PE-backed Care Advantage taps Farnum as CFO


Care Advantage, which is backed by BelHealth Investment Partners, has appointed Brian Farnum as chief financial officer. Previously, Farnum worked at ZP Group where he served as the CFO.

PRESS RELEASE

New York, NY and Richmond, VA – February 14, 2017 – Care Advantage (the “Company”), a leading provider of home health services and a BelHealth Investment Partners (“BelHealth”) portfolio company, announced that Brian Farnum has joined the Company as Chief Financial Officer (CFO).

Mr. Farnum has held financial leadership positions for more than twelve years. Most recently, Mr. Farnum served as the CFO for ZP Group, a privately held IT staffing and consulting provider. Prior to this, Mr. Farnum was responsible for the Financial Planning & Analysis and Margin Analytics divisions of Catalyst Health Solutions, a multi-billion dollar pharmacy benefits manager which eventually merged with SXC to become Catamaran. In this role, Mr. Farnum oversaw a team of employees dedicated to revenue, margin, operating expense and capital expenditure planning for the organization. “Becoming CFO of Care Advantage is a wonderful opportunity for me, and I look forward to working with William Mayes and the BelHealth team to make Care Advantage the leading provider of post-acute services in the mid-Atlantic,” said Mr. Farnum. “We are developing a strong foundation, and William and the BelHealth team have quickly executed on their investment strategy since investing in the business. I am energized and look forward to being a significant part of the Company’s growth in the coming years.”

William Mayes, Chief Executive Officer of Care Advantage, said, “I am thrilled to have a seasoned finance executive like Brian joining our team. His healthcare experience is strong given his years at Catalyst, and I am confident he will thrive in his new role as CFO. We will work in tandem to position Care Advantage for exponential growth and execute on BelHealth’s investment thesis. ”

About Care Advantage Care Advantage is one of Virginia’s largest privately held home healthcare providers. The Company specializes in “one-on-one” quality nursing care in the home and is a one-stop shop for home healthcare services. Corporate headquarters are in Richmond, and there are 12 branch locations throughout the state. The Company provides “private duty” nursing and personal care services such as bathing, dressing, and companionship and also provides “skilled” services primarily by licensed nurses.

About BelHealth Investment Partners

BelHealth Investment Partners, based in New York, is a healthcare private equity firm focused on lower middle market companies. BelHealth has a unique combination of investing, executive management and entrepreneurial experience. BelHealth acquires majority positions in entrepreneur-owned companies that it believes would benefit from its extensive operating and private equity investment expertise. The firm typically invests $20 – $50 million per platform company across three core healthcare segments: Services, Products and Distribution. BelHealth is currently investing from Fund II, a $350 million fund.

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