BelHealth Investment Partners completed the sale of Care Advantage, which provides at-home care in the Mid-Atlantic, to Searchlight Partners. BelHealth acquired Care Advantage in January 2017 and completed 12 add-ons during its more than four-year hold, quadrupling revenues.
BelHealth Investment Partners, LLC (“BelHealth”) is pleased to announce that it has completed the sale of Care Advantage, a leading at-home care business in the Mid-Atlantic of the United States, to Searchlight Capital Partners, L.P. (“Searchlight”)
Founded in 1988, Care Advantage offers in-home care services to patients across Virginia, Maryland, Washington D.C., and Delaware. The company employs approximately three thousand personal care aides, certified nursing assistants, skilled nurses and therapists that provide individuals with the care they need from the comfort of their homes.
BelHealth acquired Care Advantage in January 2017, and over its four and a half year hold period completed twelve add-on acquisitions and quadrupled revenues.
“For more than three decades, Care Advantage has enabled seniors to maintain independence in the comfort and safety of their own home,” said Scott Lee, Managing Partner of BelHealth. “We built the leading provider of personal care services in the Mid-Atlantic by ensuring we were taking care of our incredible team of committed caregivers and clinicians. As the custodian of Care Advantage over the last four and a half years, we are thrilled we found a partner that shares our dedication to Care Advantage’s strong legacy of care. We look forward to following the Company’s continued success and growth with their next chapter”.
About BelHealth Investment Partners
BelHealth Investment Partners is a healthcare private equity firm focused on U.S. based 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. BelHealth is currently investing from Fund II, a $350 million fund.