 |
|
Interim HealthCare Acquired By Sentinel Capital PartnersMay 24, 2006 Interim HealthCare, Inc., the nation's largest combined provider of home health care and supplemental health care staffing services, has been acquired by Sentinel Capital Partners, a private equity firm that invests in promising, smaller middle-market companies. Founded in 1966 and based in Sunrise, Florida, Interim is the nation's oldest and best established health care franchise organization with more than 300 service locations in 39 states and Puerto Rico, more than $620 million in system wide sales and a workforce of 75,000 employees. "With proven experience in the health care sector and with franchise organizations, both as franchisee and as franchisor, Sentinel understands our business well," said Allan Sorensen, Interim's Chief Executive Officer. "With their strategic and financial support I am confident that our seasoned management team will take Interim to the next level." Paul Murphy, partner at Sentinel, said, "We seek to partner with talented managers of strong companies - in industries in which we have considerable experience - and to help them grow their businesses. Interim is a market leader with a well-established and respected brand and a diversified mix of business and payors, and we are excited to be working with this outstanding management team to grow the company." Interim HealthCare operates two complementary businesses serving the healthcare market. Interim's core business provides home health care services, including skilled medical care delivered by nurses, therapists and other specialized caregivers and non-medical support services provided by home health aides, personal care aides, companions and homemakers. Interim's second business provides supplemental staffing for health care facilities and other businesses. Supplemental staffing places nurses, therapists and other health care personnel in facilities and businesses for short-term assignments or as direct hires. "Key demographic trends are fuelling growth in the home healthcare sector, and industry experts expect home health care to grow more than 40% in the next five years, "said Jim Coady, partner at Sentinel. Added Coady, "With its solid business mode, excellent management team and devoted franchisees and employees, few companies are better positioned than Interim to capitalize on this trend." About Interim HealthCare Inc. Founded in 1966, Interim HealthCare is the nation's oldest proprietary national organization providing health care personnel at all skill levels and in all settings. Through one of the country's most comprehensive networks of 300 franchise and branch offices (Interim HealthCare provides diverse services including home care, medical staffing and occupational health and nurse support programs for pharmaceutical manufacturers and distributors through its PharmaSupport Services. Interim employs more than 75,000 health care workers and serves approximately 50,000 people each day. For additional information visit www.InterimHealthCare.com. About Sentinel Capital Partners Sentinel Capital Partners specializes in buying and building smaller middle-market companies in the United States and Canada in partnership with management. Sentinel targets service businesses, consumer products, food and restaurants, franchising, and manufacturing businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestures and going-private transactions of established businesses with operating profit between $5 million and $20 million. More information about Sentinel can be found on the firm's website at www.sentinelpartners.com MEDIA CONTACTS: Linda Shaub, Vice President, Marketing, Interim HealthCare, Inc. - 954-858-2706 Dan Jacobs of Broadgate Consultants, LCC- 212-232-2222 |
|
|
  |