PSA Healthcare Announces Acquisition of Professional Pediatric Home Care and Reach Pediatric Therapy
Transaction to Enhance PSA's Presence in the Western U.S. and Texas
ATLANTA, DENVER and HOUSTON, Sept. 19, 2016 /PRNewswire/ -- PSA Healthcare ("PSA"), a leading provider of pediatric home care for children with medical complexities, announced today that it has acquired Professional Pediatric Home Care (PPHC), a leading provider of home care services and therapy to medically fragile children and their families in Colorado. In addition, PPHC provides clinic and home-based pediatric therapy through its affiliate Reach Pediatric Therapy in Texas. Both PSA and PPHC have been serving patients for the last 30 years. Financial terms of the transaction, which closed on September 17th, were not disclosed. PPHC was previously a portfolio company of Bow River Capital Partners, a private alternative asset management company based in Denver, Colorado.
Consistent with PSA's strategy to enhance its presence in the Western United States and Texas, the acquisition makes PSA the largest pediatric home care provider in Colorado while adding a therapy component to PSA's offerings, which now include both clinic-based and in-home therapy.
Rod Windley, PSA's Chairman, said: "PPHC is an outstanding company that complements PSA both geographically and functionally. As a national leader in pediatric home care, we are thrilled to be expanding our presences in Colorado and Texas. When we first started talking to PPHC, it was immediately clear to us the opportunity that the combination of our two companies would bring to the patients and families that we serve."
Mark Bruning, President and CEO of PPHC, noted: "We are thrilled to be joining PSA Healthcare. After spending many years as friendly competitors in Colorado, we now have the chance to enhance what we offer to our patients and referral sources. In addition to the geographic and strategic fit, the dedication to clinical excellence and integrity in care that are the hallmarks of both companies makes this such a positive development for our patients."
The addition of PPHC will expand PSA's services in the state of Colorado to six locations. PSA will also acquire Reach Therapy in Texas, a part of PPHC. The addition of Reach in Houston includes three clinics as well as a home-based therapy business, giving PSA the opportunity to expand its rapidly-growing footprint in Texas.
Bruno Darré, Partner and co-Founder of Bow River Capital Partners, added: "PPHC and Reach have talented and passionate people providing outstanding care to medically fragile children and it's been an honor for me to have had the opportunity to work with them to build upon the historical success of the companies. It was important to find a good home for the companies and the time I've spent with the PSA team gives me confidence that they share both similar values and the commitment to employees required for them to meet the needs of our patients and their families. I will be following the future success of PPHC and Reach with great interest."
Edge Healthcare Partners served as PSA's financial advisor.
About PSA Healthcare
Based in Atlanta, Ga., PSA Healthcare has been a recognized leader in pediatric and adult home care for more than 30 years. PSA has more than 70 locations in 16 states, including Florida, Georgia, Pennsylvania, Colorado, Texas and Louisiana. A privately owned company, PSA is dedicated to providing Trusted Care with compassion, quality, and clinical excellence. For more information, visit www.psahealthcare.com.
About Bow River Capital Partners
Founded in 2003, Bow River Capital is a private investment firm based in Denver, Colorado. The partners formed Bow River Capital following several years of successfully investing their own monies with a long term vision of building a world class, diversified investment management platform committed to the lower middle market. Collectively, we have deployed capital into diverse industries and across the capital structure. Since inception over 13 years ago, Bow River Capital has raised nearly $280 million in capital across four different funds.
Contacts:
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Thomas Davies (212) 521-4873
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Ross Lovern (212) 521-4876
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SOURCE PSA Healthcare
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