), SC 13G/A (71), 144 (41), DEF 14A (32), 10-K (29), 4/A (26)2
    All 52 form types

    11-K (25), 5 (24), SC 13G (21), SC 13D/A (20), UPLOAD (18), 3 (16), S-8 (12), DEFA14A (11), CORRESP (9), PRE 14A (6), 8-K/A (5), DFAN14A (5), SC 13E3/A (5), SC 14D1/A (5), 10-K405 (4), 10-K/A (3), 10-Q/A (3), 424B7 (3), ARS (3), S-3 (3), SCHEDULE 13G (3), 424B3 (2), DEFC14A (2), PREC14A (2), PRRN14A (2), RW (2), S-4 (2), SC 13D (2), SC 13E4/A (2), T-3/A (2), 11-K/A (1), 3/A (1), 8-A12B (1), DEFR14A (1), NO ACT (1), NT 10-K (1), PX14A6G (1), S-3ASR (1), S-8 POS (1), SC 13E3 (1), SC 13E4 (1), SC 14D1 (1), SCHEDULE 13G/A (1), T-3 (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2026
    Quarterly report (10-Q) Jul 31, 2026
    Proxy statement (DEF 14A) Apr 6, 2026
    Latest 8-K (8-K) Jul 28, 2026

Securities registered for trading

ClassSymbolExchange
Capital Stock – Par Value $1 Per ShareCHENew York Stock Exchange

From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).6

Risk factors and legal proceedings

The risks Chemed Corporation names in Item 1A of its 10-K filed Feb 27, 2026: 25 risks under these headings, as written.6

  • We face intense competition from numerous, fragmented competitors. If we do not compete effectively, our business may suffer.
  • Our operations are subject to numerous laws and regulations, exposing us to potential claims and compliance costs that could adversely affect our business.
  • Roto-Rooter’s loss of key management personnel or its inability to hire and retain skilled employees could adversely affect its business, financial condition and results of operations.
  • Cybersecurity
  • Roto-Rooter’s success is highly dependent on its brand reputation.
  • VITAS is highly dependent on payments from Medicare and Medicaid. If there are changes in the rate or methods governing these payments, VITAS’ net patient service revenue and profits could be materially affected.
  • 15% to 20% of VITAS’ days of care are provided to patients who reside in nursing homes. Changes in the laws and regulations regarding payments for hospice services and “room and board” provided to VITAS’ hospice patients residing in nursing homes could reduce its net patient service revenue and profitability.
  • If VITAS is unable to maintain relationships with existing patient referral sources or to establish new referral sources, VITAS’ growth and profitability could be adversely affected.
  • VITAS operates in an industry that is subject to extensive government regulation and claims reviews, and changes in law and regulatory interpretations could reduce its net patient service revenue and profitability and adversely affect its financial condition and results of operations.
  • Federal and state legislative and regulatory initiatives could require VITAS to expend substantial sums on acquiring, implementing and supporting new information systems, which could negatively impact its profitability and cash flows.
  • VITAS’ growth strategies may not be successful, which could adversely affect its business.
  • VITAS’ loss of key management personnel or its inability to hire and retain skilled employees could adversely affect its business, financial condition and results of operations.
The other 14 risks
  • A nationwide shortage of qualified nurses and aides could adversely affect VITAS’ profitability, growth and ability to continue to provide quality, responsive hospice services to its patients as nursing and health aides’ wages and benefits increase.
  • VITAS may not be able to compete successfully against other hospice providers, and competitive pressures may limit its ability to maintain or increase its market position, which could adversely affect its profitability, financial condition and cash flows.
  • Changes in rates or methods of payment for VITAS’ services could adversely affect its revenues and profits.
  • Liability claims may have an adverse effect on VITAS, and its insurance coverage may be inadequate.
  • VITAS’ success is highly dependent on its brand reputation.
  • VITAS’ headquarters and a significant portion of its operations are in Florida.
  • The agreements and instruments governing borrowing capacity contain restrictions and limitations that could significantly impact our ability to operate our business and adversely affect the price of our Capital Stock.
  • We depend on our management team and the loss of their service could have a material adverse effect on our business, financial condition and results of operations.
  • Environmental and safety compliance costs and liabilities could increase our expenses and adversely affect our financial condition.
  • We are subject to certain anti-takeover statutes that might make it more difficult to effect a change in control of the Company.
  • An adverse ruling against us in certain litigation could have an adverse effect on our financial condition and results of operations.
  • We have historically incurred debt to finance the operations of the Company.
  • Issues associated with the actual or perceived effects of another epidemic, pandemic, or similar widespread public health concern, could adversely affect our businesses.
  • Significant Tariffs Could Increase Costs, Decrease Margin, and Materially Adversely Affect the Business.

Legal proceedings

The Company’s disclosure related to legal proceedings is set forth in Note 18 “Legal and Regulatory Matters” included in the Notes to the Consolidated Financial Statements included with this report, and is incorporated herein by reference.

The opening of Item 3, Legal Proceedings.6

Sources

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