M&A Transactions: Five Points Enters the Northeast, Tidewell Hospice Acquires in FL
Five Points Healthcare Merges with Millenium Home Health Care
Five Points Healthcare, an Atlanta-based home health care provider, has merged with Millenium Home Health Care, effective Jan. 1, 2018.
Millenium is a home health care provider that has served Southeastern Pennsylvania, Northeastern Pennsylvania and Delaware for 24 years. Five Points operates home health locations in Alabama, North Carolina, Tennessee and Virginia, as well as hospice services in Tennessee.
The combined company will operate under Five Points Healthcare, LLC. Anthony Angelo, president and CEO of Millenium, will serve as president, and Rob Radics will continue to serve as CEO of Five Points.
Millenium was representd by Mertz Taggart in the deal. Financial terms were not disclosed.
Stratum Health System Acquires Avidity Home Health
Stratum Health System, the parent company of Tidewell Hospice, acquired Avidity Home Health, a Naples, Florida-based home health care company. Tidewell provides post-acute care services in Sarasota, Manatee, Charlotte and DeSoto counties in Florida.
Financial terms of the deal were not disclosed. J.P. Martin, CEO of Avidity will continue in his role and retain a minority ownership. The company will operate under the Avidity name.
Cory Mertz, managing partner of Mertz Taggart, represented Avidity** in the deal.
Care Advantage Acquires Ready Hands
Care Advantage, a home health care provider in the Mid-Atlantic region, has acquired Ready Hands, Inc., a private pay personal care services provider based in Alexandria, Virginia.
The deal is the third acquisition Care Advantage has made since BelHealth Investment Partners made an investment in the company in early 2017. It also marks the provider’s first entry into the Northern Virginia market. Ready Hands currently serves the Fairfax, Arlington, Alexandria City and Prince William counties.
Financial terms of the deal were not disclosed.
Written by Amy Baxter
**Editor’s note: This article has been to updated from a previous version that stated Mertz Taggart represented Stratum. Mertz Taggart represented Avidity in the acquisition.