LHC

Tailwind Capital Takes Over Abode Healthcare

The Home Health & Hospice sector is experiencing strong tailwinds this year, with at least 38 transactions announced through May 25. In all of 2017, 62 deals were announced in this sector.

Seven of this year’s transactions were direct acquisitions by private equity firms, with Blue Wolf Capital and Stonehenge Partners announcing two deals each.

In May, Tailwind Capital, a New York City-based middle market private equity firm, announced its acquisition of Abode Healthcare, based in Durango, Arizona. Abode Healthcare, a portfolio company of Frazier Healthcare Partners, provides a full spectrum of patient-centric hospice and home health services in growing markets in 10 states. The company was founded in 2012 by CEO Mike McMaude.

This is Tailwind’s first home healthcare company, and it gets added to a healthcare portfolio that includes National HME, a home medical equipment company, Versa Pharm, a general pharmaceuticals company, and Lone Peak Dental Group, in Longwood, Colorado.

Although no price was disclosed, NXT Capital provided an $80 million senior credit facility to back the acquisition.

 

 

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