Atlanta, Georgia –Edge Healthcare Partners is pleased to announce the sale of Home Health Holdings (d/b/a Aspire Home Care and Hospice, (Aspire)), the leading provider of home health and hospice services in Oklahoma and a portfolio company of Evolve Capital (Evolve) to Jordan Health Services (Jordan), a portfolio company of Palladium Equity Partners (Palladium). The terms of the transaction, which closed on March 21, 2018, were not disclosed. Edge Healthcare Partners originated the transaction and served as the exclusive financial advisor to Aspire.
Sandy Gates, President of Aspire commented, “The entire Aspire management team is proud of the business we and our staff have built. After evaluating a number of potential buyers, we believe Jordan is the right partner to continue our mission of providing the highest quality home-based care throughout Oklahoma.”
“Through the combination of senior level attention, a highly competitive process and deep industry knowledge, Edge was able to deliver a successful outcome for Aspire and its shareholders while also finding the right buyer that will retain Aspire’s focus on delivering great care to patients”, added Jeff Baker of Evolve Capital.
As one of the leading advisors in the post-acute healthcare services sector, this transaction represents the eleventh home health or hospice transaction the Edge team has completed since 2015.
About Home Health Holdings (d/b/a Aspire)
Based in Oklahoma City, Oklahoma Aspire is one of the largest providers of home health and hospice services in the state of Oklahoma. Through its dense network of 18 locations, Aspire provides care to approximately 2,300 patients a day. Over its 20+ year history, Aspire has developed a reputation for providing excellent quality care among patients, their families and referral sources. For more information, visit the Aspire website, www.aspirehc.com.
About Evolve Capital
Evolve Capital is a private equity firm based in Dallas that is focused exclusively on investing in entrepreneurial businesses. Evolve’s principals have partnered with entrepreneurs to take their businesses to the next level since 1993. Evolve provides entrepreneurs with liquidity up front and also upon exit through their retained equity stake. In between, Evolve provides professional management and a strong partnership, which increases shareholder value and attracts more potential buyers. Evolve’s entrepreneur and management team partners focus on positioning companies to maximize value upon exit. For more information, visit the Evolve website, www.evolvecapital.com.
About Jordan Health Services
Founded in 1975 and based in Dallas, Texas, Jordan (www.jhsi.com) is one of the nation’s largest home care providers. With its unique blend of services including personal care, case management, skilled nursing, therapy and hospice services, Jordan’s team of highly skilled and dedicated professionals provide care to approximately 37,000 patients throughout the states of Texas, Oklahoma, Arkansas, Louisiana and Missouri.
About Palladium Equity Partners
Palladium is a middle market private equity firm with approximately $2.0 billion in assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has invested over $1.8 billion of capital in 32 platform investments and more than 100 add-on acquisitions. The principals of the firm have significant experience in food, consumer, financial services, business services, healthcare, industrial and media businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population. Palladium is based in New York City. For more information, visit www.palladiumequity.com.
About Edge Healthcare Partners
Edge Healthcare Partners is an independent Atlanta based investment banking firm focused on providing merger and acquisition services to leading private and public healthcare companies and private equity firms. Edge Healthcare Partners also assists companies with raising capital for growth, acquisitions, recapitalizations, going-private and management buy-out transactions The professionals of Edge Healthcare Partners have over 65 years of collective investment banking experience and have completed more than 100 transactions across the entire spectrum of healthcare including healthcare services, healthcare information technology, distribution and life sciences. Securities are offered through Edge Corporate Finance, Member FINRA and SIPC. For more information, visit https://www.edgehcp.com/.
