Charter Health Care Group, a portfolio company of Pharos Capital Group, announced a deal for two agencies in Omaha, Nebraska last week. It purchased Physmed Home Health Care and Serene Care Hospice, two sister companies, for an undisclosed sum.
Physmed Home Health Care was founded in 2003 and specializes in geriatric care, providing physical therapy, occupational therapy and speech therapy, as well as social work and dietician services plus a wide array of skilled nursing assistance. Serene Care, founded in 2013, provides comprehensive end-of-life care in the home. The company offers services such as nursing, spiritual care, bereavement, social work and other specialty care practices. Both agencies were sold by the owner, Domer Sodusta. Jake Panowicz, CEO of Physmed and Serene Care, will serve as Charter’s Vice President of Home Health and oversee nationwide operations, growth, and clinical quality initiatives for Charter’s home health divisions.
This is the first deal for Charter Health Care in the Nebraska market, according to search results in our Healthcare Deal Database. In 2020, the PE-backed agency announced two transactions. In March, the company’s first deal, Charter Health Care acquired St. Luke’s Home Hospice LLC and Arizona Select Hospice LLC from VeraCare Hospice. St. Luke’s, based in Las Vegas, and Arizona Select, based in Phoenix, provide end-of-life hospice care along with palliative care services for adult patients with life-limiting illnesses. The deal gave Charter Health Care a presence outside California in the southwestern United States.
Then in October 2020, the company bought Heartwood Hospice, a leading home health and hospice company serving the Salt Lake City metro area founded in 2014. American Healthcare Capital exclusively advised Heartwood Hospice in that sale.
Charter Health Care has a network of over 10 locations and cares for more than 3,000 patients across the Western United States. The agency was acquired by Pharos Capital Group in October 2018.
