CHEMED Business Summary

Chemed Corporation (NYSE: CHE) operates as a diversified holding company generating revenue through two primary service-based segments: VITAS Healthcare and Roto-Rooter. VITAS, the nation’s largest provider of end-of-life care, derives over 95% of its revenue from Medicare and Medicaid per-diem payments for hospice and palliative services. Roto-Rooter operates as the leading commercial and residential plumbing, drain cleaning, and water restoration provider in North America, generating fees through a network of company-owned branches and independent franchises. For the full year 2025, Chemed reported consolidated revenues of approximately $2.53 billion, maintaining a debt-free balance sheet. In the hospice sector, VITAS competes with national players such as Amedisys (Optum), Gentiva, and AccentCare, holding a dominant 8% share of a highly fragmented market. Roto-Rooter maintains its market leadership against direct competitors like Rooter-Man, Benjamin Franklin Plumbing, and Mr. Rooter by leveraging 24/7 emergency response capabilities and extensive geographic scale. Chemed was founded in 1970 as a spin-off from W.R. Grace & Co. by the late Edward L. Hutton, whose family remains represented in leadership. The current executive team is led by Kevin J. McNamara, who has served as President and CEO since 1994 and 2001, respectively, bringing over four decades of tenure at the company. Key leadership includes Michael D. Witzeman, who was appointed Chief Financial Officer following the retirement of long-time CFO David Williams, and Joel Wherley, who was elevated to President and CEO of VITAS Healthcare in 2025. Spencer S. Lee serves as Executive Vice President of Chemed and CEO of Roto-Rooter, overseeing the segment's expansion into commercial markets. The company is governed by a board chaired by George J. Walsh III and maintains a high degree of institutional backing, with major stakeholders including The Vanguard Group (12.5%), BlackRock (10.5%), and State Street Corporation (5.2%).