TUCSON, Ariz. (February 10, 2016)—Vertess, a leading health care M+A advisory firm, today announced the December 2015 acquisition of Noble Care Corporation, a Tucson-based provider of community-based residential services to adults with mental illness and cognitive disabilities, by ResCare, a $2 billion entity that provides healthcare and human services.
Earlier in 2015 Vertess represented Agape Homes, an Arizona-based specialty provider of residential treatment services for individuals with severe disabilities, in another acquisition by ResCare.
Vertess also represented two durable medical equipment (DME) companies, Legacy Oxygen, a Kentucky-based company with $3.5 million annual revenue, and Sleep Management, a Louisiana-based company with $45 million annualized revenue and operations in 19 states, in their acquisition by Patient Home Monitoring (PHM), a healthcare company with $200 million annualized revenue and a focus on products and services that improve outcomes, reduce hospital readmissions and help control costs. PHM has since formally announced that it is initiating the process to graduate to the TSX Senior Exchange.
“We exceeded our goals for M+A activity in 2015,” noted Bradley Smith, the Vertess Managing Director/Partner who represented both Legacy Oxygen and Sleep Management in their transactions. He added, “We look forward to finding even more opportunities for sellers and buyers in 2016.”
Tom Schramski, PhD, CMAA, Founder and Managing Partner of Vertess, said, “Our company will continue to grow rapidly in 2016, given our executive health care track record and our ability to identify with the goals of diverse health care business owners. We have a strong pipeline in place this year and are gratified by the value we will bring to our clients.”
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