NEW YORK--(BUSINESS WIRE)--Today, Great Lakes Caring, National Home Health Care, and Jordan Health Services announced a merger that will strategically position the newly combined company as one of the nation’s largest providers of home-based care. The new company brings together three market leaders, creating a comprehensive care continuum of personal care, skilled home health, and hospice care.
The newly combined company will serve over 63,000 patients and their families on a daily basis, employing over 31,000 caregivers across 15 states in 221 locations. The company will retain corporate headquarters in Michigan, Connecticut and Texas, and operate in service lines. G. Scott Herman, CEO of National Home Health Care, has been named Enterprise CEO; Adam Nielsen, CEO of Great Lakes Caring, has been named CEO of Home Health and Hospice; and Jeffrey Fisher, CEO of Jordan Health Services, will lead the company’s continued acquisition efforts as Chief Development Officer.
“We are very excited about the opportunity to deliver coordinated continuum-based home care and serve patients in a holistic manner. The combined companies bring together best in class technology, market leading quality and a differentiated care model that clearly sets us apart,” said G. Scott Herman, Enterprise CEO. “As a combined entity, we are exceptionally well-positioned for long term success, particularly as healthcare moves toward population-based health management and outcomes-based performance.”
The combined assets of Great Lakes Caring, National Home Health, and Jordan Health Services will be leveraged to create one of the most technologically advanced platforms in the country, significantly improving clinical outcomes and enhancing the patient experience. The company’s scale and geographic reach will provide security, mobility, and career opportunities for more than 31,000 employees and caregivers. Over the course of the next few years, the company will continue to roll out continuum service offerings including personal care, skilled home healthcare, and hospice care throughout existing and new geographies.
Adam Nielsen, CEO of Home Health and Hospice, added, “Quality remains central to the care we provide to the patients we serve, as we seek to provide care at the right time in the right place. With market-leading care in the Northeast, Midwest, and Southwest, the combined company will serve as one of the country’s largest home healthcare employers, enhancing our opportunities to reinvest into the careers of our employees.”
“For over four decades, Jordan has established a track record of success and this tradition of excellence will continue as the company embarks on this exciting new chapter, which will increase our national footprint and improve care for patients nationwide,” said Jeffrey Fisher, Chief Development Officer.
The transaction also brings together two leading private equity partners who are committed to retaining and enhancing the culture of quality care at the companies. Blue Wolf Capital Partners has been an investor in National Home Health Care and Great Lakes Caring for the past two years. Kelso & Company has joined forces with Blue Wolf to facilitate the addition of Jordan Health Services to the National Home Health Care and Great Lakes Caring continuum. Blue Wolf and Kelso will acquire Jordan Health Services from Palladium Equity Partners, LLC.
“By bringing together the strengths and resources of National Home Health Care, Great Lakes Caring, and Jordan, we are creating a transformative and patient-centric, leading home health company,” said Adam Blumenthal, Managing Partner of Blue Wolf. “The growth opportunities for this integrated entity are significant.”
“We believe the healthcare industry continues to look to high-quality, cost efficient providers as a solution to rising healthcare costs,” said Church Moore, Managing Director of Kelso & Company. “The combination brings together three organizations that are positioned to deliver that solution and we look forward to investing in the entire management team to do so.”
About National Home Health Care
National Home Health Care Corp., through its four operating subsidiaries, is a provider of home health care services, including nursing care, personal care and other specialized health services in the Northeastern part of the United States. For additional information, please visit www.nhhc.net.
About Great Lakes Caring
Great Lakes Caring Home Health and Hospice is one of the nation’s leading providers of a continuum of home health and hospice care. Great Lakes Caring dedicates its resources to providing value-based, high quality care wherever our patients call home. Great Lakes Caring’s primary focus is to provide superior quality health care to those we are honored to serve, utilizing state-of-the-art technology and innovative processes which drive extraordinary patient outcomes. With locations across the country, Great Lakes Caring provides the right care, at the right time, in the right place. Great Lakes Caring is committed to being a great place to work for employees and is the recipient of Fortune Magazine’s Best Workplaces in Healthcare and Best Workplaces for Millennials awards, in addition to being recognized as a National Best and Brightest Company to Work For. www.GreatLakesCaring.com
About Jordan Health Services
Founded in 1975 and based in Dallas, Texas, Jordan Health Services (www.jhsi.com) is one of the nation’s largest home care providers. With its unique blend of services including personal care, case management, skilled nursing, therapy, and hospice services, Jordan’s team of highly skilled and dedicated professionals provide care to approximately 37,000 patients throughout the states of Texas, Oklahoma, Arkansas, and Louisiana.
About Blue Wolf Capital Partners LLC
Blue Wolf Capital Partners LLC is a private equity firm that specializes in control investments in middle market companies. Leading by experience, and with a commitment to excellence, Blue Wolf transforms companies strategically, operationally and collaboratively. Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators to build value for stakeholders. For additional information, please visit www.bluewolfcapital.com.
About Kelso & Company
Kelso has been investing in private equity for over 35 years. Kelso’s industry-leading alignment of interest and partnership approach date back to its founder, Louis Kelso, who is commonly referred to as the inventor of the Employee Stock Ownership Plan (or ESOP). Kelso benefits from a successful investment track record, a long-tenured and stable investing team, and a reputation as a preferred partner to management teams and corporates. Since 1980, Kelso has raised a total of nine private equity funds, representing approximately $12 billion of capital, and has made more than 120 investments. For more information about Kelso, please visit the firm’s website at www.kelso.com.