Industry News • May 9, 2018
Simplura Health Group, a portfolio company of One Equity Partners, has completed its buy of Keystone In-Home Care. Financial terms weren’t announced. Keystone, of Lancaster, Pennsylvania, provides in-residence care services for seniors and the disabled who reside in Pennsylvania’s Lebanon, Lancaster, York, Cumberland, Adams and Dauphin counties.
NEW YORK – MAY 9, 2018 – One Equity Partners (“OEP”), a leading middle market private equity firm, today announced that its portfolio company, Simplura Health Group (“Simplura”), a provider of high- quality care services for elderly and disabled populations in five states, has completed the acquisition of Keystone In-Home Care (“Keystone” or “the Company”). Financial terms of the private transaction were not disclosed.
Headquartered in Lancaster, PA, Keystone is an independent provider of customized, in-residence care services for seniors and the disabled who reside in Pennsylvania’s Lebanon, Lancaster, York, Cumberland, Adams and Dauphin counties. The Company provides a wide range of services including companion living, housekeeping, meal preparation and transportation.
“Keystone is well-known for its world class care services in the communities of Central Pennsylvania,” said David Middleton, President and CEO of Simplura. “We are excited that President Maggie Gross and her team have joined Simplura to continue providing the same compassionate care giving services that Simplura provides to our clients.”
Keystone will become part of CareGivers America, the brand name under which the Pennsylvania operations of Simplura operates.
“Keystone’s approach to training its professional caregivers is well aligned with Simplura’s ‘Better Together’ philosophy that supports improving the quality of life and well-being for their clients and 11,000 team members alike,” said Greg Belinfanti, Senior Managing Director at OEP.
Brad Coppens, Managing Director at OEP, added: “Simplura offers affordable care with unmatched service delivery, and Keystone is an excellent addition to its roster of companies that are widely known for providing innovative solutions that drive positive outcomes.”
“We’re thrilled to join Simplura’s large and fast-growing family of residential health care agencies,” said Gross. “We look forward to teaming up with Dave and his experienced team who share our dedication to compassionate care.”
Keystone is the fifth acquisition Simplura has made under OEP’s ownership of the business. Formerly known as All Metro Health Care before it rebranded as Simplura in January 2018, the Company 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, and its Freedom Home Care business in December 2016; Independence Healthcare Corp., a provider of home care services, also in Massachusetts, in August 2017, and SarahCare of Jenkintown, PA., in February 2018.