Choice Health at Home Closes New $190M Credit Facility in Connection With Multiple Acquisitions

Choice Health at Home Closes Acquisitions of Kindful Hospice and A*Med Home Health and Hospice Alongside New $190M Credit Facility

Choice Health at Home, LLC ("Choice"), the Texas-based multi-state provider of home health, hospice, and rehabilitation services, announced today the acquisitions of Kindful Hospice ("Kindful") and A*Med Home Health and Hospice ("A*Med"). Kindful has six locations in Oklahoma and Kansas, and A*Med has eight locations in Texas.

Alongside the transactions, Choice also announced the closing of a new $190 million credit facility led by Oxford Finance LLC ("Oxford"), a leading specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide. AB Private Credit Investors and Maranon Capital served as co-syndication agents.

Kindful and A*Med will strengthen Choice's hospice and home health care footprint in Texas, Oklahoma, and Kansas. The new committed financing will support the Company in capitalizing on its acquisition strategy along with other growth and expansion opportunities. 

David Jackson, Founder and CEO of Choice Health at Home, said, "I am very proud of this vote of confidence by Oxford Finance, AllianceBernstein, and Maranon Capital. The mission of Choice is to provide a full continuum of post-acute healthcare at home. This facility will allow our company to significantly expand the scope and reach of those services."

Trina Lanier, COO of Choice and Co-founder of the hospice and home health service lines, emphasized how the acquisitions significantly contribute to the company's service capabilities: "This was an outstanding operational move, bringing us some great people. Kindful has built an exceptional statewide reputation and, in concert with additional organic expansion plans, gives Choice the capability of providing hospice services to approximately 90% of the state of Oklahoma by year-end 2022."

Jackson commented further: "A*Med  brings some of the most respected clinicians on the Texas Gulf Coast with a history of service to the most critical post-acute patients.  The complement to the Choice Texas service area is outstanding and creates an extensive expansion of market share in both home health and hospice."

In 2021, Choice entered the Oklahoma market through a series of acquisitions including multi-site organizations Restore Home Health, Alpha Home Health and Hospice, and Angelic Hospice of Shawnee. The Company has provided home health services in Texas since 2012 and hospice services since 2018, and the A*Med transaction contributes significantly to the Company's clinical reach in each service line.

Choice executed nine transactions in 2021 and continues to be acquisitive in the Southwestern United States. Carl Ganter, VP of Business Development, spoke to the acquisitions and this initiative: "(A*Med and Kindful) are so complementary to our overall goal of providing the full continuum of home-based care for our patients. We are very interested in businesses that meet those needs, and the regional focus allows us to develop quality."

Jackson closed the announcement with a look to the future, adding, "The healthcare industry, like so many others, has been significantly challenging over the past two years. Choice is so excited to welcome both organizations. The outlook for 2022 is exciting and will provide growth opportunities for our business and, most importantly, our employees."

About Choice Health at Home

Choice corporate headquarters are located in Tyler, TX, and the company currently operates in Texas, Louisiana, Kansas, and Oklahoma. Choice was founded in 2008 as a rehabilitation service provider, entered home health in late 2012, and launched their hospice segment in 2018. In 2020, Choice partnered with Trive Capital and Coltala Holdings in a shared vision of expansion for the post-acute company. For more information on Choice, please visit choicehealthathome.com.

About Trive Capital
Trive Capital is a Dallas, Texas-based private equity firm with approximately $3.6 billion in assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive's targeted industry sectors and situations.

About Coltala Holdings
Coltala Holdings is a DFW-based holding company focused on building businesses of significance, with a passion for operational excellence, continuous improvement, and authentic and principled business stewardship.

About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $7 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas. For more information, visit https://oxfordfinance.com/

About AB Private Credit

AB Private Credit Investors is the corporate middle market direct lending platform of AllianceBernstein. We provide flexible financing solutions to corporate borrowers and manage capital for a diversified group of institutional and high-net-worth investors.

About Maranon Capital
Maranon Capital, L.P. is an investment firm focused on directly originated private credit. Maranon's competitive edge is its multi-product strategies that span the balance sheet with value-added financing and equity co-investments. Since 2008, Maranon has committed over $9.2 billion of capital. For more information, visit www.MaranonCapital.com.

Contact: Trina Lanier, COO, trina.lanier@choicetx.com

Source: Choice Health at Home

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Categories: Mergers and Acquisitions, Hospitals and Clinics, Healthcare and Medical News, Healthcare

Tags: Continuum of Care, culture, Healthcare, Home Health, Hospice, hospital to home, rehabilitation


About Choice Homecare & Hospice

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Choice is a leading provider of home health and hospice services, Choice offers skilled nursing, therapy services, and both physical and spiritual end of life care.

Choice Homecare & Hospice
6760 Old Jacksonville Highway Suite101
Tyler, TX 75703
United States