OMNI Home Care Acquires Certain Assets of Homecare Solutions Group
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OMNI Home Care Expands Employee Base and Market Share
CORAL SPRINGS, Fla.--(Business Wire)--
OMNI Home Care ("OMNI") announced today that it has acquired certain assets of
Homecare Solutions Group based in Boynton Beach, Florida. This expands OMNI Home
Care`s market share as well as its position as one of the largest Medicare Home
Health providers serving the state of Florida.
This transaction marks OMNI`s first acquisition since its partnership with the
Goldman Sachs Urban Investment Group and MBF Healthcare Partners in 2008. The
private equity groups invested in OMNI as an opportunity to benefit from
favorable demographic trends and through rapid organic and synergistic
acquisition growth.
Through the acquisition, OMNI Home Care will add more than 140 full time and per
diem employees which brings more clinical and administrative talent to OMNI`s
already impressive 1,200 employee workforce.
This is an excellent addition to our business for many reasons," said Fred
Portnoy, President and Chief Executive Officer of OMNI Home Care. "This
transaction perpetuates OMNI`s strategic plan of acquiring businesses that have
strengths and alignment in operational and service excellence, as well as strong
financial performance" adds Portnoy.
Tracy Clark Executive Vice President of Corporate Development stated, "This
addition will more than double our market share in Southeast Florida. We have
now found a significant opportunity in this region and will continue to grow our
business at a steady and methodical pace across the country."
Terms of the acquisition were not disclosed. The transaction was financed with
proceeds from OMNI`s lenders and the investor group.
ABOUT OMNI HOME CARE
OMNI Home Care was founded in 2002 and since has grown to include more than 33
offices in Florida, Pennsylvania, Ohio, Illinois and Indiana. OMNI Home Care is
a certified Medicare home health provider offering exceptional services such as
skilled nursing, physical, occupational and speech therapy, medical social work
and home health aides. OMNI Home Care has more than 1200 employees, with
corporate offices in Coral Springs, Florida. OMNI Home Care was acquired by MBF
Healthcare Partners and the Goldman Sachs Urban Investment Group in 2008.
ABOUT HOMECARE SOLUTIONS GROUP
Homecare Solutions Group is a home health provider serving, on average, more
than 400 patients a day. Founded in 1991, Homecare Solutions Group is owned by
Nurse Connection, Inc.
For more information:
OMNI Home Care
Tracy Clark, 954-753-4883
Executive Vice President of Corporate Development
tclark@omnihha.com
Copyright Business Wire 2009
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