Health Connect America, Inc. Acquires First Home Care and North Star Counseling of Central Florida

--Acquisitions expand Health Connect's service offerings and regional coverage as the Company advances its mission-driven behavioral health services platform--

--Health Connect has now completed five strategic acquisitions in 18 months under Palladium Equity Partners' ownership--

FRANKLIN, Tenn., Feb. 22, 2023 /PRNewswire/ -- Health Connect America, Inc. ("Health Connect America" or the "Company"), a mission-driven behavioral health services platform, today announced that it has completed the acquisitions of First Home Care and North Star Counseling of Central Florida ("North Star"). These transactions build on the Company's previous three acquisitions announced in early 2022 under the ownership of Palladium Equity Partners and advance the Company's geographic reach and breadth of services to the more than 21,000 children and their families it serves in seven states across the southeast portion of the United States.

First Home Care and North Star each closely align with Health Connect America's mission and growth strategy: 

• First Home Care, based in Richmond, VA, is a well-respected provider of therapeutic foster care ("TFC") programs in four locations throughout VA and in collaboration with Foundations for Home and Community in Washington, D.C. and Maryland. As a leading TFC provider, First Home Care provides Health Connect America additional coverage in Virginia, one of the Company's key growth states and will help expand Health Connect's TFC service line. First Home Care was previously owned by Universal Health Services, a publicly traded hospital management and healthcare services company.
• North Star, based in Kissimmee, FL, provides behavioral therapy services and targeted case management focusing on children and their families. Strategically, North Star further expands Health Connect's footprint in Florida, one of the key growth states. North Star's founders, Wilson and Omayra Villanueva, have joined Health Connect America as Directors of Operations for the state of Florida.

Kristi Shain, President and CEO of Health Connect America, said, "First Home Care and North Star are each a great strategic fit and we welcome both companies and their talented teams into the growing Health Connect America family."

"As we plan our future, we take seriously our responsibility that every individual who comes to Health Connect for assistance is unique," added Ms. Shain. "This demands of everyone here to understand the importance of the personalized service we render in addressing our clients' needs, as well as those of their family and other significant people in their lives."

Wilson and Omayra Villanueva, Founders of North Star Counseling of Central Florida, commented, "We are extremely pleased to join Health Connect's growing family of behavior health companies as Florida's Directors of Operations. In addition to our attraction to Health Connect, we were also impressed with the team at Palladium Equity Partners, who has a long and proud history focusing on investing in successful founder-family businesses."

Daniel Ilundain, a Partner and Co-Head of Flagship Funds at Palladium Equity Partners, LLC ("Palladium"), which acquired Health Connect America in August 2021, said, "We are pleased to support Health Connect's M&A growth strategy, particularly as the company continues to build its platform and extend valuable healthcare services, especially those that serve our nation's most vulnerable communities."

Financial terms were not disclosed.

About Health Connect America
Health Connect America is a multi-state behavioral health platform that treats a comprehensive mix of issues including conduct disorder, substance abuse, autism disorders and emotional disturbance. Health Connect America provides mental and behavioral health services to children, families, and adults across multiple states. Health Connect America is honored to be a part of the communities it serves and walk alongside its clients as they embark on a journey to self-improvement and more fulfilling lives. Health Connect America provides its services in your community, in your home, or in one of our multiple offices across several states. Its network of direct care professionals is readily available to meet the needs of our clients and their families in our communities.

The services Health Connect America provides are meant to fit into customers' lives and can come in the form of one-on-one or family counseling, case management, autism services, or medication management for children, adults, and families. These services promote positive personal growth, develop healthy coping skills, preserve and repair relationships and natural support systems. Additional information may be found at www.healthconnectamerica.com.

About Palladium Equity Partners, LLC
Palladium is the oldest minority-owned private equity buyout firm in the industry with $3 billion of assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has invested over $3 billion of capital in 38 platform investments and over 160 add-on acquisitions, realizing 23 of these platform investments. The firm focuses primarily on buyout investments targeting $50 million to $150 million in equity. The principals of the firm have meaningful experience in consumer, services, industrials, and healthcare businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population. Palladium, which is a Certified B Corp, is based in New York City. For more information, visit www.palladiumequity.com.

Media contact:
Jeffrey Taufield
Kekst CNC
[email protected]

SOURCE Palladium Equity Partners, LLC; Health Connect America, Inc.

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