Greenville, South Carolina-based health care real estate investment firm InvestSouth, LLC, has acquired in-home and hospice care provider Interim HealthCare of Greenville, Inc.
As part of the acquisition, the provider is pushing forward with a new name: Interim HealthCare & Hospice of The Upstate.
The acquisition was effective January 1, 2018. The price of the transaction was not disclosed by either party.
A growing footprint
A franchisee of Interim HealthCare, the national provider with more than 300 independently owned franchises, Interim HealthCare of The Upstate was established in 1979 by Charyl and Ray Schroeder. The franchise provides home health, private duty and hospice care services.
Interim HealthCare of The Upstate is also located in Greenville, South Carolina. The in-home care franchisee services six counties throughout South Carolina, including Cherokee, Spartanburg, Greenville, Pickens, Anderson and Oconee. The name change is reflective of the company’s geographic growth since its inception, according to a company press release.
Charyl Schroeder will remain as CEO and member of the company’s board of directors, while Ray Schroeder will serve as consultant.
The Schroeder’s continued involvement post acquisition was an important strategy for InvestSouth Manager Chris Lupo.
“Charyl and her husband, Ray, created the culture of the company and have led its growth and success over the decades,” Lupo told Home Health Care News via e-mail. “We look forward to what she and her team will continue to accomplish.”
Further, Interim will continue to operate as it has historically, Lupo explained, saying “We expect employees, patients and our partners to see very little change.”
InvestSouth’s acquisition of Interim HealthCare of The Upstate was rooted in the provider’s local reputation in the in-home care industry, added Lupo. In addition to Interim HealthCare of The Upstate, InvestSouth counts BCBS Doctors Care in Conway, South Carolina among its health care investments.
“Being local, we were familiar with the company, the owners and the many valuable services being performed in our community,” Lupo said. “Healthcare is a business we generally understand and we’re fortunate to have the opportunity to invest in a local company with such a great reputation.”
Moving forward, InvestSouth aims to build on the foundation that Interim HealthCare of The Upstate has laid for itself in the community.
“InvestSouth intends for Interim HealthCare of The Upstate to honor the legacy the Schroeders have created,” Lupo said. “This company has been about local people taking care of local people and we are here to support all of the wonderful employees who give their best every day in that pursuit.”
Written by Carlo Calma