 The Partnership for quality home healthcare
SUNCREST HEALTHCARE, INC. AND OMNI HOME HEALTH
SERVICES, LLC ANNOUNCE MERGER
Combined Company Offers Highest Quality Home Healthcare and
Expanded Presence
Madison, TN - SunCrest Healthcare, Inc. and OMNI
Home Health Services, LLC, two leading regional providers of home
healthcare services, announce they are joining forces effective
Friday, May 20, 2011.
The combined company, which adopted the name of SunCrest Healthcare
at the corporate level, provides clients with skilled nursing,
physical, speech and occupational therapy services in the privacy of
their own homes. The merger will expand SunCrest Healthcare’s
geographic presence and create more opportunities for continued
growth in an expanding healthcare sector.
“We couldn’t be happier that our organizations are combining forces, especially since our patient care goals are so complementary,” said John W. (Wally) Dant III, president and chief executive officer of SunCrest Healthcare, Inc. “We’re creating a stronger company that will continue to provide quality, compassionate services to our patients and their families in their homes. We recognize the valuable relationship with our employees, referral sources and the growing list of communities we serve. These values are deeply rooted in each of our companies, so this merger will be beneficial on so many levels,” he explained.
Fred Portnoy, chief executive officer of OMNI Home Care further
added, “Business operations will continue as usual after the merger
of the two companies which combined will have operations in ten
states. The impact to
locations and field staff will be minimal.
Even in the few locations where there is direct overlap in
services between SunCrest and OMNI, our branch locations will see
few, if any, changes, we will continue to deliver high quality
services to all of our patients,” he remarked.
After the merger, the administrative headquarters for SunCrest
Healthcare, Inc. will be located in Madison, Tennessee.
Many aspects of corporate and support services will be
performed in Madison, Tennessee and Coral Springs, Florida, where
OMNI is located. Local
branches of SunCrest Healthcare and OMNI Home Care will retain their
brand name after the merger.
The combined company will benefit from equity capital from New
MainStream Capital and MBF Healthcare Partners to continue its
consolidation strategy. Both private equity firms have been
investors in OMNI Home Health since 2008.
Martin E. Chavez, managing partner, New MainStream Capital added, “We at New MainStream Capital are excited to help bring together
two great healthcare services companies-SunCrest and OMNI. This
opportunity fits well within our portfolio of investments as we look
to work with well-run companies with proven success records that
provide critical services to the aging US population.”
Jorge Rico, managing director, MBF Healthcare Partners added, “This
merger will allow both companies to provide expanded services to
patients in local markets throughout the southeastern United States
from Illinois to Florida including several Certificate of Need
states. We could not be happier about our involvement in this
opportunity.” Harpeth Capital, LLC served as financial advisor
to SunCrest Healthcare, Inc. on this transaction and has served as
the company’s investment banker since its inception in 2005.
About SunCrest Healthcare, Inc.
SunCrest Healthcare, Inc. was formed in 2005 to develop
Medicare/Medicaid-certified home health agencies in the southern
United States.
SunCrest’s operating philosophy focuses on developing effective
partnerships with local healthcare communities, especially local
hospital systems, in order to ensure that the communities’ home
healthcare needs are met in a caring, high quality, safe, and
cost-effective manner.
SunCrest operates locations across Tennessee, Alabama, Georgia,
Florida, Kentucky, Mississippi and Missouri.
About OMNI Home Care
OMNI Home Care is a state certified Medicare agency delivering
exceptional professional medical care in the privacy of the
patient's home. HomeCare Elite rated OMNI in the top 25 percent of
United States agencies.
OMNI provides skilled nursing, wound care, physical therapy,
occupational therapy, speech therapy, home health aides and medical
social workers. Many offices also offer in-home psychiatric nursing,
IV therapy and chemotherapy.
Founded in 2001, OMNI has service areas throughout Florida,
Pennsylvania, Illinois, Indiana and Ohio.
### SunCrest Healthcare selects Philips for its telehealth program, underscoring a commitment to provide the highest quality of care for their home care patients
SunCrest ready to deploy home telemonitoring technology from Philips Healthcare, a global leader in acute care, cardiac care and home healthcare NASHVILLE, Tennessee – SunCrest Healthcare, Inc., a leading regional provider of home health, private duty, companion care and therapy services today announced that they have selected Philips Healthcare to be their provider of telehealth monitors for their home care patients. Philips Home Healthcare Solutions, of Royal Philips Electronics, (NYSE: PHG; AEX: PHI), is pleased to support SunCrest in its mission to provide quality outcomes for home care patients across the southeast. This 3-year agreement with Philips commences immediately. "We selected Philips to partner with after a long evaluation process because of their innovative track record in healthcare, both in the acute setting and in home care. We believe that Philips will continue to bring forth technologies that will assist us in delivering the highest quality of care to our patients," stated John W. Dant III, President and CEO, SunCrest Healthcare. Home Telehealth has been proven to significantly reduce the number of hospitalizations for patients with chronic conditions such as heart failure, as well as unplanned visits to the Emergency Department1. Telemonitoring equipment is installed in the patient’s home enabling patients, caregivers, and nurses to daily monitor weight, blood pressure, and other vital signs associated with chronic disease. In addition, the home care team is able to remotely conduct assessments and deliver educational material through the use of a home hub called the TeleStation. By offering Telehealth Services, SunCrest aims to not only improve patient outcomes, but also decrease the burden on local hospitals while giving assurance to patients and their families that they are being monitored daily by a clinician. “We are pleased that SunCrest selected Philips due to our leadership in acute care patient monitoring. Philips is equally committed to evidence-based best practices for home care that can dramatically reduce unnecessary readmissions2,” said Mike Lemnitzer, senior director, Philips Telehealth Solutions. “With healthcare reform, it is becoming increasingly important for home health to play a critical role in helping hospitals manage their chronic patients after discharge – we applaud SunCrest for their leadership throughout the southeast in this effort.” About SunCrest Healthcare SunCrest Healthcare, Inc., based in Nashville, Tennessee, is a leading regional provider of home health, private duty, companion care and therapy services across the southeast. SunCrest has over 50 locations in Alabama, Florida, Georgia, Mississippi, Missouri, Tennessee and Texas. SunCrest is dedicated to providing compassionate quality services to our patients and their families while recognizing the valuable relationship with our employees, referral sources and communities we serve. http://www.suncresthealth.com/ About Philips Philips Home Healthcare Solutions was awarded the 2008 Frost & Sullivan Growth Strategy Leadership Award in recognition of its strategic leadership and foresight into the North American remote monitoring market and its acquisitions across the home health continuum. Philips Home Healthcare portfolio includes Telehealth Solutions, Philips Lifeline medical alert services and medication dispensing solutions, and Philips Respironics, a leader in sleep apnea products and respiratory solutions. For more information, visit www.philips.com/homehealth. Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified Health and Well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 116,000 employees in more than 60 countries worldwide. With sales of EUR 26 billion in 2008, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter. Media inquiries, please contact:
1. University of Ottawa Heart Institute, Telehealth Monitoring study, announced July 9, 2009. 2. Tufts-New England Medical Center, SPAN-CHF II study, presented at the American Heart Association, Nov 15, 2005. SunCrest Healthcare buys three home health businesses from SunLink Health Systems 14. September 2009 04:58 SunCrest Healthcare, Inc. announced today that it has purchased three home health businesses from SunLink Health Systems, Inc. The home health businesses are located in Adel, Georgia; Clanton, Alabama; and, Fulton, Missouri. SunCrest Healthcare, Inc. through its’ subsidiaries operates home health agencies in Tennessee, Georgia, Florida, Mississippi and Texas. The acquisition from SunLink broadens their scope of service into two new states. SunCrest is dedicated to providing compassionate, quality services to our patients and their families while recognizing the valuable relationship with our employees, referral sources, and the communities we serve. |
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