Palladium Equity Partners Announces Acquisition of Jordan Health Services
NEW YORK, Dec. 27, 2010 /PRNewswire/ -- Palladium Equity Partners, LLC, a private investment firm based in New York focused on investments in the U.S. Hispanic marketplace, announced today that one of its affiliates has acquired Jordan Healthcare Holdings, Inc. ("Jordan" or the "Company"). Terms were not disclosed.
Founded in 1975, Jordan is one of the largest providers of home healthcare in Texas. Jordan offers home health services to pediatric and adult patients, including personal care, home management and skilled nursing, to Medicaid and/or Medicare eligible patients throughout the state.
Roy Serpa, CEO of Jordan Health Services, said, "Over the past 35 years, our Company has grown from a family-run, Medicaid-focused operation into one of the leading professionally-managed diversified home healthcare providers in the attractive Texas market. With this transaction, we will be positioned to pursue growth initiatives, including regional expansion and an increased focus on more skilled healthcare."
David Perez, Managing Director of Palladium Equity Partners, LLC said, "Jordan is well known throughout Texas as one of the premier regional providers of home healthcare services. The Company has a strong management team who over the last five years has built a robust operating platform and has successfully executed on its growth strategy. We look forward to partnering with management to pursue additional opportunities."
Lazard Middle Market acted as financial advisor to Jordan in connection with the sale. CIT Healthcare acted as Sole Bookrunner and Joint Lead Arranger along with Ally Commercial Finance on the senior financing. F&M Bank also participated in the senior financing. Prospect Capital Corporation provided the junior secured financing for the transaction.
About Jordan Health Services
Based in Mount Vernon, Texas, and founded in 1975, Jordan Health Services provides home health services, including personal care, home management and skilled nursing, to Medicaid and/or Medicare eligible patients throughout the entire state of Texas. With over 12,000 employees in 28 locations serving thousands of clients, Jordan Health Services is one of the largest home healthcare providers in the state of Texas.
About Palladium Equity Partners
Palladium Equity Partners, LLC, along with its affiliates ("Palladium") targets investments in business services companies as well as in financial services, consumer/retail, food/restaurants, healthcare, manufacturing, and media businesses. Palladium has a focus on companies that are well-positioned to capitalize on the fast-growing U.S. Hispanic market. The principals of Palladium have directed investments of over $2.0 billion of equity in more than 60 portfolio companies over the last two decades. For more information about Palladium, please visit www.palladiumequity.com.
Palladium Equity Partners
Jeff Taufield / Lyndsey Estin
Kekst & Company
SOURCE Palladium Equity Partners, LLC
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