Industry News • December 13, 2016
All Metro Health Care, which is backed by One Equity Partners, has acquired Lynn, Massachusetts-based Multicultural Home Care, a provider of home healthcare services. No financial terms were disclosed.
NEW YORK – DECEMBER 13, 2016 – One Equity Partners, a middle market private equity firm, today announced that its portfolio company, All Metro Health Care (“All Metro”), has completed its acquisition of Multicultural Home Care (“Multicultural”), a leading provider of home healthcare services in the Greater Boston area. Terms of the private transaction were not disclosed.
Headquartered in Lynn, Mass., Multicultural’s professional staff provides home health, nursing, and caretaker services to seniors living in the Merrimack Valley, South Shore and North Shore areas around Boston, including its diverse ethnic communities. The company, founded in 1995, is comprised of three business lines – Home Care, Home Health and Private Pay – with staffing professionals who speak eight languages. Multicultural will operate as a division of All Metro.
“Multicultural is one of the largest providers in the fragmented home healthcare marketplace in Massachusetts, where we see significant upside potential for All Metro to further expand its breadth of home care services and have a positive impact on beneficiaries in a new geography,” said Brad Coppens, Managing Director at One Equity Partners. “This acquisition is consistent with our objective of building and growing the All Metro platform through strategic combinations. In purchasing Multicultural, we’ve partnered with its exceptional management team to combine All Metro’s best practices with capital support to further expand in the Massachusetts market at a time when home and community-based services are expected to increase in Massachusetts.”
David Middleton, President and CEO of All Metro, said: “The addition of Multicultural is another important step in the key strategic initiatives that we’ve undertaken this year to grow our business and offer programs that improve patient care, quality of life and reduce overall costs for the healthcare system.”
“We are excited to join with All Metro Health Care as we continue to provide seniors in Massachusetts with the same high quality home care services that they’ve come to expect from us for the last 21 years,” added Carolyn McCarthy, CEO of Multicultural Home Care, who will remain with the company as President, Multicultural Home Care.
This article originally appeared in an article on PE Hub Network.