| PITTSBURGH, PA January 25, 2022 InTandem Capital Partners, LLC (“InTandem Capital”), a healthcare services focused private equity firm, announced today that its affiliated funds, InTandem Capital Partners Fund II, LP and InTandem Capital Opportunities Fund, LP, have completed a growth equity investment in Providence Care (the “Company”), a leading provider of post-acute and end-of-life services in South Carolina. Financial terms of the transaction were not disclosed. The Braff Group originated the transaction and served as the exclusive mergers and acquisitions advisor to Providence Care.
“After meeting with InTandem Capital and understanding the value their team will bring to our company, the decision to partner with them was easy,” said Johnnie Garmon, Founder and Chief Growth Officer of Providence Care. “Most important to us was finding a partner that shares our belief in putting the needs of the patient’s care first and specializes in preparing and helping companies execute and accelerate on their growth. It is an honor to welcome a team of investors and operators who have deep experience and success within the broader healthcare ecosystem.” “Our investment in Providence Care aligns perfectly with our strategy and standards for partnering with high-quality healthcare companies,” said Todd Squilanti, Managing Director of InTandem Capital. “We believe in order to deliver a superior patient experience while simultaneously providing a comprehensive solution for payers, end-of-life care should include in-home integrated routine physician services, skilled nursing, palliative care and hospice services. Given their success and commitment to providing best-in-class services for patients and their families, we believe Providence Care is poised to expand throughout the U.S.” Following the close of InTandem Capital’s investment, Providence Care and InTandem Capital welcomed Larry Nabb to Providence Care as Chief Executive Officer. Larry has enjoyed numerous successes in the hospice and home care sector including most recently serving as President and Chief Operating Officer of Remita Health (formerly Health Essentials). Brad Coppens, Senior Managing Director of InTandem Capital, said, “We are excited to partner with Johnnie and the leadership team at Providence Care and we welcome Larry to the team. Providence Care’s comprehensive end-of-life service delivery model ensures a superior patient experience for the seriously ill and the opportunity to manage end-of-life care more efficiently as compared to siloed service models. We are confident our investment and operating approaches will significantly contribute to the accelerated growth of the company.”
“InTandem Capital is the perfect partner for the ‘hospital at home’ vision that the founders of Providence Care established over 11 years ago. They have the resources, experience and relationships to accelerate the mission and growth of the business throughout the south and ultimately across the country, said Mark Kulik, the Managing Director who headed up the deal team About The Braff Group
The Braff Group is the leading mergers and acquisitions advisory firm specializing exclusively in health care services, including behavioral health, home health, home care and hospice, health care staffing, home medical equipment, pharmacy services, urgent care, digital health, and ancillary health care services. The firm provides an array of sell-side only transaction advisory services including representation, debt and equity recapitalization, strategic planning, and valuation. Founded in 1998, The Braff Group has completed more than 370 transactions. According to Refinitiv, The Braff Group has repeatedly been ranked among the top 5 health care mergers & acquisitions advisory firms.
www.thebraffgroup.com The Braff Group
1665 Washington Rd
Suite 3 and 4
Pittsburgh PA 15228
412-833-5733The Braff Group
1665 Washington Rd
Suite 3 and 4
Pittsburgh PA 15228
412-833-5733 |
