Industry News • August 9, 2017
All Metro Health Care, a portfolio company of One Equity Partners, has closed its buy of Independence Healthcare Corp. Financial terms weren’t announced. Independence Health, of Worcester, Massachusetts, provides non-medical home healthcare services.
NEW YORK – AUGUST 9, 2017 – One Equity Partners, a middle market private equity firm, today announced that its portfolio company, All Metro Health Care (“All Metro”), has completed the acquisition of Independence Healthcare Corp. (“Independence” or “the Company”), a provider of non-medical home healthcare services. Terms of the private transaction were not disclosed.
Headquartered in Worcester, Mass., Independence’s caregiver employees provide a range of homecare services including meal preparation, assistance with personal care, companion care, and transportation to seniors. Independence has provided high quality care giving, improved quality of life and assistance services to an aging population in Central Massachusetts since its founding in 2003.
“We are excited to welcome Independence to the All Metro family,” said David Middleton, President and CEO of All Metro. “We saw in Independence an opportunity to extend our service offering into Central Massachusetts, and leverage the strong brand recognition Independence has achieved in that market.”
Independence will operate as a subsidiary of Multicultural Home Care, a Lynn, Massachusetts-based subsidiary of All Metro, which is headquartered in Valley Stream, N.Y. Elaine Sullivan, Director of Operations at the Company, will retain her title and report to Carolyn McCarthy, President of Multicultural Home Care.
“Independence has an excellent reputation for its high quality services and unwavering support to its clients, so we are excited that Elaine and her team are joining All Metro,” said Greg Belinfanti, Senior Managing Director of One Equity Partners. “We look forward to working closely with Carolyn, Elaine and the team at Independence as All Metro further expands its range of personal home care services in Central Massachusetts through this strategic acquisition.”
This is the second acquisition All Metro has made since One Equity Partners acquired a controlling stake in the business in February 2016. All Metro’s previous acquisition was the purchase of Multicultural Home Care (“Multicultural”), a leading provider of home healthcare services in the Greater Boston area, in December 2016.
With this acquisition, All Metro has 12 branch offices located in New York, 16 in Pennsylvania, five in Massachusetts, two in New Jersey, and two in Florida.
“We are excited to join with All Metro as they continue to serve seniors across Massachusetts with the same high quality, premium home care services that Independence has provided our clients over the last 14 years,” said Sullivan.
This article originally appeared in an article on PE Hub Netowrk.