Edgemont Partners Advises The Adaptive Group in its Sale to Help at Home
Edgemont closes its sixth post-acute services transaction in four months
NEW YORK, NY – January 11, 2021 – Edgemont Partners (“Edgemont”), a premier healthcare investment bank and a leading M&A and capital raising advisor, acted as exclusive financial advisor to The Adaptive Group (“Adaptive” or the “Company”) in its sale to Help at Home (“Help at Home”), a portfolio company of Centerbridge Partners, L.P. (“Centerbridge”) and The Vistria Group (“Vistria”). Winston & Strawn LLP provided legal counsel to Adaptive. Terms of the transaction, which closed on December 24, 2020, were not disclosed.
The Edgemont deal team was led by Eugene Goldenberg, Managing Director, with execution support from Vice Presidents Brandon Breslow and David Murphy, and Analysts Matt Robinson and John O’Malley. Since Mr. Goldenberg joined Edgemont last year to lead its investment banking franchise in post-acute services, distribution and staffing, the firm has closed seven post-acute care transactions.
Headquartered in Jeffersonville, Indiana, Adaptive is a leading provider of home care, home health, and hospice services with 23 locations serving patients across all 92 counties in Indiana. Co-founded by military veterans Mike Root and Nick Rossano in 2011, Adaptive has posted an impressive and consistent track record of growth in the Indiana home care market. Despite the COVID-19 pandemic, Adaptive grew rapidly in 2020, providing reliable, high-quality care to more than 1,900 home care, home health and hospice clients.
Acquiring Adaptive further solidifies Help at Home’s position as the leading personal care provider in the U.S. and largest home care provider in the state of Indiana. “The winning combination of Adaptive and Help at Home not only means that we will be able to set the bar for high-quality care and service excellence in the state of Indiana, but also throughout the Midwest and across the broader United States” said Adaptive Co-Founder, Mike Root. “By partnering with Help at Home, we are better positioned to execute on our mission – to positively impact as many lives as possible through the delivery of exceptional, patient-centric home care services. This is a great opportunity to truly make a difference as the industry leader in personal care and we look forward to making that possible for our caregivers and clients” added Adaptive Co-Founder, Nick Rossano.
About Adaptive Group
Adaptive, comprised of Adaptive Nursing and Healthcare Services, Adaptive Companion Services, and Adaptive Hospice, is a market-leading provider of non-medical personal home care services, home health services, and hospice end-of-life care services in Indiana. Founded in 2011 by Mike Root and Nick Rossano, Adaptive has grown to 23 locations across the state, serving more than 1,900 clients through its team of 1,800+ direct care employees and administrative staff. For more information, please visit www.adaptivegroup.com.
About Help at Home
Founded in 1975, Help at Home is a leading U.S. home care provider delivering in-home care to seniors and persons with disabilities. Headquartered in Chicago, Illinois, the company provides home and community-based services in 13 states: Alabama, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Mississippi, Missouri, Pennsylvania, South Carolina, and Tennessee. Help at Home has a long history of providing quality care to more than 50,000 clients in 160 locations by its team of dedicated caregivers and administrative employees. For more information, please visit www.helpathome.com.
About Edgemont Partners
Now in its 20th year, Edgemont ranks among the most active and best performing independent healthcare M&A and financial advisors in the U.S. We focus solely on providing expert strategic advice and transaction execution to healthcare and life sciences companies, bringing a steadfast commitment to our clients, driven always to prioritize their best interests. Edgemont’s principals have executed 170+ transactions with an aggregate value of $65 billion+.
For more information on Edgemont and how we can best serve you, contact Ben Hughes at +1 (646) 632-3967, or visit our website at www.edgemont.com.
Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member of FINRA and SIPC.