Service Corporation International Acquires Las Vegas-Based Palm Mortuaries

December 6, 2009
Advertisement

imageService Corporation International (NYSE: SCI), the largest provider of deathcare products and services in North America, announced today that it has acquired Palm Mortuaries of Las Vegas, Nevada. Palm Mortuaries is one of North America’s premier funeral and cemetery operations, with approximately $30 million in annual revenues and whose holdings include five funeral home and cemetery combination operations, three stand alone funeral homes, one flower shop and one monument shop. The move provides a unique opportunity for SCI to expand its previously limited presence in one of the fastest-growing retirement areas in the U.S.

“We are delighted to bring Palm Mortuaries into the SCI portfolio and welcome its talented associates to our Dignity Memorial network of funeral, cremation and cemetery service providers,” said Tom Ryan, SCI president and chief executive officer. “Palm Mortuaries’ long-standing reputation for outstanding customer service and solid operations make it a great addition to our Company.”

“Our family has served the Las Vegas community for more than 50 years and we are delighted to join a company that will continue our tradition of care for generations to come,” said Ken Knauss, Palm Mortuaries president and chief executive officer. “We have taken great pride in serving the families of Las Vegas, and I am very pleased that by uniting with SCI, we will be able to offer those families the exceptional benefits available only through the Dignity Memorial Network.”

Advertisement

Under SCI’s Dignity Memorial brand, providers offer the most comprehensive, personalized services for families, including: National Transferability, which allows for the transfer of services to another Dignity Memorial provider more than 75 miles from the original point of purchase; Bereavement Travel assistance for family and friends; access to a 24-hour Compassion Helpline and a 100 percent service guarantee.

Terms of the transaction were not disclosed, but SCI added that the purchase was funded through cash on hand and will be immediately accretive to earnings and cash flow.

About Service Corporation International

Service Corporation International (NYSE: SCI), headquartered in Houston, Texas, is North America’s largest provider of deathcare products and services. At September 30, 2009, we owned and operated 1,250 funeral homes and 364 cemeteries (of which 206 are combination locations) in 43 states, eight Canadian provinces, the District of Columbia and Puerto Rico. Through our businesses, we market the Dignity Memorial

CDFuneralNews

CDFuneralNews

ConnectingDirectors.com is the leading online daily publication for funeral professionals with a reader base of over 45,000 of the most elite and forward-thinking professionals in the profession. With ConnectingDirectors.com we have created a global community through an online platform allowing funeral professionals to Stay Current. Stay Informed and Stay Elite.
CDFuneralNews
Advertisement

You may be interested

4 Products Beating the Funeral Merchandise Quality Epidemic
Cremation
452 views
Cremation
452 views

4 Products Beating the Funeral Merchandise Quality Epidemic

Justin Crowe - November 15, 2017

Since entering the funeral industry, I have felt a taboo around talking about the topic of quality in relation to…

ASD’s Suicide Telephone Operator Patch (S.T.O.P) System Recognized With 2017 NFDA Innovation Award
Funeral Industry Press Releases
35 views
Funeral Industry Press Releases
35 views

ASD’s Suicide Telephone Operator Patch (S.T.O.P) System Recognized With 2017 NFDA Innovation Award

CDFuneralNews - November 15, 2017

Boston, MA—On Monday, October 29, ASD – Answering Service for Directors was named the winner of the National Funeral Directors…

Passare Releases Advanced Preneed Integration with Funeral Directors Life
Funeral Industry Press Releases
41 views
Funeral Industry Press Releases
41 views

Passare Releases Advanced Preneed Integration with Funeral Directors Life

CDFuneralNews - November 15, 2017

Passare, Inc. recently released an advanced integration with Funeral Directors Life Insurance Company, offering the funeral industry’s only integration between…

Comments