Transactions: Choice Secures $190M Credit Facility; Androscoggin Announces Behavioral Health Acquisition


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Selection Well being at House closes on $190 million credit score facility

Selection Well being at House has secured a $190 million credit score facility. It has additionally acquired Kindful Hospice and Amed House.

Monetary phrases of these two offers weren’t disclosed. The credit score facility was led by Oxford Finance, whereas AllianceBernstein and Maranon Capital acted as co-syndication brokers.

The Tyler, Texas-based Selection is a house well being, hospice and rehabilitation providers supplier that has made some severe development strikes of late. Along with the credit score facility, the corporate has additionally obtained backing from two PE corporations – Trive Capital and Coltala Holdings.

Selection operates dozens of places, primarily in Texas and Oklahoma, however has ambitions to increase a lot additional. The truth is, CEO David Jackson informed House Well being Care Information that the corporate finally needs to span from Louisiana to Southern California.

Kindful Hospice operates six places out of Oklahoma and Kansas. On its finish, Amed House Well being has eight places in Texas.

“I’m very pleased with this vote of confidence by Oxford Finance, AllianceBernstein and Maranon Capital,” Jackson mentioned in an announcement. “The mission of Selection is to offer a full continuum of post-acute well being care at house. This facility will enable our firm to considerably increase the scope and attain of these providers.”

Androscoggin pronounces Care & Consolation acquisition

The Maine-based Androscoggin House Healthcare + Hospice has introduced the acquisition of Care & Consolation, a house and behavioral well being care firm additionally based mostly in Maine. The deal will take impact on Feb. 1.

A mixture of the 2 organizations will present Maine residents with entry to “an expanded community {of professional} caregivers and well being care providers,” in response to a press launch saying the information.

Based in 1966, Androscoggin is a nonprofit operator that employs 500 employees throughout 9 counties in Maine. The acquisition will enable it to succeed in all 16 Maine counties, in response to the corporate.

On its finish, Care & Consolation’s footprint consists of 5 places that presently serve 13 Maine counties. Traditionally, Care & Consolation has been a for-profit supplier, however that may change as soon as the transaction is accomplished.

Androscoggin CEO Ken Albert informed HHCN sister web site Hospice Information that Care & Consolation’s robust popularity in the neighborhood, monetary efficiency and low worker turnover had been key drivers of its curiosity within the first place.

“Based mostly on our due diligence from a monetary and authorized perspective, they checked all of the bins,” Albert mentioned. “They’ve executed a very good job constructing an worker base and constructing a superb popularity right here.”

Windfall Care will get PE backing

The personal fairness firm InTandem Capital Companions has accomplished a development funding into Windfall Care. Monetary specifics weren’t disclosed.

The South Carolina-based Windfall gives all kinds of in-home care to greater than 3,000 sufferers, together with: home calls, house well being care, palliative care, telehealth providers and hospice.

“Most vital to us was discovering a associate that shares our perception in placing the wants of the affected person care first and focuses on making ready and serving to corporations execute and speed up on their development,” Johnnie Garmon, the founder and chief development officer of Windfall, mentioned in an announcement. “It’s an honor to welcome a group of buyers and operators who’ve deep expertise and success throughout the broader healthcare ecosystem.”

InTandem has a portfolio that features different senior-related corporations principally tied to oral care, in addition to Thrive, which is an at-home pediatrics care firm.

“Our funding in Windfall Care aligns completely with our technique and requirements for partnering with high-quality well being care corporations,” Todd Squilanti, managing director of InTandem Capital, mentioned.

As well as, Windfall Care has additionally named a brand new CEO in Larry Nabb. Nabb has a monitor report of working in home-based care and hospice, most lately serving as president and COO of Remita Well being.

Lakeland Regional Well being acquires stake in BayCare HomeCare

Lakeland Regional Well being has acquired a minority stake within the Florida-based BayCare House Care. The deal was efficient as of Dec. 1.

As a part of the deal, BayCare HomeCare providers will now be often called BayCare HomeCare/Lakeland Regional Well being in Polk County, Florida. The partnership was fashioned to “enhance entry to high-quality post-acute take care of Polk County sufferers,” in response to a press launch.

BayCare HomeCare gives in-home care and assist providers to 13 counties alongside Florida’s West Coast. It’s the home-based care arm of the BayCare Well being System.

“We’re excited to hitch with BayCare HomeCare in Polk County to increase and strengthen entry to post-acute care inside our group,” Danielle Drummond, the president and CEO of Lakeland Regional Well being, mentioned in an announcement. “Sufferers will tremendously profit from this association as it can enhance and streamline the transition from hospital to house well being care. By working with BayCare HomeCare for these providers, we imagine we are able to enhance care supply at a a lot quicker tempo than by pursuing on our personal.”

The 2 nonprofit organizations will work collectively to boost care coordination, affected person communications and discharge planning, all whereas lowering readmissions. BayCare has additionally participated in hospital-at-home fashions up to now.

The Care Group acquires Crossroads Hospice

The Michigan-based Care Group, a house well being and hospice supplier, lately accomplished its acquisition of the Texas-based Crossroads Hospice. Monetary phrases of the deal weren’t disclosed.

The Care Group has a footprint in Michigan, Pennsylvania and Texas, which made Crossroads an interesting goal.

“We’re thrilled to associate with the Crossroads group and increase our presence in Texas,” Jason Laing, founder and CEO of The Care Group, mentioned in an announcement. “Crossroads’ tradition, high quality of care and compliance requirements are very well-aligned with these of The Care Group, making this an thrilling mixture.”


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