Apax Partners sells Voyager HospiceCare, Inc. to Harden Healthcare, LLC
4th August 2010Apax Apax Partners today announced that it has completed the sale of Voyager HospiceCare, Inc., a provider of hospice and home health services in the United States,
Apax Partners today announced that it has completed the sale of Voyager HospiceCare, Inc., a provider of hospice and home health services in the United States, to Harden Healthcare, LLC.
New York, August 4, 2010 - Apax Partners today announced that it has completed the sale of Voyager HospiceCare, Inc., a provider of hospice and home health services in the United States, to Harden Healthcare, LLC. Terms of the transaction were not disclosed.
Voyager HospiceCare, which serves over 2,500 patients daily and has over 60 locations across seven states, was formed through several acquisitions completed in partnership with Apax over the past several years. Currently, Voyager is comprised of four hospice operating subsidiaries -- American Hospice, Hospice Care of Kansas, American Heartland Hospice and Iowa Hospice, as well as several early-stage home health businesses. Voyager's key hospice markets include Kansas, Missouri, Iowa and Texas, while its home health business is active in Colorado, Alabama, California and Texas.
Buddy Gumina, Partner and Global Co-Head of the Apax Healthcare team, commented: "We are pleased to have worked with a very strong management team in building Voyager HospiceCare into a great hospice and home health platform. Voyager's commitment to its patients and quality of service have been integral to its past and expected future success."
Healthcare is one of the five sectors in which Apax Partners focuses exclusively. Significant recent investments by the Apax Partners Healthcare team include: Marken, a global leader in clinical trial logistics; TriZetto, a leading healthcare IT company in the U.S.; Qualitest, a leading generic pharmaceutical manufacturer in the U.S.; General Healthcare Group, the largest private hospital group in the UK; Capio, a leading pan-European hospital group; Unilabs, a leading European clinical laboratory business; and Apollo, India's largest private hospital group.
About Apax Partners
Apax Partners is one of the world's leading private equity investment groups. It operates across the United States, Europe and Asia and has more than 30 years of investing experience. Funds under the advice and management of Apax Partners globally total around $35 billion. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services. For more information visit: www.apax.com.
About Voyager HospiceCare, Inc.
Voyager HospiceCare, Inc. was founded in 2004 as a hospice company, with headquarters in Fort Worth, Texas. Home health services were added in June 2008. The company's goal is to broaden the knowledge and acceptance of hospice and home health services among all groups-physicians, continuing care facilities, hospitals, and individuals and families/loved ones facing illness. Voyager HospiceCare is focused on continually advancing and improving the level of quality with which hospice services are administered. For more information, visit: www.voyagerhospicecare.com.