LivHOME, Inc. Acquires Continual Feast Companion Care
PITTSBURGH , PA, June 23, 2008 – LivHOME, Inc., the nation's largest provider of professionally led at-home care for seniors, recently announced the acquisition of Continual Feast Companion Care in Minneapolis, MN .
The Braff Group initiated the transaction, conducted negotiations, and served as exclusive merger and acquisition advisor for Continual Feast.
Continual Feast Companion Care, with two offices in the Twin Cities area, has provided caregiving and companion care services to seniors since 2002. The Company's philosophy is to provide seniors and families with an environment of dignity, respect and peace of mind. In 2006, Continual Feast received an OCS Vision Award for its exceptional efforts in improving quality of care and organizational performance.
The acquisition of Continual Feast Companion Care further advances LivHOME's nationwide expansion and strengthens the company's presence in the Twin Cities area, where it has maintained offices since 2004.
"The purchase of Continual Feast Companion Care represents LivHOME's second acquisition this year and our sixth since the beginning of 2007. It is another important step in our nationwide expansion and serves to further solidify LivHOME's home care footprint in Minnesota,” said Mike Nicholson, LivHOME's chief executive officer.
LivHOME is one of the most active consolidators in the senior home care industry. In January, it announced the acquisition of Long Beach, CA-based AngelCare Services. In 2007, it acquired Jackson Care Management (Houston, TX), Chicagoland Caregivers (Chicago, IL), Heritage Homecare Services (Riverside, CA) and Care at Home (Walnut Creek, CA).
Steven Braff, Managing Director of The Braff Group that led the transaction , said that “while the Medicare sector has garnered the most acquisition attention over the recent past, private duty companies like Continual Feast are increasingly drawing interest from buyers due, in part, to its insulation from government reimbursement and the risk that goes with it. With private duty poised for explosive growth, we anticipate a robust acquisition climate for private duty for the foreseeable future, a climate characterized by increased demand, transaction volume, and valuation.”
About LivHOME
LivHOME is the nation's largest provider of professionally led at-home care for seniors. The company is dedicated to finding solutions that enable older adults to remain in their homes as long as possible. Based in Los Angeles, LivHOME delivers high quality at-home care throughout California as well as select markets in Illinois, Minnesota and Texas. For more information, visit www.livhome.com.
About The Braff Group
The Braff Group is the leading investment banking firm specializing in the home health care, hospice, infusion therapy, specialty pharmacy, health care staffing, and home medical equipment market sectors. The firm provides an array of transactional advisory services including sell side representation, debt and equity recapitalizations, strategic planning, and valuation. 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 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.
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