Strategic Acquisition Expands Simplura's Home Care Services in Central Pennsylvania
NEW YORK – MAY 9, 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 Keystone In-Home Care (“Keystone” or “the Company”). Financial terms of the private transaction were not disclosed.
Headquartered in Lancaster, PA, Keystone is an independent provider of customized, in-residence care services for seniors and the disabled who reside in Pennsylvania’s Lebanon, Lancaster, York, Cumberland, Adams and Dauphin counties. The Company provides a wide range of services including companion living, housekeeping, meal preparation and transportation.
“Keystone is well-known for its world class care services in the communities of Central Pennsylvania,” said David Middleton, President and CEO of Simplura. “We are excited that President Maggie Gross and her team have joined Simplura to continue providing the same compassionate care giving services that Simplura provides to our clients.”
Keystone will become part of CareGivers America, the brand name under which the Pennsylvania operations of Simplura operates.
“Keystone’s approach to training its professional caregivers is well aligned with Simplura’s ‘Better Together’ philosophy that supports improving the quality of life and well-being for their clients and 11,000 team members alike,” said Greg Belinfanti, Senior Managing Director at OEP.
Brad Coppens, Managing Director at OEP, added: “Simplura offers affordable care with unmatched service delivery, and Keystone is an excellent addition to its roster of companies that are widely known for providing innovative solutions that drive positive outcomes.”
“We’re thrilled to join Simplura’s large and fast-growing family of residential health care agencies,” said Gross. “We look forward to teaming up with Dave and his experienced team who share our dedication to compassionate care.”
Keystone is the fifth acquisition Simplura has made under OEP’s ownership of the business. Formerly known as All Metro Health Care before it rebranded as Simplura in January 2018, the Company acquired the home care assets of Village Care in February 2016; Multicultural Home Care, a leading provider of home care services in the Greater Boston area, and its Freedom Home Care business in December 2016; Independence Healthcare Corp., a provider of home care services, also in Massachusetts, in August 2017, and SarahCare of Jenkintown, PA., in February 2018.
About One Equity Partners
OEP is a middle-market private equity firm 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 150 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 go back to 1955 when the founding organization – All Metro Health Care – began providing services in Long Island, NY. Since then All Metro expanded across the state of New York and acquired operations in New Jersey and Florida to become one of the largest and most respected home care companies in the country. In 2015 All Metro purchased CareGivers America in Pennsylvania; in 2016 All Metro purchased Multicultural Home in Massachusetts and in 2017 All Metro purchased Independence Healthcare, also in Massachusetts. In 2018, all of these companies 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 represents the leading providers of home care services to provide assistance with activities of daily living to complex home nursing services provided around the clock by Registered Nurses. For more information, please visit www.simplura.com.
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