Nightingale Partners Invests in Edenbridge Health to Offer Innovative Eldercare Options to Underserved Seniors
WASHINGTON, Oct. 28, 2020 /PRNewswire/ -- Nightingale Partners LLC ("NP"), the first healthcare qualified opportunity zone fund and advisory firm, today announced a strategic partnership and investment into Edenbridge Health ("EBH"), a rising eldercare company with the mission of allowing frail seniors in underserved communities to lead connected, meaningful lives in-home and community-based settings. EBH is the latest entrant to the Program of All-inclusive Care for the Elderly (PACE), a Federal demonstration operated by the Centers for Medicare and Medicaid Services (CMS), with multiple planned sites in underserved urban communities.
"Nightingale is thrilled to lead this investment round for Edenbridge," said Chairman and Founder John Gorman, who will be joining EBH's board. "Edenbridge's management team is the Avengers squad of eldercare. We view this as the Golden Age of PACE as both seniors and insurers retreat from nursing homes that are vectors for COVID-19. Edenbridge's focus on small adult daycare centers offering home and community-based services to address social determinants of health, like food security and transportation, aligns perfectly with Nightingale's mission. Edenbridge is exactly what this moment calls for."
PACE has become the gold standard of eldercare in the United States. PACE is a nationally recognized caregiving model designed for individuals who wish to remain at home rather than being placed in a nursing home. The PACE program covers all Medicare and Medicaid services, delivered by an interdisciplinary team including doctors, nurses, and home health aides, working in concert with a comprehensive network of service providers. According to the National PACE Association, 93% of PACE program participants re-enroll each year, with clients and families reporting satisfaction rates of 96.9% and higher.
"We are just delighted to have Nightingale's expertise on our team," said Stephen Gordon, MD, founder, and CEO of Edenbridge Health. "As a mission-driven start-up, it is incredibly gratifying to have experienced advisors invest in our future. With John Gorman and his team, we share a dream for expanding more humane arrangements that are within reach for millions of families. We look forward to building that future together."
About Nightingale Partners LLC
Founded in 2020 and based in Washington, D.C., NP is a Qualified Opportunity Zone Fund and advisory firm connecting capital to payers and care providers to the medically underserved. NP endeavors to improve the quality of care and reduce unnecessary health care expenditures for impactable, high-utilizers through advanced technology, locally-curated social services providers, and innovative financing to address Social Determinants of Health (SDOH).
About Edenbridge Health
Founded in 2016, Edenbridge Health offers a new vision for delivering health care for the frail elderly. Our mission is to partner with communities that want to help seniors stay out of nursing homes and live dignified lives in the community. From years of experience and national study of what works best for seniors, we have added to the PACE model a special focus on supporting the personal autonomy of participants and their efforts to lead meaningful lives.
For inquiries please contact Nightingale Partners LLC at [email protected]
SOURCE Nightingale Partners LLC
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