The Loving Care Agency, Inc., a provider of pediatric skilled nursing and home health aide services, has acquired six homecare branches from Gentiva Health Services, Inc.
The branches in three states specialize in pediatric homecare, representing more than 80 percent of Gentiva’s pediatric homecare operations, and also provide home health aide services.
“Having worked directly with these branches during my tenure at Gentiva, I know that they represent an excellent strategic fit for us as they have earned an excellent reputation among patients and referral sources and share the same commitment to quality care that is the cornerstone of Loving Care,” said Bob Creamer, chief executive officer of Loving Care.
The six branches provide for further expansion in Pennsylvania and additional diversification into Massachusetts and Arizona. The acquisition makes Loving Care one of the largest pediatric nursing and home health aide companies in the country, with more than $145 million in annual revenues.
Equity for the transaction was provided by Funds managed by MTS Health Investors, LLC, a healthcare private equity firm, and funds managed by Oaktree Capital Management, LP, an investment management firm, who collectively own Loving Care.
“This transaction represents a very attractive acquisition for Loving Care, allowing further penetration in Pennsylvania and immediately providing sizeable and reputable platforms in Massachusetts and Arizona,” said Kenton Rosenberry, a senior managing director at MTS and director of Loving Care.