Acquisition Positions Simplura as a Leading Pennsylvania Home Care Services Business
NEW YORK – August 10, 2018 – One Equity Partners (“OEP”), a leading middle market private equity firm, today announced that its portfolio company, Simplura Health Group (“Simplura”), a provider of high-quality care services for elderly and disabled populations in five states, has completed the acquisition of Helping Hand Home Health & Hospice Agency (“Helping Hand” or “the Company”). Financial terms of the private transaction were not disclosed.
Headquartered in Philadelphia, Helping Hand is an independent provider of non-medical home care services for seniors in the Philadelphia metropolitan area. The Company provides a wide range of services including personal care attendant services, home health services, hospice services and skilled nursing, among others.
“Helping Hand has an excellent reputation for delivering quality care to its clients across Philadelphia, Bucks, Montgomery, Delaware and Chester Counties,” said David Middleton, President and CEO of Simplura. “We are pleased to welcome Helping Hand to the Simplura family, and we look forward to continue building upon our service offerings together.”
Helping Hand will become part of CareGivers America, the brand name of Simplura’s Pennsylvania operations.
“This acquisition reflects the strong partnership between OEP and Simplura that has enabled us to identify attractive non-medical home care businesses to generate strategic growth in key geographic regions,” said Greg Belinfanti, Senior Managing Director at OEP. “We believe the resources of a larger, well capitalized operator such as Simplura will position Helping Hand for continued success in Philadelphia and surrounding counties.”
“We have always felt that leadership in the greater Philadelphia market would be a cornerstone of our strategy to build one of the largest and most well-respected home care agencies in Pennsylvania,” said Brad Coppens, Managing Director at OEP. “Together with CareGivers America, SarahCare of Jenkintown and Keystone, we have achieved that objective and we look forward to engaging with key stakeholders in the state as a united front to deliver value, quality care and superior outcomes to our managed care customers and their beneficiaries.”
“Simplura has a strong commitment to providing compassionate, quality care that aligns well with Helping Hand’s commitment to deliver consistent and excellent in-home care to our clients and their families,” said Artem Ustayev, CEO of Helping Hand. “We’re thrilled to join Simplura and continue giving every individual client the attention, care and respect they deserve.”
Helping Hand is the sixth acquisition Simplura has made during OEP’s ownership of the business. Simplura acquired the home care assets of Village Care in February 2016; Multicultural Home Care, including its Freedom Home Care brand, in December 2016; Independence Healthcare Corp. in August 2017; SarahCare of Jenkintown in February 2018; and Keystone In-Home Care in May 2018.
About One Equity Partners
OEP is a middle-market private equity firm with $6.9 billion of assets under management focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 170 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit www.oneequity.com.
About Simplura Health Group
Simplura Health Group’s origins date back to 1955 when the founding organization – All Metro Health Care – began providing services in Long Island, NY. Since then, All Metro has expanded across the state of New York and acquired operations in Pennsylvania, Massachusetts, Florida and New Jersey to become one of the largest and most respected home care companies in the country. In 2018, these operations were brought together under the brand Simplura, in recognition that we are all Better Together as we continue to grow and expand our family of companies through future acquisitions. Simplura is one of the leading providers of home care services including assistance with activities of daily living and complex home nursing services. For more information, please visit www.simplura.com.
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