Contact Information: For Media Inquiries: David Gutierrez (312) 780-7204 dgutierrez@dresnerco.com Stephen Mullin (312) 780-7213 stevemullin@dresnerco.com For Transaction Related Inquiries: Gregg Pollack Managing Director Dresner Partners (312) 780-7207 gpollack@dresnerco.com
Dresner Partners Advises Care Collaborative Home Health Services, Inc. in Strategic Partnership With Home Health Group, LLC
| Source: Dresner Partners
CHICAGO, IL--(Marketwire - September 11, 2009) - Dresner Partners, a FINRA-registered,
middle-market investment bank, and IMAP member firm, announced today that
it advised Care Collaborative Home Health Services, Inc. (CCHHS) in its
recent strategic partnership with Home Health Group, LLC (HHG), a holding
company focused on investments in the home health industry. Terms of the
transaction were not disclosed. Dresner worked together with Fleetridge
Pacific, a San Diego-based investment bank, as co-advisor on the
transaction.
Headquartered in Chicago, Illinois, CCHHS is a Medicare-certified home
health agency founded in 2003. The company provides skilled intermittent
care to predominantly homebound elderly patients residing primarily within
the city of Chicago. Services include nursing, home health aid, physical
and occupational therapy, behavioral health, diabetic management and wound
care.
"This transaction positions CCHHS for its next stage of growth and
diversification, and we are very appreciative of the efforts of our
advisors at Dresner and Fleetridge for bringing this opportunity to
fruition," said Antoinette Hardy-Waller, Chief Executive Officer of CCHHS.
"We are very excited to be working with the proven, high quality team at
HHG to continue to build upon our success and expand our market and service
offerings." Ms. Hardy-Waller will remain in her role as Chief Executive
Officer of CCHHS following the transaction.
HHG was formed by Craig W. Moore and Eric Maaske to invest in the highly
fragmented home health services sector. Building on their track records
with Everest Healthcare Services, Inc., a very successful build-up in the
dialysis sector which was sold to Fresenius Medical Care (NYSE : FMS ) in
2001, Moore and Maaske intend to leverage CCHHS as a platform to add other
related home health businesses under the holding company umbrella.
"We were very impressed with the high quality of service and technological
innovation at CCHHS, in addition to the breadth of services provided,"
commented Eric Maaske, Chief Executive Officer of HHG. "The strong
management and historical investment in infrastructure make CCHHS an ideal
platform for executing HHG's build-up strategy in home health services."
Gregg Pollack, Managing Director at Dresner Partners, stated, "We are
pleased to have facilitated this highly strategic transaction on behalf of
the shareholders of CCHHS in this challenging environment. Given the
ongoing state of flux of capital markets and regulatory uncertainty in the
healthcare sector, we commend the management teams at both CCHHS and HHG
for their ability to focus on the mutual benefits of this transaction and
see it through to completion." Steven Dresner, President of Dresner
Partners, added, "The professionalism and creativity of both Toni Waller
and Eric Maaske enabled us to structure and complete a transaction that
achieves the objectives of both organizations and sets the stage for
accelerated growth at CCHHS. We look forward to the continued success of
these two companies in the home health industry."
About Dresner Partners
Dresner Partners is a FINRA-registered, middle-market investment bank based
in Chicago, Illinois with a long-term focus on the healthcare services
sector. Founded in 1991, Dresner Partners and its affiliates provide
financial advisory services to business owners and managers throughout the
United States, including institutional private placements of debt and
equity, mergers & acquisitions, and valuation and strategic consulting
services. Dresner Partners is also a member of IMAP, an exclusive global
organization of leading merger and acquisition advisory firms. Its
affiliate company, Dresner Corporate Services, is a strategic
communications firm specializing in investor and public relations. More
information is available via the Internet at www.dresnerpartners.com.
About Care Collaborative Home Health Services, Inc.
Headquartered in Chicago, Illinois, CCHHS is a Medicare-certified home
health agency founded in 2003. The company provides skilled intermittent
care to predominantly homebound elderly patients residing primarily within
the city of Chicago. Services include nursing, home health aid, physical
and occupational therapy, behavioral health, diabetic management and wound
care.
About Home Health Group, LLC
Home Health Group, LLC (HHG) was formed by Craig W. Moore and Eric Maaske
in 2009 to invest in the highly fragmented home health services sector.
Based in Oakbrook, Illinois, HHG intends to leverage its partnership with
CCHHS to build, through organic growth and acquisitions, a functionally and
geographically diverse home health services business in the Midwestern
United States.