Care Advantage, a leading provider of home healthcare services based in Richmond, Virginia, completed the acquisition of Ready Hands Inc., a private pay-based personal care service provider operating in Northern Virginia.
| Deal-at-a-Glance | |
| Acquirer: | Care Advantage (US, Richmond) |
| Target: | Ready Hands Inc. (US) |
| Deal Value: | Undisclosed |
| Stake Acquired: | 100% |
| Type: | Acquisition |
| Date Announced: | 2018-01-30 |
| Date Closed: | 2018-01-30 |
| Advisors: | Not disclosed |
Deal Mechanics
Care Advantage finalized the acquisition of Ready Hands Inc. on January 30, 2018.
Strategic Rationale
The deal is part of Care Advantage's strategy to expand its presence in Northern Virginia, a region with significant growth potential in home healthcare services. The addition of Ready Hands will enhance Care Advantage’s service offerings and patient base within the targeted geographic market.
Financial Context
Care Advantage plans to leverage this acquisition to drive additional revenue streams through new patient referrals and expanded care services in Alexandria, Fairfax County, Arlington County, Prince William County, and other regions of Northern Virginia. The deal will also allow Care Advantage to scale its operations more efficiently by integrating the existing patient base and operational infrastructure.
Advisors
The transaction was completed without disclosing financial or legal advisors for both buy-side and sell-side entities.
Outlook
Care Advantage CEO William Mayes stated that the company looks forward to working closely with Ready Hands' team, caregivers, and patients to continue providing high-quality care services in Northern Virginia. BelHealth Investment Partners expects this acquisition to position Care Advantage for exponential growth as it expands its market footprint.