ATLANTA, GEORGIA – Edge Healthcare Partners is pleased to announce that Celtic Healthcare, Inc. (“Celtic” or the “Company”), a leading provider of skilled home healthcare and hospice services in the northeastern and mid-Atlantic regions, has been acquired by The Washington Post Company (NYSE: WPO). Celtic’s Founder and CEO, Arnie Burchianti, has retained an ownership interest in Celtic and will continue to run the Company. The transaction closed on November 5, 2012. No financial terms were disclosed. Edge Healthcare Partners served as the exclusive financial advisor to Celtic.
“The Celtic team has successfully developed a comprehensive patient focused care delivery model through leveraging its proprietary technology system. In crafting a transaction for Arnie and his team, our goal was to find a partner who shared Celtic’s long-term vision, strong corporate values and who could provide additional resources for continued growth. We have been very impressed with The Washington Post Company’s corporate culture, decentralized operating philosophy and partnership approach and look forward to Celtic’s continued success,” said Bryan Pope, Partner of Edge Healthcare Partners.
Celtic Healthcare is a multi-state provider of Medicare-certified home healthcare and hospice services. Founded in Mars, PA, Celtic’s service area now spans throughout western, central and northeastern Pennsylvania, and Montgomery and Baltimore counties in Maryland. Celtic Healthcare has earned national recognition for its proprietary technology and specialized chronic disease management programs utilizing virtual and telehealth technologies. Celtic also has received numerous awards including Best Places to Work, Fastest Growing Company, Homecare Marketing and Homecare Elite Status.
The Washington Post Company (NYSE:WPO) is a diversified education and media company. The Company’s Kaplan subsidiary provides a wide variety of educational services, both domestically and outside the United States, including programs to prepare students for careers in healthcare and many other fields. Its media operations include cable television systems, newspaper publishing (principally The Washington Post) and television broadcasting (through the ownership and operation of six television broadcast stations).
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/.
