Care Advantage Acquires Capital City Nurses to Expand Home Health Services Across Mid-Atlantic Region

VCBeat (WeChat ID: vcbeat) has learned that Care Advantage, a leading home-based medical services company, recently announced the acquisition of Capital City Nurses and its affiliates. The transaction was supported by BelHealth Investment Partners. Financial terms of the deal have not been disclosed. This marks Care Advantage’s ninth acquisition to date.

It is reported that Care Advantage acquired home care providers Direct Home Health and Ready Hands in 2018, and home care service providers Care Solutions and Stay at Home Personal Care in 2017.

Capital City Nurses (CCN), founded in 1976 and headquartered in Chevy Chase, Maryland, operates six offices across Maryland, Virginia, Delaware, and Washington, D.C. The company currently employs more than 500 caregivers and primarily provides hourly private-duty nursing services to patients.

As a leader in the home care services sector, the company provides patients with a comprehensive range of care services through its home care agencies and referral services, including private home care, companion care, dementia care, Parkinson’s disease care, and hospice care. It also offers professional medication management services.

Tim Hanold, CEO of Care Advantage, stated, “This is an exciting acquisition for Care Advantage. I am delighted to welcome Brian, CEO of Capital City Nurses, and his team into our nursing family. The combination of Capital City Nurses’ geographic footprint and client base fills a strategic gap in our offerings. This acquisition effectively integrates our businesses. Through this transaction, Care Advantage has expanded its service network in its Virginia home base and across the Mid-Atlantic region.”

Brian Rodgers, Chief Operating Officer of Capital City Nurses, added, “From my first meeting with Tim and BelHealth, I believed our two companies would become like-minded home care partners. Patient care is our top priority, and we are delighted to join the Care Advantage family.”

Care Advantage, established in 1988, is one of the leading private home healthcare providers in the Mid-Atlantic region. The company specializes in “one-on-one” premium in-home care, dedicated to delivering exceptional care services to patients. It operates 24 branches across Richmond, Virginia; Maryland; Delaware; and Washington, D.C. The company provides Medicaid-covered, private-pay, and personal care services, such as bathing, dressing, and companionship. Its care staff primarily consists of licensed nurses and therapists.

BelHealth Investment Partners, founded in New York in 2011, is a private equity firm focused on investing in the mid-to-low-end healthcare market. BelHealth boasts unique investment expertise, along with executive management and entrepreneurial experience. In the healthcare sector, the company primarily invests in healthcare services, health information technology, and healthcare distribution. Within the services domain, its key investment areas include outsourced clinical services, medical laboratory services, and pharmacy services. In the product domain, the company mainly invests in companies operating in the generics, medical devices, and dermatology sectors.

(Compiled by Song Chenchen)