April 25, 2019
STAMFORD, Conn. & LOS ANGELES — April 25, 2019 — Varsity Healthcare Partners, a leading lower middle-market private equity firm focused on healthcare services, announced today the completion of a growth equity investment in Angels of Care, a leading and rapidly growing provider of home health services to pediatric patients with complex medical conditions.
The partnership with Varsity will provide Angels of Care with strategic guidance and capital to support its continued rapid growth, both organically and through acquisitions. The current management team, including Jessica Riggs as CEO, will continue in their leadership roles.
Jessica Riggs said: “I am thrilled to partner with Varsity which will support our mission to provide high-quality compassionate care to the underserved pediatric population with complex medical needs. We were extremely impressed with Varsity’s deep knowledge, expertise, relationships and successful track record in healthcare, specifically with home health providers including pediatrics. Just as importantly, Varsity understood the value of our differentiated approach and organizational culture and shared our fundamental commitment to delivering excellent patient care.”
Terms of the transaction were not disclosed.
About Angels of Care
Founded in 2000 by Bonnie West and based in Sherman, TX, Angels of Care is a leading provider of long-term home health services to pediatric patients with complex medical conditions and employs over 3,000 clinicians across 18 locations. The company provides high-quality private duty nursing care, skilled therapy, and other home health services to patients in Texas and Colorado. Angels of Care operates under its core principles of Heart, Advocacy, Love, and Outreach (HALO) to carry out its mission to provide children and young adults in need with high-quality home health care in a loving, caring and professional manner. For more information please visit: 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. Varsity has been successful in developing and executing a tailored value creation plan, in partnership with the leadership of each company, that typically emphasizes an appropriate investment in infrastructure followed by an aggressive organic and acquisition growth strategy. Varsity draws upon its extensive healthcare industry experience and relationships, as well as its hands-on partnership approach to effectively drive growth and maximize value. For more information please visit: www.varsityhealthcarepartners.com.
Mickey Mandelbaum or Nick Rust
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