Second California Home Health Agency is Acquired
June 17, 2004
FOR IMMEDIATE RELEASE
ARLINGTON, VA--Capitol Partners, one of the Mid-Atlantic region's premier
private equity firms, has announced the completion of the acquisition
of Able Home Health Inc. in Santa Clarita through its portfolio platform company CareSouth Health System. CareSouth plans to use the Santa Clarita-based home healthcare agency, which has changed its name to CareSouth, to further expand upon its earlier acquisition of another agency in southern California.
According to T.J. Jubeir, managing partner of the private equity firm "This acquisition builds upon our established homecare foundation and further enhances our position in California."
Acquiring Able Home Health, Inc. is in line with the strategic growth efforts of CareSouth. In October 2002, CareSouth purchased Advantage Home Health in Lancaster, California. The company is broadening its reach throughout the nation. "Adding Able Home Health Inc. to our portfolio of home healthcare agencies allows us to better serve communities within southern California," states Rick Griffin, CareSouth's CEO.
CareSouth is a leading provider of home care and business services in the United States. CareSouth clients are patients, physicians, hospitals, freestanding and hospital-based home health agencies and third party payors. Through its large, integrated healthcare delivery system, CareSouth provides state-of-the-art services to patients and businesses across the United States. CareSouth owns and manages for its private equity partners, 26 certified home health agency locations. These agencies are located in Georgia, Alabama, North Carolina, Tennessee, Texas and California. CareSouth also manages over 83 locations owned by third parties.
The private equity firm's ultimate objective for CareSouth is to create the premier homecare company. By leveraging its cost-effectiveness and deep clinical consulting knowledge, CareSouth aims to emerge as not only the premier, regionally-focused clinical homecare company but additionally the low-cost service provider.
For further information, contact Capitol Partners at 703.248.9600.