Medindia

X

Summer Street Acquires Willcare, a Regional Leader in Home Health Care

Friday, August 29, 2008 General News J E 4
Advertisement
Private equity firm and company executives to build on Willcare's reputation for quality in new markets and with new service offerings



BUFFALO, N.Y., Aug. 29 /PRNewswire/ -- Private equity fund manager Summer Street Capital Partners LLC has acquired Willcare, a leading regional home health care company with more than 1,500 employees providing skilled nursing, therapeutic, paraprofessional and case management services to about 4,500 patients in Upstate New York, the Hudson Valley region of New York, and Northeast Ohio.



Terms of the transaction were not disclosed, though Summer Street uses its aggregate $300 million under management to make equity investments that typically range from $5 million to $30 million in companies with annual revenues of $20 million to $100 million. Both Summer Street and Willcare are based in Buffalo.



"Willcare is a well-established and successful regional home health care leader, and Summer Street is pleased to provide capital and expertise that will enable the company to build on its reputation for high-quality patient care in new geographic markets and with new services," Summer Street Partner Andrew L. Fors said. "Willcare's employees and executives are doing outstanding work, and we look forward to helping them expand their regional leadership in home health care."



Consistent with Summer Street's strategy of investing alongside strong and experienced management teams, Willcare Chief Executive Officer Todd Brason and Chief Financial Officer David Brason will retain their leadership positions and remain shareholders of the company.



"We believe our emphasis on case management, customer service and an employee-focused culture is what sets us apart at Willcare and allows us to assure complete coordination of the at-home needs of our patients, their families and their caregivers," CEO Todd Brason explained. "With Summer Street's support, we believe we can achieve the scale necessary to take full advantage of the demographic and regulatory trends that make home health care an essential player in the national movement to improve patient outcomes while controlling costs in an aging population."



Summer Street has invested previously in health care- including portfolio companies Palladian Muscular Skeletal Health and Reichert Ophthalmic Instruments - and other highly regulated industries.



ABOUT WILLCARE

Willcare is an independent, proprietary home health care company providing skilled nursing, therapeutic, paraprofessional and case management services. With about 4,500 patients, more than 1,500 employees and 17 offices in the Upstate New York, the Hudson Valley region of New York, and Northeast Ohio, Willcare is a large, regional provider of home health services in the Northeast United States. More information on the company, headquartered in Buffalo, N.Y., is available at www.willcare.com.



About Summer Street Capital Partners LLC

Summer Street Capital Partners LLC, founded in 1999, is a Buffalo, N.Y.-based private equity fund with approximately $300 million of committed capital focused on investing in small-market companies. The firm invests alongside talented managers, bringing capital and resources to support acquisitions and aggressive growth strategies. Summer Street's investors include leading pension funds, insurance companies and banking institutions. Summer Street's investments support management buy-outs, family transitions, corporate divestitures, growth financings and recapitalizations. The investment team is complimented by a team of experienced operating partners who are integrally involved in assisting portfolio companies. Please visit www.summerstreetcapital.com for additional information.



SOURCE Summer Street Capital Partners LLC
Advertisement


Advertisement

You May Also Like

Advertisement
View All

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
User Avatar
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions
s
Pharmaderm Annnounces the Arrival of KEROL(TM) ZX ...
S
VentriPoint Diagnostics Files Management Discussio...