Flexpoint Ford Completes $71 Million Sale of IntegraCare to Kindred Healthcare
Flexpoint Ford, LLC, a private equity firm that focuses on the health care and financial services sectors, has completed the $71 million sale of IntegraCare Holdings, Inc. to Kindred Healthcare, Inc. The transaction includes a potential $4 million earn out based on 2013 earnings.
IntegraCare, headquartered in Grapevine, Tex., is a Medicare and Medicaid certified provider of home health, hospice, and community services in Texas. The company’s home nursing services include skilled care, rehabilitation, and home health aide services.
Flexpoint initially invested in IntegraCare in 2007. Since then, the company expanded from 19 locations to 47.
“Our successful investment in IntegraCare is an excellent example of Flexpoint’s core strategy of partnering with outstanding management teams to build healthcare businesses focused on delivering quality and value to patients and payors,” said Perry Ballard, a principal at Flexpoint, in a statement. “We are confident that the management team will have continuing success with Kindred.”
Written by Alyssa Gerace