CHEMED CORP

Chemed Corporation operates as a diversified holding company that purchases, operates, and divests subsidiaries across diverse business activities with the primary objective of maximizing shareholder value. The company was incorporated in Delaware in 1970 as a subsidiary of W.R. Grace & Co. and has since engaged in twelve significant acquisitions or divestitures of diverse business units. Chemed's day-to-day operating businesses are managed on a decentralized basis with minimal integrated functions between operating units, while the corporate office maintains responsibility for long-term strategic planning, significant capital allocation decisions, investment activities, and financial reporting.

During 2025, Chemed conducted its business operations through two primary segments: VITAS and Roto-Rooter. VITAS provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers. Over 95 percent of VITAS' revenue consists of payments from the Medicare and Medicaid programs on a per diem basis, with approximately 3 percent of revenues derived from state Medicaid programs. VITAS operates as one of the nation's largest providers of hospice services in an industry dominated primarily by small, community-based hospices, with a significant portion of operations located in Florida where Medicare patients relocating during winter months generate higher admissions and revenue.

Roto-Rooter provides plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers. The Roto-Rooter trademarks and service marks have been used and advertised since 1935 and are among the most highly recognized trademarks in the United States. Roto-Rooter operates through both company-owned locations and independent contractor franchises, with revenue and operating results significantly impacted by weather patterns across the United States. The business operates in a highly competitive, fragmented market with local and regional firms providing primary competition, though private equity businesses have recently made significant investments in home service companies including plumbing.