NexPhase Capital, LP (“NexPhase”) announced today the successful acquisition of SYNERGY HomeCare (“the Company”), a franchisor of in-home senior care services headquartered in Gilbert, Arizona, effective April 2, 2018. NexPhase Operating Partner, Barbara B. Hill, has joined SYNERGY HomeCare as Chairperson of the Board following the acquisition.
NexPhase’s acquisition comes at a time of tremendous growth for SYNERGY HomeCare. In-home senior care services provide a less expensive alternative to traditional nursing homes and inpatient facilities and continue to be an increasingly popular choice among the nation’s aging population. SYNERGY HomeCare is one of the largest franchisors of in-home care services with approximately 140 franchisees operating in more than 300 franchise locations nationwide. The Company provides a range of services to those in need, including non-medical personal care, companion care, and specialized care for individuals who are physically or developmentally disabled, living with chronic health conditions, or recovering from illness or surgery.
“SYNERGY HomeCare has a tremendous amount of growth potential and we will focus on providing increased access to the Company’s services across the country and exceptional care to those in need within the comfort of their own homes,” said SYNERGY HomeCare Board Chairperson Barbara B. Hill.
Hill brings a broad base of industry knowledge from a 30-year career in insurance, managed care and provider organizations. She has served in top executive roles at Express Scripts, CIGNA Healthcare, Rush Prudential Health Plans and Aetna Health Plans. As an Operating Partner for NexPhase, Hill has helped multiple healthcare organizations with strategy formulation, organizational development and operational excellence.
“NexPhase is the ideal partner for our organization and shares our vision for the future of this growing business,” said founder and CEO of SYNERGY HomeCare, Peter Tourian. “The partnership and addition of Barbara to our board provides us with unparalleled and strategic management expertise. We believe this transaction provides a phenomenal opportunity to bring our care and service to even more clients.”
Andy Kieffer, Partner at NexPhase, added, “We are very excited to be investing in SYNERGY HomeCare and continuing to grow the reach of the business. Peter and his team have built a tremendous service that fits our existing healthcare investment strategy of growing exceptional organizations that provide lower cost settings and more alternatives to the aging population and those generally in need of care.”
SYNERGY HomeCare is the latest healthcare investment for NexPhase, following closely behind the firm’s acquisition of Gulf Coast Pain Institute and formation of a new national interventional pain management platform named Clearway Pain Solutions Institute.
Livingstone acted as exclusive financial advisor to SYNERGY HomeCare.
About SYNERGY HomeCare
With over 15 years of brand equity, SYNERGY HomeCare is one of the largest franchisors of in-home senior care services with approximately 140 franchisees operating in more than 300 franchise locations nationwide. The Company provides a range of services to the senior population including non-medical personal care, companion care, and specialized care for individuals who are physically or developmentally disabled, living with chronic health conditions or recovering from illness or surgery.
About NexPhase Capital
NexPhase Capital is an operationally-focused independent private equity firm that makes equity investments between $25 million and $75 million in lower middle market growth-oriented companies in the consumer, healthcare, industrial services and software sectors. The firm was formed by the former principals of Moelis Capital Partners (MCP) to execute, on an independent basis, the same operationally-focused strategy of completing control investments in lower middle market companies to create value through dedicated operating resources, new sales channels and effective partnerships. Led by Co-Managing Partners Kurt Larsen and Ted Yun, NexPhase advises $1.2B of private equity capital, and maintains a strategic sub-advising relationship with Moelis Asset Management. For more information, please visit www.NexPhase.com.