Home Solutions Announces Acquisition of Infusion Network of the Cape and Islands
PITTSBURGH, PA, May 5, 2008 -- Home Solutions announced that it had acquired Infusion Network of the Cape and Islands (INCI), located in Falmouth, Massachusetts. INCI has a long history of providing home infusion services in the Cape Cod region and surrounding communities. Home Solutions will operate two full service infusion pharmacies in Massachusetts. They will build upon the existing Falmouth location and are expanding into the greater Boston area.
The Braff Group initiated the transaction, conducted negotiations, and served as exclusive merger and acquisition advisor for Infusion Network of the Cape and Islands.
"Infusion Network is well known in Massachusetts and has been providing a very high level of service for many years. I have been very impressed with their dedication to clinical excellence and patient care. We are very pleased to have them as part of the Home Solutions family,” said Todd Timbrook , Home Solutions Chief Executive. “INCI fits well within the Home Solutions service model in providing a personalized approach to patient care.”
“It was extremely important for me to find a company like Home Solutions that had the same mission and vision as my company,” said Paul Dussault, INCI's President. “Our employees are happy to be part of a larger organization with similar values.”
Reg Blackburn, Managing Director for The Braff Group, who led the transaction, added, “With Home Solutions being a portfolio company of Flexpoint Partners, a Chicago based private equity group, this transaction further demonstrates the extraordinary surge in private equity sponsored activity in home infusion therapy. According to Braff Group research, while the investment community paid scant attention to the sector through 2005, private equity began targeting infusion in earnest in 2006 and accounted for 52% of the record 25 infusion therapy deals completed in 2007. We expect this trend to continue in 2008.”
About INCI
INCI was founded in 1995, by Paul Dussault, BS, RPh, for the purpose of providing a more personalized and comprehensive scope of quality home infusion services. INCI is staffed with nationally certified intravenous specialists experienced in providing care for the patient in the home or alternate site. INCI serves the greater Cape Cod area and surrounding Islands.
About Home Solutions
Home Solutions, established in 1996, is one of the largest privately held providers of home infusion services in the Northeast and Mid-Atlantic Regions. They have particular expertise in providing complex therapies such as cardiac care, TPN, intravenous immunoglobulin (IVIG), pain management, and pediatrics. Home Solutions has several pharmacies servicing Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Pennsylvania, Delaware, and Maryland.
About The Braff Group
The Braff Group is a leading middle market merger and acquisition firm that specializes in the home health care, hospice, infusion therapy, specialty pharmacy, health care staffing, and home medical equipment market sectors. The firm provides merger and acquisition representation, strategic planning, and valuation services. Since being founded in 1998, The Braff Group has completed more than 115 transactions. In 2006, the firm was awarded Healthcare Deal of the Year by the M&A Advisor, a leading publication dedicated to middle market merger and acquisition activity, for its representation of Canadian Valley Medical Solutions – the third consecutive year The Braff Group has received this award. The firm was also recognized as a finalist for Boutique Investment Banking Firm of the Year in 2005, 2006 and 2007. Additionally, the firm has been honored as one of the fastest growing companies in the Pittsburgh Region by the Pittsburgh Business Times.
Contact:
The Braff Group
Dexter W. Braff
888-922-5169
