BelHealth-backed Care Advantage names Hanold as president, sales EVP and leader of personal care unit

Care Advantage, a provider of home health services, has appointed Tim Hanold as president, executive vice president of sales and leader of the personal care division. Hanold’s work background includes various positions at Humana and its home care subsidiary SeniorBridge. Care Advantage is a portfolio company of BelHealth Investment Partners.

PRESS RELEASE

New York, NY and Richmond, VA – January 23, 2018 – Care Advantage (the “Company”), a leading provider of home health services and a BelHealth Investment Partners (“BelHealth”) portfolio company, announced that Tim Hanold has joined the Company as President, Executive Vice President of Sales and Leader of the Personal Care Division.

Over the past ten years, Mr. Hanold has held various roles at Humana (NYSE: HUM) and its home care subsidiary, SeniorBridge, where he reached the position of National Sales Director of a $120 million business. Mr. Hanold spent the last two years as Chief of Operations, Experience Delivery at Humana Wellness Solutions, where he was responsible for a $225 million business and a team of over 200 individuals. During his time at SeniorBridge, he worked with Care Advantage Board Member Dr. Eric Rackow, who served as CEO of the business.

William Mayes, CEO of Care Advantage, said, “Tim has outstanding experience in sales and operations, and we are thrilled to have him join our team at Care Advantage. His experience in private pay-based personal care, which is the majority of our revenue, will help our business immensely and propel us toward the next stage of growth for our Company. I look forward to working with him and have no doubt he will fit into our organization perfectly.”

About Care Advantage
Care Advantage is one of the 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, with an additional 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.