Nautic Partners LLC has sold its stake in All Metro Health Care Services, Inc., a provider of home and community-based services in New York, New Jersey, Pennsylvania and Florida, after just over a year of ownership, the firm announced Wednesday. Terms of the transaction were not disclosed.
Private equity firm One Equity Partners (OEP) purchased All Metro in the transaction, taking over control of services at 10 branches in New York, 17 in Pennsylvania, two in New Jersey and two in Florida, according to a news release. Providence, Rhode Island-based Nautic originally acquired All Metro from Brown Brothers Harriman & Co. in September 2014, the Wall Street Journal reported.
“We are enthusiastic about the opportunity to support All Metro and its management team in this exciting new chapter for the company,” Brad Coppens, a managing director of OEP, said in a prepared statement. “Home care is entrenched as the care setting of choice for managed care organizations, states agencies and patients alike, and companies of scale like All Metro are uniquely positioned to deliver value.”
Based out of Valley Stream, New York, All Metro provides primarily non-skilled personal care services, including housekeeping, bathing and grooming for seniors and other high-need individuals. The company also participates in two specialty home care waiver programs in New York, which provide the necessary services required to allow nursing home eligible individuals and those with traumatic brain injuries to remain at home rather than in skilled nursing facilities, according to the release.
“We look forward to continuing our strong growth trajectory and program development in partnership with OEP and executing upon the numerous strategic opportunities in front of us,” All Metro’s President and CEO David Middleton said in the release.
Written by Kourtney Liepelt