OMNI Home Care, a Medicare home health provider, has acquired certain assets of Boynton Beach, Fla.-based Homecare Solutions Group. No financial terms were disclosed. OMNI was acquired last year by BF Healthcare Partners and the Goldman Sachs Urban Investment Group.
OMNI Home Care (“OMNI”) announced today that it has acquired certain assets of Homecare Solutions Group based in Boynton Beach, Florida. This expands OMNI Home Care’s market share as well as its position as one of the largest Medicare Home Health providers serving the state of Florida.
This transaction marks OMNI’s first acquisition since its partnership with the Goldman Sachs Urban Investment Group and MBF Healthcare Partners in 2008. The private equity groups invested in OMNI as an opportunity to benefit from favorable demographic trends and through rapid organic and synergistic acquisition growth.
Through the acquisition, OMNI Home Care will add more than 140 full time and per diem employees which brings more clinical and administrative talent to OMNI’s already impressive 1,200 employee workforce.
This is an excellent addition to our business for many reasons,” said Fred Portnoy, President and Chief Executive Officer of OMNI Home Care. “This transaction perpetuates OMNI’s strategic plan of acquiring businesses that have strengths and alignment in operational and service excellence, as well as strong financial performance” adds Portnoy.
Tracy Clark Executive Vice President of Corporate Development stated, “This addition will more than double our market share in Southeast Florida. We have now found a significant opportunity in this region and will continue to grow our business at a steady and methodical pace across the country.”
Terms of the acquisition were not disclosed. The transaction was financed with proceeds from OMNI’s lenders and the investor group.
ABOUT OMNI HOME CARE
OMNI Home Care was founded in 2002 and since has grown to include more than 33 offices in Florida, Pennsylvania, Ohio, Illinois and Indiana. OMNI Home Care is a certified Medicare home health provider offering exceptional services such as skilled nursing, physical, occupational and speech therapy, medical social work and home health aides. OMNI Home Care has more than 1200 employees, with corporate offices in Coral Springs, Florida. OMNI Home Care was acquired by MBF Healthcare Partners and the Goldman Sachs Urban Investment Group in 2008.
ABOUT HOMECARE SOLUTIONS GROUP
Homecare Solutions Group is a home health provider serving, on average, more than 400 patients a day. Founded in 1991, Homecare Solutions Group is owned by Nurse Connection, Inc.