The Care Team acquires InTeliCare
Private equity-backed The Care Team has acquired InTeliCare Home Health & Hospice. The financial terms of the deal were not disclosed.
Farmington Hills, Michigan-based The Care Team is a home-based care provider that delivers a variety of services including nursing, therapy and hospice services across central and eastern Michigan. The Care Team is a portfolio company of the Denver-based PE firm Revelstoke Capital Partners.
InTeliCare Home Health & Hospice is a Michigan-based care provider that operates in Standish, Gaylord and Traverse City.
For The Care Team, the deal was an opportunity to join forces a company that closely aligns with its goals in terms of care delivery, Jason Laing, CEO and founder of The Care Team, said in a statement.
“The Care Team and InTeliCare share similar cultures and a strong commitment to patient care, clinical excellence and compliance,” Laing said. “We see a tremendous opportunity to combine the strengths and capabilities of both companies.”
The deal expands The Care Team’s footprint and places the company in a stronger position to negotiate with payers and referral partners moving forward.
“With the acquisition of InTeliCare, The Care Team will have the ability to treat patients across the entire lower peninsula of Michigan, which will allow us to be better partners to our payer and referral relationships,” Jonny Miller, vice president at Revelstoke, said in a statement.
CareFinders Total Care purchases Union Home Care
CareFinders Total Care has purchased Union Home Care, a Pennsylvania-based home care services provider.
Founded in 1995, Hackensack, New Jersey-based CareFinders provides in-home care services to more than 8,500 patients throughout New Jersey, Pennsylvania and Connecticut. It has 26 offices in total.
For CareFinders, the deal is another opportunity to expand its Pennsylvania footprint. Currently, the company has six offices in the state.
“Union Home Care is a high-growth, premier home health agency in the Philly market offering Medicaid personal care services,” CareFinders CEO Jim Robinson said in a press release. “This newest member of the CareFinders family of companies has an impeccable reputation for high-quality personalized care. With our expanded footprint in Philadelphia, this acquisition takes us one step closer to our goal of becoming the No. 1 home care services company in the Northeast.”
Both organizations align when it comes to values and an overall mission, Mila Mendel, the founder of Union Home Care, said in a statement.
“This is an exciting change that will benefit our clients, our caregivers and our health care partners, and I am excited to help lead this charge,” Mendel said.
Moving forward, Mendel will serve as the executive director of CareFinders’ Philadelphia division. She will also oversee growth plans in that market.
Home-focused health care organizations receive approval to merge
Florida health systems Empath Health and Stratum Health System have been granted formal approval to merge from their board of directors. The organizations’ originally announced plans to merge back in February.
Both organizations provide care in the home setting through their networks. Stratum Health System oversees and supports both Approved Home Health and Avidity Home Health, two agencies with multiple locations in southwest Florida.
Meanwhile, Empath Health offers home health care as a part of its wide-ranging services. The company also focuses on patients with advanced or chronic illnesses.
The merger will create the country’s largest not-for-profit health system, according to the two organizations. Combined, the enterprise will serve more than 6,000 patients daily.
In total, the organizations would have an estimated annual gross revenue of $300 million.
Empath Health and Stratum Health System will continue to operate under their current banners.
Additionally, Rafael Sciullo, president and CEO of Empath Health, will continue in this role. Jonathan Fleece, president and CEO of Stratum Health System, will serve as president.
“As the saying goes, bigger does not automatically make you better,” Sciullo said in a press release. “It is what we do with that opportunity that will allow us to create meaningful change while continuing to excel at doing what we do best, … providing compassionate care to our patients and their families.”