Atlanta, Georgia – Edge Healthcare Partners is pleased to announce that it advised Angels of Care (“AOC” or “the Company”), a portfolio company of Varsity Healthcare Partners (“VHP”), on its recapitalization by Nautic Partners, LLC (“Nautic”). AOC is a leading provider of comprehensive home health services to pediatric patients with complex medical conditions across seven states. The terms of the transaction, which closed on February 9, 2024, were not disclosed. The AOC transaction represents Edge’s 15th closed transaction in the post-acute sector since 2020.
Jessica Riggs, Chief Executive Officer of AOC, expressed her gratitude to the entire VHP team for their extensive capital, operational and strategic support during their partnership and further commented that the entire team at AOC is excited to embark on the next chapter with Nautic. “Partnering with Nautic allows us to continue our mission to provide the highest quality patient care to medically fragile and complex individuals,” Riggs said. “Edge’s invaluable support and strategic guidance throughout the transaction process proved instrumental in helping us find the best partner to facilitate the Company’s next phase of growth,” she added.
"We are extremely proud of the accomplishments of AOC during our partnership with the entire AOC family and are confident that the Company is well-positioned for continued success under Jessica’s leadership," said Kenton Rosenberry, Founding Partner at VHP. "Edge's collaborative approach and deep industry knowledge were instrumental in ensuring a successful transaction and the best possible outcome for AOC."
“We are grateful for the opportunity to work with Jessica Riggs and the teams at Angels of Care and Varsity Healthcare Partners. We look forward to witnessing AOC's continued success under Nautic's guidance,” said Bryan Pope, Partner at Edge Healthcare Partners. The AOC transaction represents Edge’s 15th closed transaction in the post-acute sector since 2020.
About Angels of Care
Founded in 2000, AOC provides long-term, continuous skilled care to medically complex children and young adults. AOC was born out of a vision to provide high-quality care in a loving, caring, and professional manner. At the center of its operations, is its HALOS culture (Heart, Advocacy, Love, Outreach, Speed), that places its clients and employees at the heart of everything they do. AOC provides private duty nursing, therapy, CNA, LHA, PPEC, attendant care, and DME services across Texas, Colorado, Arizona, Florida, South Carolina, North Carolina, and Pennsylvania. For more information, please visit www.angelsofcare.com.
About Varsity Healthcare Partners
Varsity Healthcare Partners is a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading healthcare services companies. VHP’s collaborative partnership approach involves driving significant operational and managerial enhancement early in the life of each platform investment followed by the execution of an aggressive and multidimensional growth plan. The investment team is supported by a highly differentiated Operating Partner program consisting of dedicated healthcare executives across all major functional operating areas. As such, VHP is able to provide exceptional strategic and operational support necessary to maximize the performance and success of each platform investment. VHP is committed to true partnerships emphasizing core values based on transparency, respect and accountability. For more information, please visit www.varsityhealthcarepartners.com.
About Nautic Partners
Nautic Partners is a Providence, Rhode Island-based middle-market private equity firm that focuses its expertise and market knowledge on three sectors: Healthcare, Industrials and Services. Nautic has completed more than 150 platform transactions throughout its 38-year history. In pursuing its thematic and proactive investment strategy, it seeks to partner with executives and management teams in an effort to accelerate the growth trajectory of its portfolio companies via acquisitions, targeted operating initiatives, and increased management team depth. For more information, please visit www.nautic.com.
About Edge Healthcare Partners
Edge Healthcare Partners is an independent Atlanta, Georgia 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 90 years of collective investment banking experience and have completed more than 100 transactions across the entire spectrum of healthcare, with a particular focus on post-acute, multi-site and outsourced healthcare services providers. Securities are offered through EHCP Corporate Finance, Member FINRA and SIPC. For more information, please visit www.edgehcp.com.
