Care Advantage, a portfolio company of BelHealth Investment Partners, has acquired Hampton, Virginia-based Care Solutions, a provider of home personal care services. No financial terms were disclosed.
Richmond, VA – December 12, 2017 – Care Advantage, a leading provider of home healthcare services in the Mid-Atlantic and a BelHealth Investment Partners (“BelHealth”) portfolio company, announced the acquisition of Care Solutions of Tidewater, LLC (“Care Solutions” or the “Company”).
Care Solutions operates an agency in Hampton, Virginia that provides non-skilled personal care services in the home primarily for private pay patients. The acquisition strengthens Care Advantage’s presence in Southeastern Virginia and makes Care Advantage a leader in this market after coupling it with the acquisition of Stay at Home Personal Care earlier in 2017.
William Mayes, CEO of Care Advantage, said, “The acquisition of Care Solutions enhances our presence and market share in Eastern Virginia, which is one of our key targeted geographies for growth within our existing footprint. Their reputation for focusing on high quality patient care will fit seamlessly into our culture at Care Advantage.”
Scott Lee, Managing Director of BelHealth and Care Advantage Board Member, added, “Care Solutions is a very strategic acquisition for the platform and strengthens our personal care division. The business has built very strong referral relationships in its service area and further expands our private pay patient census.
We are continuing to aggressively pursue add-on acquisitions both in Virginia and other contiguous states to execute on our 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 16 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 invests across three core healthcare segments: Services, Products and Distribution. BelHealth is investing from its current $350 million fund.