Univita Health, a platform portfolio company of Genstar Capital, has acquired Atenda Healthcare Solutions, a Floridian provider of home health care benefit management services. No financial terms were disclosed. Genstar formed Unitiva last year via the acquisition of Long Term Care Group, an Eden Prairie, Minn.-based provider of outsourced services to the long term care insurance industry and the geriatric care market.
Univita Health, a rapidly growing company that is seeking to transform home delivery of healthcare services, today announced the acquisition of Atenda Healthcare Solutions, Inc., a Florida-based provider of home health care benefit management services.
Founded in 1998, Atenda Healthcare provides and manages home health care services – home nursing, infusion therapy, specialty pharmaceuticals, and durable medical equipment – to enrolled members of managed care organizations such as Medicare Advantage plans, managed Medicaid plans and commercial health plans. Atenda manages all aspects of the home care benefit for health plans and presently serves health plans throughout the state of Florida. It provides its services through several wholly-owned locations and a contracted network of more than 250 certified, third-party home health providers that own over 500 home nursing locations.
“Atenda provides a strong platform by which we can greatly broaden Univita’s home healthcare services and continue transforming the way healthcare is provided in the home,” said Hugh Lytle, President and Chief Executive Officer of Univita. “Driven by the growth of the senior population and the advantages associated with providing care in a home setting, home healthcare services are an increasingly important component of the healthcare system.”
Genstar Capital launched Univita health in 2008 in partnership with healthcare industry veterans Ben and Hugh Lytle to transform the delivery of home health care services. The company helps seniors or the disabled to live and age independently and receive care in the residence of their choice while reducing cost and complexity for them, their families, state and federal governments, insurers and care providers. In addition to servicing in-home care needs such as home health care, infusion therapy and home medical equipment, the company will also provide personalized assessments, decision support tools and financial planning and support.
“We see a tremendous opportunity to expand Univita’s services and grow the company with this combination of Atenda into the Univita business,” said James D. Nadauld, a Principal at Genstar. “Atenda has additional room to expand in Florida and we expect to capitalize on its existing customer relationships to expand into new geographies.”
“Home healthcare expenditures continue to experience robust growth and managed care organizations increasingly value Atenda’s competitive advantages that help them contain costs as they shift from the in-house management of dozens of disparate home health providers to an outsourced, one-stop-shop offered by Atenda for integrated management of home nursing,” said Guillermo Salazar, Atenda’s Chief Executive Officer and Founder.
About Univita Health
Univita Health is creating a unified environment to help people live and age with independence. By providing one place to find and manage resources which support independent aging, Univita makes it easier for individuals to live and age with dignity, in the setting they choose. Univita is accomplishing this by transforming home based care – integrating the complete range of in-home care needs from basic caregiving through complex home health care – and adding the support of the latest technologies. And Univita offers a unique suite of personalized assessments and decision support built around the key dimensions of independence. To learn more, visit www.univitahealth.com.
About Genstar Capital, LLC
Genstar Capital (www.gencap.com) is a leading private equity firm that for over 20 years has been actively investing in high quality middle-market companies and building value in those businesses by utilizing the expertise of its operating executives. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating talent and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than $3 billion of committed capital under management and targets investments focused on selected sectors within the life sciences, healthcare services, financial & business services, software & software services and industrial technology industries.