PITTSBURGH, February 28, 2018 — Seven Hills Capital, LLC (“Seven Hills”) is pleased to announce that it has formed VersiCare Group through a partnership with Bower Management Services (ExpertCare)’s senior management team.
The Braff Group originated the transaction and served as the exclusive mergers and acquisitions advisor to Bower Management Services.
ExpertCare is the leading provider of supported living and therapy services for individuals with intellectual and developmental disabilities in Michigan. VersiCare aims to expand ExpertCare’s strong reputation throughout the Midwest through county expansion and acquisitions.
Seven Hills is proud to partner with ExpertCare’s CEO Lauren Sclesky, who has led the Company’s impressive growth for the past 21 years. Lauren will serve as VersiCare’s CEO, guiding the Company’s ambitious growth plans. In addition to her role as CEO, Lauren will serve on VersiCare’s Board and is a valued investor in the Company.
“We are tremendously proud of what our team has built to date and appreciate the trust our clients and families have put in us. We believe Seven Hills is the ideal partner to help facilitate our next phase of transformational growth and shares our commitment to leading quality supported living services, operational excellence, and a strong culture,” said Lauren Sclesky.
“A few short years ago, acquisition interest in supported living and therapy services for the I/DD population was limited to just a few strategic buyers,” commented Nancy Weisling, The Braff Group Managing Director for Behavioral Health that headed up the deal team representing Bower. “But heightened investment interest in autism spectrum disorders (ASD) has had a side effect of drawing investors into the supported living space, an adjacent market that shares the annuity-like revenue streams of ASD. Not surprisingly, we are beginning to see buyers combine these segments to offer a more comprehensive and seamless array of service and treatment options where they naturally overlap.”
“We could not be more excited to partner with Lauren and Karen, and the rest of the ExpertCare team and look forward to growing one of the leading I/DD providers in the Midwest, while providing the highest level of care to our clients,” said Matthew Pettit, Partner at Seven Hills and Board Member of VersiCare. “We are confident the industry trends will continue to support expansion, thereby enhancing client access and creating additional opportunities for our team members.”
VersiCare plans to immediately enter contingent counties and be highly inquisitive while pursuing strategic I/DD acquisitions across the Midwest. “We believe VersiCare’s best-in-class infrastructure and operational base will allow us to be the preferred partner for I/DD and complementary providers seeking a strategic partner,” added Brenton Clark Partner at Seven Hills Capital and VersiCare Board Member.
About Seven Hills Capital
Seven Hills Capital is an operator-centric private equity platform, focused exclusively on opportunities within healthcare services. Founded by former operators, Seven Hills believes in building long-term businesses through collaboration with all stakeholders. Seven Hills has identified an opportunity to invest in smaller health care service opportunities often overlooked by larger sponsors.
About The Braff Group
The Braff Group is the leading health care services mergers and acquisitions advisory firm with a team of industry professionals focused exclusively on behavioral health care, including substance use disorder, mental health, autism services, I/DD, telepsychiatry, and acquired brain injury.
Celebrating our 20-year anniversary, The Braff Group has completed more than 300 transactions. According to Thomson Reuters, The Braff Group has repeatedly been ranked as the #1 health care mergers and acquisitions advisory firm.