Care Advantage, a portfolio company of BelHealth Investment Partners, has acquired Chevy Chase, Maryland-based Capital City Nurses, a provider of personal care services. No financial terms were disclosed.
Richmond, VA – May 6, 2019 – Care Advantage, a leading provider of home healthcare services in the MidAtlantic and a BelHealth Investment Partners (“BelHealth”) portfolio company, announced the acquisition of Capital City Nurses and its affiliated entities (“CCN” or the “Company”). Since its initial investment in January 2017, this is Care Advantage’s ninth add-on acquisition and its first outside of Virginia.
Headquartered in Chevy Chase, MD, Capital City Nurses was founded in 1976 and currently operates six offices throughout Maryland, Virginia, Delaware and Washington D.C. The Company provides personal care services in the home primarily to private pay patients and maintains a staff of over 500 caregivers consisting of RNs, LPNs and CNAs. CCN provides primarily hourly services to its customers and has an outstanding reputation for high quality care in its markets. The original founder of the business, Susan Rodgers, turned day-to-day operations over to her son, Brian, seven years ago. Under Mr. Rodgers leadership, CCN has experienced strong and consistent growth throughout the past decade.
Tim Hanold, CEO of Care Advantage, said, “This is an exciting acquisition for Care Advantage, and I am very excited to welcome Brian and his team to our home care family. Our businesses fit together well from a cultural standpoint and both the geography and payor mix of CCN are exactly what we were looking for in a partner. We believe this acquisition positions Care Advantage for continued growth not only in our stronghold of Virginia but also in our new Mid-Atlantic geographies. I couldn’t be more excited about the future.”
Brian Rodgers, COO of Capital City Nurses, added, “Ever since my first meeting with Tim and BelHealth, I could tell that I’d be partnering with a like-minded home care company. Patient care is our top priority, and we are thrilled to be joining the Care Advantage family who clearly values the same ideals as our organization.
As such, CCN remains committed to continuing its 40-year history of providing exceptional home care services to its customers.”
About Care Advantage
Care Advantage is one of the Mid-Atlantic’s leading 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 24 branch locations throughout Virginia, Maryland, Delaware and Washington D.C. The Company provides a mix of Medicaid and self-pay nursing and personal care services such as bathing, dressing, and companionship and also provides “skilled” services primarily by licensed nurses and therapists.
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.