Grant Avenue Capital Backed Valeo Home Health & Hospice Acquires Hearts for Hospice & Home Health from Abode Healthcare
Most recent acquisition of broader home-based care buy and build initiative
NEW YORK, April 27, 2021 /PRNewswire/ -- Grant Avenue Capital, LLC, www.GrantAve.com, a healthcare-focused private equity firm, announced today that its portfolio company, Valeo Home Health & Hospice acquired Hearts for Hospice & Home Health, based in in American Fork and Ogden, Utah. Hearts was a division of Abode Healthcare. The acquisition is the most recent in Grant Avenue Capital's broader home-based care buy and build initiative.
Founded in 2003, Hearts is an excellent regional provider of hospice and home health services and further builds out Valeo's service area in Utah. Additional information about Hearts is available at www.heartsforhospiceandhomehealth.com.
This transaction marks Grant Avenue Capital's sixth corporate carve-out in the past 15 months and is a further example of the firm's operational and execution capabilities.
With the acquisition of Valeo Home Health and Hospice in December 2020, Grant Avenue Capital launched a broader buy and build platform to complete targeted acquisitions and strategic partnerships in the home-based care sector. Members of the firm have a long history of investing in the category starting in the early 2000's.
"The outstanding team at Hearts is well known in the market for providing exceptional care to individuals and their families," said Buddy Gumina, founder and managing partner of Grant Avenue Capital. "We plan to accelerate the expansion of Hearts, Valeo, and our overall home-based care platform through continued investment in the clinical and leadership teams combined with strategic acquisitions, partnerships and de novo launches."
For more information, please visit www.GrantAve.com or email [email protected].
About Grant Avenue Capital LLC
Grant Avenue Capital is a healthcare-focused, middle-market private equity firm targeting investments alongside forward-thinking management teams that seek an experienced and innovative investor with highly flexible capital, both in terms of duration and structure. While a typical investment will involve companies generating approximately $5 million to $25 million of EBITDA, Grant Avenue Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, joint-control partnership investments, and special situations.
In addition, the Grant Avenue Foundation supports employees and portfolio companies of Grant Avenue Capital that are actively engaged with healthcare-oriented charitable organizations.
Contact:
Sari E. Ring
Chief of Staff
Grant Avenue Capital, LLC
212/630-5040
SOURCE Grant Avenue Capital
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