On August 22, Cressey & Company announced it acquired HealthDrive from Bain Capital Double Impact Fund, L.P. The financial terms of the acquisition were not disclosed.
HealthDrive provides on-site dentistry, optometry, podiatry and audiology services to residents in more than 2,000 skilled nursing and assisted living facilities across the country. HealthDrive has more than 500 clinicians that serve more than 150,000 long-term care (LTC) residents each year across more than 3,800 facilities.
With offices in Chicago and Nashville, Cressey & Company is a private equity firm focused on investing in leading healthcare services and information technology businesses.
Bain Capital Double Impact Fund, is a $800 million private equity fund, had previously purchased HealthDrive in 2019 from private equity firm Riverside Partners.
HealthDrive’s partnership with Cressey will support and deepen HealthDrive’s longstanding focus on partnering with LTC facilities to deliver high-quality, consistent and comprehensive clinical services to LTC residents across the United States.
Harris Williams LLC served as financial advisor to HealthDrive.
According to data captured in the LevinPro HC database, this transaction marks the 55th Home Health & Hospice acquisition of the year. This marks Cressey’s second acquisition of the year; previously it purchased The InterMed Group in January 2023.
