Encompass Home Health Announces New Financial Partner: Thoma Cressey Bravo of Chicago
Dallas, Texas, August 21, 2007 – Encompass Home Health, the largest provider of Medicare-certified home health services in Texas, Oklahoma and New Mexico, has successfully completed a recapitalization led by Thoma Cressey Bravo (“TCB”), a leading private equity investment firm with more than 27 years of experience. TCB, in partnership with Encompass management and Northwestern Mutual Capital, acquired all of the interests in Encompass owned by the company’s previous financial partner, Apax Partners, LP.
Peter Ehrich, Partner of TCB, states, “We welcome the opportunity to partner with the market leader in the fragmented and growing home health sector, and look forward to helping the company enhance its leadership position. With home health care expenditures currently exceeding $53 billion and projected to double in the next ten years, we believe Encompass is well positioned to capitalize on the sector’s strong growth prospects.”
April Anthony, CEO of Encompass, says, “We are excited about our partnership with Thoma Cressey Bravo. We believe that Thoma Cressey Bravo shares our belief in exceptional patient care, and that Encompass’ position as a leading provider in the home health sector will be further enhanced as we partner with TCB to expand the business.”
About Encompass Home Health
Encompass Home Health (www.ehhi.com) is a leading provider of skilled home health services to Medicare, Medicaid and Private Insurance beneficiaries in Texas, Oklahoma, and most recently the New Mexico market. As the largest, most sophisticated provider in these states, Encompass currently operates 44 branches and has been an active consolidator in the highly-fragmented home health market. In addition, Encompass provides continuous care skilled nursing services to high-needs pediatric patients. Encompass has developed a strong reputation for providing superior patient care including skilled nursing and therapy services, disease management programs, wound care, and home health aides as well as utilizing state-of-the-art technology to ensure positive outcomes.
About Thoma Cressey Bravo
Headquartered in Chicago, Illinois, TCB (www.tcb.com) is a leading private equity investment firm with more than 27 years of experience in building successful companies. Recognized nationally for pioneering the “buy and build” strategy, TCB identifies high-potential industry sectors and partners with successful companies to build industry leaders through organic growth, operational improvements and strategic acquisitions. The firm currently manages almost $2 billion in equity capital and specializes in healthcare, software, business services and other consolidating industries including education, distribution and consumer products. TCB has been an active investor in the healthcare industry for more than two decades and has invested in almost every major healthcare segment and niche.