Pharos Capital’s Charter Health Care Group Acquires Silver Linings Hospice Care
Pharos Capital Group, LLC has announced the acquisition by its post-acute care provider platform Charter Health Care Group of Silver Linings Hospice Care in Albuquerque, marking Charter’s first move into the New Mexico market. Financial terms were not disclosed. Pharos Capital is a physician-founded private equity firm based in Dallas and Nashville. With over $1.3 billion of private equity assets under management as of September 30, 2021, Pharos Capital invests in growing healthcare companies that aim to lower the total cost of care, improve patient outcomes and expand access to care in underserved markets. Charter Health Care is an integrated post-acute care provider offering hospice,... Read More »
Centene Corporation Sells Majority Stake in U.S. Medical Management, LLC
The managed care-giant Centene Corporation is divesting a majority share in U.S. Medical Management, LLC (USMM) to several buyers in a deal announced earlier in November. No price was disclosed for this deal, but Centene purchased USMM in 2013 for $200 million, or 0.6x that year’s expected revenue for USMM. USMM provides a continuum of in-home services including primary care, health risk assessments, home health, hospice, podiatry, radiology DME, lab and pharmacy. USMM also owns several allied health assets, which assist in the provision of home-based primary care and furthers the value and efficiency of house call medicine. USMM Accountable Care Partners (USMM ACP) launched as an... Read More »
LHC Group Previews Q3 Results
On October 18, 2021, LHC Group, Inc. provided a preview of its expected results for the third quarter which ended on September 30, 2021, as well as an update to its previously reported guidance for the year ending on December 31, 2021. Founded in 1994, LHC Group, Inc. is a national provider of in-home healthcare services and innovations for communities around the nation. The company’s 30,000 employees deliver home health, hospice, home and community-based services, and facility-based care in 35 states and the District of Columbia, reaching 60% of the U.S. population aged 65 and older. In their quarterly report preview, LHC Group reported several headwinds that they experienced during... Read More »
Levine Leichtman Capital Partners Sells Caring Brands International
Levine Leichtman Capital Partners has announced that it has sold its portfolio company Caring Brands International, Inc., a leading global franchisor of home healthcare services founded in 1966, to Wellspring Capital. Levin Leichtman Capital Partners (LLCP) is a Los Angeles-based middle-market private equity firm with a 38-year track record of investing across various targeted sectors, including franchising, business services, education and engineered products. Since its inception, LLCP has managed approximately $12.7 billion of institutional capital across 15 investment funds and has invested in over 90 portfolio companies. Currently, LLCP manages $9.0 billion of assets. Headquartered in... Read More »