Pharos Capital Group-backed Charter Health Care Group acquired Physmed Home Health Care and Serene Care Hospice. The companies were owned by Domer Sodusta and led by chief executive officer Jake Panowicz. Panowicz will become Charter’s vice president of home health, overseeing nationwide operations, growth and clinical quality initiatives for Charter’s home health divisions.
Pharos Capital Group, LLC (“Pharos”), a private equity firm based in Dallas and Nashville, announced that its post-acute care provider platform, Charter Health Care Group (“Charter”), has acquired Physmed Home Health Care (“Physmed”) and Serene Care Hospice (“Serene Care”), both located in Omaha, NE. The sister companies were both owned by Domer Sodusta and managed by Chief Executive Officer Jake Panowicz. Financial terms of the transaction were not disclosed.
Charter, based in Southern California, is a provider of post-acute care services that offers a broad spectrum of programs for patients navigating the last years of life, including hospice, home health, complex care management and palliative care services. The company serves over 4,000 patients in six states.
“Especially over the past year, with traditional medical settings upended, home health and end-of-life services have become increasingly important to patient care. From its home base in Southern California, Charter has expanded to additional markets in Denver, Las Vegas, Phoenix, and Salt Lake City, and is pleased to take its post-acute platform to Omaha,” said Bob Crants, Founding Partner and Chief Investment Officer of Pharos. “We are proud to support Charter’s mission of ensuring a comfortable patient experience while lowering the costs of care.”
Physmed strives to provide safe, quality-based healthcare services to patients in their place of residence. The company, which has served the Omaha area since 2003, specializes in geriatric care, providing physical therapy, occupational therapy, and speech therapy, as well as social work and dietician services plus a wide array of skilled nursing assistance.
Serene Care, founded in 2013, provides comprehensive, in-home, end-of-life care. The Serene Care team works closely with each patient and family to develop a personalized treatment plan to support their physical, emotional, and spiritual needs. Services include nursing, spiritual care, bereavement, social work, and other specialty practices.
Jake Panowicz will serve as Charter’s Vice President of Home Health, bringing his 14 years of leadership of the companies’ Omaha post-acute care services to his new role with Charter. As Vice President of Home Health, Panowicz will oversee nationwide operations, growth, and clinical quality initiatives for Charter’s home health divisions.
Steve J. Larkin, Charter’s CEO, said, “We are pleased to add Physmed and Serene Care to our portfolio. We believe both are proven leaders in their region and are a strong fit with our culture of providing compassionate, comprehensive care solutions for patients and families navigating the last four years of life. We look forward to adding them to our growing portfolio of post-acute care companies and helping them expand their service offerings to become full spectrum care providers, supporting patients with complex care needs and their providers in the communities where they work and live.”
“We are pleased to partner with Charter as they share our mission of providing the best complex care solutions for patients, families, and caregivers,” said Panowicz. “Charter’s culture and vision is similarly focused on improving patient outcomes and quality of care while reducing the total cost of care provided to chronic, complex, and end-of-life patients. I’m confident this partnership will bring even more high quality post-acute care services to the Omaha area.”
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About Charter Health Care Group
Charter Health Care Group (“Charter”), founded in 2006, is an integrated healthcare provider offering hospice, home health, and complex care management services while helping patients and families navigate the post-acute care continuum. With over 4,000 patients and 16 locations in six states, the company has established a deep presence in the Southern California market and has positioned itself as a trusted partner for hospital systems, managed care organizations, assisted living and skilled nursing facilities, medical groups, and community partners. For more information, visit http://www.charterhcg.com/.
About Pharos Capital Group
Based in Dallas and Nashville, Pharos Capital Group (www.pharosfunds.com) is an SEC Registered Investment Advisor. Since inception, Pharos has invested in 54 companies and currently has over $1.2 billion of private equity assets under management. Pharos typically invests $25-$50 million in rapidly growing middle market companies seeking later stage funding for internal growth, acquisitions, leveraged buyouts, management buyouts, or recapitalizations predominantly across healthcare sectors.