Lancaster Home Healthcare Company is Acquired
October 30, 2002
FOR IMMEDIATE RELEASE
ARLINGTON, VA--Capitol Partners, one of the Mid-Atlantic region's premier
private equity firms, has announced the acquisition
of Advantage Home Health from Lancaster Community Hospital through its portfolio platform company CareSouth Health System. CareSouth plans to use the Lancaster, CA-headquartered home healthcare agency, which has changed its name to CareSouth, as a base to establish a larger presence in the state. The office will serve the Los Angeles county.
Rick Griffin, CareSouth's CEO, states,"CareSouth and Advantage 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 Advantage is in line with the strategic growth efforts of CareSouth. The company is broadening its geographical reach. According to T.J. Jubeir, managing partner of the private equity firm "This acquisition continues to build upon our established homecare foundation and establishes for us a foothold in one of the largest homecare markets in the nation."
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, certified home health agency locations in Georgia, Alabama, North Carolina, Tennessee, Texas and now California. CareSouth also manages over 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.