LifeCare Home Health Acquires Texas Agency
Plano, Texas-based LifeCare Home Health LLC has acquired Beyond Faith Homecare & Rehab LLC, a home health care and rehabilitative therapy services provider with multiple Texas locations. The acquisition price was not disclosed, though LifeCare received $41.5 million in financing for the acquisition and growth.
LifeCare is part of LifeCare Health Partners, and provides customary skilled home health care services, including nursing services, physical therapy and occupational therapy, as well as limited private duty and unskilled care.
The deal comes at a time when home health care valuations are reaching all-time highs.
White Oak Healthcare Finance, LLC, an affiliate of White Oak Global Advisors, LLC, provided the $41.5 million in financing for LifeCare, and is the sole lender and agent.
“Our mission is to build a multi-state platform that is well positioned to participate in the post-acute continuum and support a value-based care environment,” LifeCare CEO Jim Murray said in a press release. “We are excited to work with a strategic partner like White Oak, which has such deep domain expertise, to help finance our growth.”
Murray was named CEO earlier this year.
The acquisition of Beyond Faith is part of LifeCare’s growth strategy to invest in post-acute services, including home health care, wound care centers, intermediate skilled nursing, transitional care and behavioral health services, the press release stated.
“LifeCare has strong and well-established relationships with top health systems, payors, referrals sources and physicians enabling them to offer best-in-class service to patients,” Isaac Soleimani, White Oak’s managing director and partner, said in a statement. “We are looking forward to helping them continue this impressive trajectory.”
Written by Amy Baxter