Tucson, Ariz.-based VERTESS, an international M&A firm that exclusively provides advisory and consultation services to healthcare and human service organizations, has completed four major healthcare transactions.
Here are five things to know about the deals.
1. VERTESS represented Noble Care Corp., a Tucson-based provider of community-based residential services to adults with mental illness and cognitive disabilities in a transaction last year. Noble Care was acquired by ResCare, a $2 billion entity that provides healthcare and human services, in December.
2. In 2015, VERTESS represented Prescott Vly, Ariz.-based Agape Homes, a specialty provider of residential treatment services for individuals with severe disabilities, in another acquisition by ResCare.
3. Additionally, VERTESS represented two durable medical equipment companies, Legacy Oxygen, a Paducah, Ky.-based company with $3.5 million annual revenue, and Lafayette, La.-based Sleep Management, a company with $45 million annualized revenue and operations in 19 states. Both companies were acquired by Patient Home Monitoring, a healthcare company with $200 million annualized revenue.
4. In a prepared statement, Bradley Smith, the VERTESS Managing Director/Partner who represented both Legacy Oxygen and Sleep Management in their transactions, said of the deals, "We exceeded our goals for M&A activity in 2015. We look forward to finding even more opportunities for sellers and buyers in 2016."
5. Tom Schramski, PhD, founder and managing partner of VERTESS, added, "Our company will continue to grow rapidly in 2016, given our executive healthcare track record and our ability to identify with the goals of diverse healthcare business owners. We have a strong pipeline in place this year and are gratified by the value we will bring to our clients."
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