PE HUB Healthcare Wire Highlights, 5.16.19


Pamplona Capital, private equity, healthcare,
Sarah Pringle of Buyouts. Photo by Robert Daniel, Buyouts.

Advent dives into home health, Carlyle’s Steve Wise talks healthcare

Hi, everybody!

I’m just in from Vermont, where I enjoyed biking and hiking along with all the artisanal beer and cheese that one treats herself with on a ladies-only family trip.

I also got a chance to dip in the Saint Lawrence River at a floating boat spa in Montreal. It’s gotta be cleaner than the Hudson, right? Well… added that to, and checked that off, my bucket list.

So what did I miss, healthcare fanatics?

Just in this morning: Advent International struck a deal to purchase Oak Hill Partners’ AccentCare, whose investment dates to 2007. I’m digging around for more specifics … Stay tuned or give me a shout at [email protected] if you’ve got any intel.

What I do know: The transaction comes some two years after Harris Williams and JP Morgan were tapped to find a buyer for the Dallas home health company. The initial process was ultimately shelved due to a misalignment of the price expectations between buyer and seller.

Back in August 2017, sources suggested the company was seeking a 10x Ebitda multiple, or a valuation upward of $700 million. Whether the sellers achieved that initial goal…TBD.

Sources had also characterized AccentCare as a well-run company, an appealing asset due to its joint ventures with health systems and a strong management led by CEO Steve Rogers.

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