Tenet's California Homecare Acquired
March 31, 2005
FOR IMMEDIATE RELEASE
ARLINGTON, VA--Capitol Partners, a middle market focused private equity firm, has announced the acquisition
of Tenet Healthcare Corporation's California-based home health agencies through its portfolio platform company CareSouth Health System. The agencies are based in Los Gatos, Palm Springs, Alvarado, and Garden Grove, CA.
This acquisition follows CareSouth's strategic growth plan of acquiring geographically concentrated groups of agencies. “With this acquisition CareSouth gains a significant presence in California, bringing to six the total number of agencies it now owns in the state,” said Rick Griffin, CareSouth President and CEO. “At CareSouth, we look forward to serving these communities and continuing the excellent service established by these agencies. Our pledge is to always provide the highest quality healthcare to our patients,” added Griffin.
Acquiring these homecare agiencies 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 California."
CareSouth, a Medicare and Medicaid certified home healthcare agency, provides a full range of home health and private duty services in Georgia, Alabama, North Carolina, Tennessee, Texas and California. Through its highly skilled staff of RNs, LPNs, home health aides and physical and occupational therapists, CareSouth provides professional home health care to qualified homebound elderly, debilitated and recovering patients in the privacy and security of their own home, complementing the patient’s ability to maintain a self sufficient lifestyle. In addition, through its large, integrated healthcare delivery system, CareSouth provides state-of-the-art business services to other home healthcare organizations across the United States, and manages an additional 80+ 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.