Varsity Healthcare Partners Completes Sale of Angels of Care

STAMFORD, Conn.--(BUSINESS WIRE)--Varsity Healthcare Partners (“VHP”), a healthcare-focused private equity investment firm, announced today the close of its sale of Angels of Care (“AOC” or the “Company”) to Nautic Partners. Terms of the transaction were not disclosed.

Angels of Care, headquartered in McKinney TX, is a leading provider of comprehensive home health services to pediatric patients with complex medical conditions. VHP acquired a majority stake in AOC in April 2019 and, during the course of its investment, partnered with the management team to rapidly expand the Company’s geographic service area from two states to seven and grow into one of the largest pediatric home healthcare providers in the nation. The Company also has been a pioneer in partnering with managed care firms to provide its services under outcomes-based reimbursement arrangements, facilitating the delivery of exceptional and cost-effective care.

“I am extremely grateful to the entire VHP team for their extensive capital, operational and strategic support, which was instrumental in enhancing the growth and success of AOC during our partnership,” said Jessica Riggs, Chief Executive Officer.

ABOUT ANGELS OF CARE

Founded in 2000, AOC provides long-term, continuous skilled care to medically complex children and young adults. Angels of Care was born out of a vision to provide high-quality care in a loving, caring, and professional manner. At the center of its operations, is its HALOS culture (Heart, Advocacy, Love, Outreach, Speed), that places its clients and employees at the heart of everything they do. AOC provides private duty nursing, therapy, CNA, LHA, PPEC, attendant care, and DME services across Texas, Colorado, Arizona, Florida, South Carolina, North Carolina, and Pennsylvania. www.angelsofcare.com.

ABOUT VARSITY HEALTHCARE PARTNERS

Varsity Healthcare Partners is a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading healthcare services companies. VHP’s collaborative partnership approach involves driving significant operational and managerial enhancement early in the life of each platform investment followed by the execution of an aggressive and multidimensional growth plan. The investment team is supported by a highly differentiated Operating Partner program consisting of dedicated healthcare executives across all major functional operating areas. As such, VHP is able to provide exceptional strategic and operational support necessary to maximize the performance and success of each platform investment. VHP is committed to true partnerships emphasizing core values based on transparency, respect and accountability. www.varsityhealthcarepartners.com.