One Equity Partners, a leading middle market private equity firm, today announced that its portfolio company, Simplura Health Group, a provider of home care services for elderly and disabled populations in five states, has completed the acquisition of SarahCare of Jenkintown, an independently owned home and community-based services and adult day care company. Financial terms of the private transaction were not disclosed.
Headquartered in Jenkintown, PA, SarahCare of Jenkintown provides companion services, nutrition and medication assistance, nursing, shopping, transportation, hospice, palliative care and other services. Founded in 2010, the Company also offers home health services including skilled nursing, speech therapy and social worker assistance. SarahCare of Jenkintown’s adult day center is an independently owned and operated franchised location.
“We are pleased to announce our significant expansion into the Greater Philadelphia area with the acquisition of SarahCare of Jenkintown,” said David Middleton, President and CEO of Simplura. “SarahCare of Jenkintown’s delivery of quality home care, support for its patients and caregivers, and its leading reputation in the community are highly complementary to Simplura’s mission to provide our clients with high quality home health and home care services.”
The Company will operate as a subsidiary of Simplura, which is headquartered in Valley Stream, NY.
Brad Coppens, Managing Director of OEP, said: “Simplura continues to build one of the largest and most trusted home care businesses in North America through strategic acquisitions in key regional markets. SarahCare of Jenkintown is a natural fit for Simplura’s family of companies.”
“This acquisition more than doubles the size of Simplura’s business in Pennsylvania, which currently operates under the CareGivers America brand, and meaningfully expands our presence into the Greater Philadelphia region,” said Greg Belinfanti, Senior Managing Director of OEP. “We are working hard to position Simplura as a partner of choice for managed care organizations in advance of the roll out of Community HealthChoices.”
“Our companies share a common relationship-based philosophy based on creating positive experiences between our clients and caregiver employees,” said Arsen Ustayev, CEO of SarahCare of Jenkintown. “We’re excited to join a successful, community-focused organization like Simplura that reflects our longstanding commitment to ensure our patients enjoy their lives.”
SarahCare of Jenkintown is Simplura’s fourth acquisition since OEP acquired the business when it was operating as All Metro Health Care in February 2016. Simplura acquired the home care assets of Village Care in February 2016, Multicultural Home Care, a leading provider of home care services in the Greater Boston area, in December 2016, and Independence Healthcare Corp., a provider of home care services, also in Massachusetts, in August 2017.
About One Equity Partners
OEP is a middle market private equity firm focused on the industrial, healthcare and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 150 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago and Frankfurt. For more information, please visit www.oneequity.com.
About Simplura Health Group
Simplura Health Group’s origins go back to 1955 when the founding organization – All Metro Health Care – began providing services in Long Island, NY. Since then All Metro expanded across the state of New York and acquired operations in New Jersey and Florida to become one of the largest and most respected home care companies in the country. In 2015 All Metro purchased CareGivers America in Pennsylvania; in 2016 All Metro purchased Multicultural Home Care, along with its Freedom Home Care private pay line of business, in Massachusetts and in 2017 All Metro purchased Independence Healthcare, also in Massachusetts. All of these companies are leading providers of home care services in their respective markets, supporting their clients with basic services such as providing a home maker to assist with meal preparation and light housekeeping for a few hours a day or a home health aide to provide assistance with activities of daily living to complex home nursing services provided around the clock by Registered Nurses.
