Varsity Healthcare Partners Completes Partnership with Angels of Care Pediatric Home Health
PITTSBURGH, April 29, 2019 — Varsity Healthcare Partners, a leading lower middle-market private equity firm focused on healthcare services, announced today the completion of a growth equity investment in Angels of Care, a leading and rapidly growing provider of home health services to pediatric patients with complex medical conditions.
The Braff Group originated the transaction and served as the exclusive mergers and acquisitions advisor to Angels of Care.
The partnership with Varsity will provide Angels of Care with strategic guidance and capital to support its continued rapid growth, both organically and through acquisitions. The current management team, including Jessica Riggs as CEO, will continue in their leadership roles.
Jessica Riggs said, “I am thrilled to partner with Varsity which will support our mission to provide high-quality compassionate care to the under-served pediatric population with complex medical needs. We were extremely impressed with Varsity’s deep knowledge, expertise, relationships and successful track record in healthcare, specifically with home health providers including pediatrics. Just as importantly, Varsity understood the value of our differentiated approach and organizational culture and shared our fundamental commitment to delivering excellent patient care.”
“During the past few years, various investors have keenly noted the numerous clinical, emotional, social, and economic benefits of in-home specialized pediatric care for medically fragile children. Accordingly, Angels of Care attracted a robust level of attention as a very large and clinically superior regional provider. Angel’s CEO Jessica Riggs, now with the support of Varsity Healthcare Partners, has the opportunity to accelerate its growth and further distinguish its HALO service on a national basis,” stated Mark Kulik, Managing Director who headed up The Braff Group deal team.