General Atlantic-backed Alternate Solutions Health Network is evaluating potential strategic deals in response to inbound interest, according to people with knowledge of the matter.
Harris Williams was engaged for financial advice after the company garnered unsolicited interest from strategic buyers, the sources said. They cautioned there is no certainty a deal will result from those conversations.
The Ketterton, Ohio-based company generates EBITDA of around $50 million, they added.
GA, a global growth equity investor, took a minority stake in Alternate Solutions Health September 2017.
Alternate Solutions Health Network is a unique home health company differentiated by its integrated joint-venture model with not-for-profit health systems. Through its partnerships, the company manages the discharge of patients into the home health setting and across the post-acute care continuum. A press release earlier this month said it partners with health systems representing 90 hospitals across five states.
The company’s care coordination model is empowered by a technology platform, which the company states provides efficiencies to its partners that lend to increased scalability and profit potential. It boasts that its technology reduces patients’ overall time of hospital stay while identifying the risk of readmission with 85 percent accuracy, hence improving patient care.
Alternate Solutions Health Network was founded in 1999 by husband and wife David and Tessie Ganzsarto, CEO and president of the company, respectively.
GA and Harris Williams declined to comment, while company executives could not immediately be reached.