Home Care of St. Francis is Acquired
August 4, 2004
FOR IMMEDIATE RELEASE
ARLINGTON, VA--Capitol Partners, one of the Mid-Atlantic region's premier
private equity firms, has announced the acquisition
of Home Care of St. Francis from St. Francis Hospital through its portfolio platform company CareSouth Health System. CareSouth plans to use the Columbus, GA-headquartered home healthcare agency, which has changed its name to CareSouth, to further solidify its presence in Georgia. The Columbus office will serve the Chattahoochee, Harris, Marion and Muscogee counties while Thomaston office will serve Meriwether, Taylor and Upson counties.
"Adding Home Care of St. Francis to our family of home care agencies is an example of our continued dedication and commitment to providing high quality care to the residents of Georgia," states Rick Griffin, CareSouth's CEO. "CareSouth and Home Care of St. Francis share the same core values of delivering superior home care in a cost effective manner. Joining forces allows us to remain a community and business leader and we look forward to the opportunities that lie ahead of us."
Acquiring Home Care of St. Francis is in line with the strategic growth efforts of CareSouth. The company is broadening its reach throughout Georgia and the nation. According to T.J. Jubeir, managing partner of the private equity firm "This acquisition continues to build upon our established homecare foundation and further enhances our position in Georgia."
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, 27 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.