This is the privately owned home health company's 19th acquistion since 2018.
Care Advantage, Inc., completed its acquisition of Care Perfections Health Services, LLC, Virginia, a client-focused, in-home care company, on Monday, December 19.
This makes Care Advantage's, a privately owned home health company, 19th acquisition since 2018, and its seventh since joining with Searchlight Capital Partners in 2021. The company recently also purchased Lighthouse, Healthcare, Inc., in Reston, Virginia.
Post-acute leaders should pay attention to this increasing trend of private equity companies acquiring healthcare facilities, and consider whether mergers of this type will be advantageous, weighing the pros and cons.
"Our company's passion has always been to serve our communities and offer exceptional services to our clients," Kwasi Anwomea, president and CEO of Care Perfections Health Services, said in a statement. "The vision that Care Advantage holds for our company, coupled with the operational experience, expertise and enthusiasm they bring to the table is both encouraging and exciting in equal measure."
"Knowing that we see the business through the same lens, and that we are both motivated by a passion to care for others has all the making of a successful partnership."
The acquisition of Care Perfections Health Services also extends Care Advantage's geographic reach, with the former having operations in Manassas and Warrenton areas, allowing personal in-home care services in northern Virginia. This builds on the company's existing strategy of adding established personal care providers with strong community presence and profile to its "brand family."
"The timing of the Care Perfections acquisition is perfect and is a lovely way to close out the year. The addition of a personal care company into our ever-growing brand family, has added a lot of excitement among the team," Tim Hanold, CEO of Care Advantage, said. "After a strong year of growth, both in terms of organic and M&A, to add two new markets and ultimately increase the opportunities for us to care for more Virginia residents is very exciting."
“The vision that Care Advantage holds for our company, coupled with the operational experience, expertise and enthusiasm they bring to the table is both encouraging and exciting in equal measure.”
Kwasi Anwomea, president and CEO of Care Perfections Health Services
Jasmyne Ray is the revenue cycle editor at HealthLeaders.