Balance Point Capital Partners has acquired a majority stake in Practitioner Support Services, LLC (dba ProHealth Partners). ProHealth provides outsourced medical care services through a credentialed Nurse Practitioner, or equivalent Practitioner, primarily to skilled nursing and assisted living facilities within the state of Connecticut. Provident Healthcare Partners served as exclusive financial advisor to ProHealth Partners. The terms of the transaction were not disclosed.
“Under the leadership of Vincent Penry and Rose Pryor, ProHealth Partners has been able to grow its unique business model of post-acute care services throughout the state of Connecticut in a relatively short period of time. In teaming with Balance Point Capital Partners and the additional management that will be brought on, I have no doubt that the same rapid expansion will be seen across a larger geography and into complementary service lines to make ProHealth a truly regional platform,” commented Scott Davis, Senior Associate at Provident Healthcare Partners.
About ProHealth Partners
ProHealth Partners was founded in 2008 by Principal members Vincent Penry and Rose Pryor, a collaborative team with more than 40 years of collective experience in healthcare. ProHealth’s practitioners provide routine visits and care and/or episodic visits, as appropriate. ProHealth’s services create substantive benefits for the facilities that it serves, as well as for their patients. The company currently provides services in over 80 facilities. For more information, please visit www.beprohealth.com.
About Balance Point
Balance Point Capital is an alternative investment manager focused on the lower middle market. With approximately $500 million in assets under management as of December 2015, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. Balance Point takes a long-term, partnership approach to investing and is committed to building lasting relationships with its partners, management teams and intermediaries. Balance Point targets companies with EBITDA between $2 million and $25 million and typically invests $5 million to $30 million per transaction. Balance Point focuses on providing flexible and creative capital solutions to best support the future growth of its portfolio companies. Balance Point Capital Advisors, LLC (referred to herein as Balance Point Capital) is a registered investment adviser. For more information, please visit www.balancepointcapital.com.
About Provident Healthcare Partners
Provident is the leading investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation for middle-market and emerging growth healthcare companies. The firm has a vast network of high-level, senior industry contacts, a thorough knowledge of market sectors and specialties, and unsurpassed experience and insight into the M&A process. Provident uncovers value and opportunities that others often overlook to create transaction premiums for its clients. For more information visit the Provident website www.providenthp.com.
Provident Healthcare Partners
Gina Leone, Senior Analyst