Care Advantage Buys Care Perfections Health Services
Care Advantage has acquired Care Perfections Health Services LLC, marking the 19th acquisition Care Advantage has completed since 2018. Financial terms of the deal were not disclosed. Care Perfections has locations in Manassas and Warrenton, Virginia. It is a nurse-owned company providing patients, clients and their families with care in their homes. Care Advantage has 38 locations throughout Virginia, Maryland, Delaware, Washington, D.C. and North Carolina. According to data captured from the LevinPro HC database, this marks the 107th Home Health & Hospice (HH&H) deal of 2022. This compares with 154 HH&H transactions reported between January 1, 2021, and December 20,... Read More »
Revelstoke’s The Care Team Acquires 1st Care Home Health and Care Hospice
The Care Team (TCT), a portfolio company of healthcare private equity firm Revelstoke Capital Partners, announced on December 14 that it completed the acquisition of 1st Care Home Health and Care Hospice. This transaction marks TCT’s fourth acquisition since partnering with Revelstoke in October 2019. Winston & Strawn LLP acted as legal counsel to TCT. Select members of the 1st Care leadership team will continue in management roles with TCT. Terms of the deal were not disclosed. 1st Care Home Health, founded in 2012, and Care Hospice, founded in 2016, provide home health and hospice services to patients in the greater Indianapolis area and surrounding counties. They are based in... Read More »
Reliable Medical Acquires DME Provider Orbit Medical
Reliable Medical, a portfolio company of Seven Hills Capital since November 2018, announced its acquisition of Orbit Medical. As part of the transaction, Seven Hills Capital and its management have re-invested into Reliable Medical to support the Orbit partnership and fund future growth through new locations and partnerships. Orbit Medical is one of the Midwest’s largest durable medical equipment (DME) providers serving more than 30,000 patients annually, operating in Illinois, Michigan and Wisconsin. The company specializes in power mobility, complex rehab, home respiratory, orthotic devices, general DME and pain management supplies. Reliable Medical provides complex rehab technology,... Read More »
Home Health Valuations Steady Despite Crushing Labor Costs: An Interview With Al Veach & Jason Harrison of Agenda Health
Deal activity in the Home Health & Hospice (HH&H) space has slowed dramatically over the course of the year. The break-neck pace set during the first quarter of 2022, when 32 HH&H transactions were announced, didn’t last. During the fourth quarter, HH&H deals are barely trickling in. There have been just 15 deals announced during this quarter as of December 5th, a 62% decrease from Q4’s total in the previous year, when there were 39 deals announced. We will see where we end up on January 1, but a decline seems likely. Despite the slow market, M&A advisors are optimistic. We spoke with Al Veach and Jason Harrison of Agenda Health about their outlook on the home health... Read More »