Varsity Healthcare Partners has sold Angels of Care Pediatric Home Health to Nautic Partners

Angels of Care Pediatric Home Health

Founded in Texas in 2000, Angels of Care Pediatric Home Health (AOC) is the premier healthcare platform supporting medically complex children and families. AOC’s core offering is private duty nursing, which is complemented by a continuum of other services such as therapy services, family caregiving, prescribed pediatric extended care and skilled and home attendant visits to the 1% of children in the U.S. who account for over 30% of the total pediatric medical spend. In 2019, AOC partnered with Varsity Healthcare Partners (VHP), one of the nation’s premier healthcare investors. Together, they successfully expanded geographically, recruited seasoned industry leaders, invested in mission-critical technology and processes, and grew despite the challenges presented by COVID-19. Management and VHP also positioned the company at the vanguard of integrating value-based care delivery for medically complex kids, driving value and satisfaction for families, providers and payors. The company is incredibly proud of its heart, advocacy, love, outreach and speed (HALOS) culture, making AOC an employer of choice for nurses and a strong patient-first environment providing clinical excellence and quality patient service.

Kenton Rosenberry, VHP’s Founding Partner, stated, “Our positive experience with AOC exactly reflects the style of collaborative and synergistic partnerships we seek to create with healthcare business owners. We appreciate and thank Jessica along with the entire AOC team for their passion and commitment. We also wanted to sincerely thank the Lincoln International team for their exceptional representation of the company throughout the exit process.”

The Deal

Nautic Partners is acquiring a controlling interest in AOC and plans to partner with the management team to help realize its next phase of growth. Nautic is an extremely accomplished investor in healthcare services broadly, as well as home healthcare and value-based care specifically. With Nautic’s new partnership, AOC intends to continue its penetration of existing markets, enter new geographies, add capabilities to serve patients and grow its relationships nationwide with payors. Terms of the transaction were not disclosed.

Jessica Riggs, Chief Executive Officer of AOC, commented, “We are grateful for our successful partnership with Varsity. They were instrumental in helping us grow and align our platform for the future. We are excited for the next chapter. Thank you to Lincoln for providing great counsel and support during the sale process.”

Our Perspective

Barry Freeman, Lincoln International Managing Director who led the transaction, commented, “It was a privilege to have represented both VHP and management in this important transaction. What they accomplished together in a short amount of time is truly remarkable. Nautic recognized the tremendous value of the AOC platform and its vast untapped potential in serving medically complex pediatric populations. AOC is perfectly situated to capitalize on the growing shift of complex pediatric care towards the home and the concurrent evolution to value based care. AOC marks our sixth sale transaction representing a pediatric home healthcare platform company and we are an investment banking advisor that has an intimate understanding of factors driving the sector.”

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