Livingstone is pleased to announce the completion of the sale of Infinity HomeCare (“Infinity” or the “Company”), a portfolio company of HealthEdge Investment Partners, to Amedisys, Inc. (NASDAQ: AMED). Under the terms of the agreement, Amedisys acquired 100% of the ownership interests in Infinity for $63 million. Livingstone advised the Company and HealthEdge Investment Partners, whose principals control Infinity.
Founded in 2006 and headquartered in Sarasota, Florida, Infinity provides a comprehensive range of in-home skilled nursing and therapy services to more than 14,000 patients annually. With over 600 professionals across 15 care centers in Florida, Infinity generates approximately $50 million in annual revenue and recorded last twelve months adjusted EBITDA of $6.4 million.
“We relied on Livingstone’s experience and knowledge of the home healthcare sector to secure an outstanding result for Infinity employees, management and shareholders,” said Infinity’s President and Chief Executive Officer Steve Karasick. “We look forward to continuing and expanding our excellent record of patient care under the ownership of Amedisys.”
Amedisys is one of the nation’s leading home health care and hospice companies. Founded in 1982, Amedisys has more than 13,000 employees and 393 home health and hospice care centers in 34 states, including 13 care centers in Florida. Amedisys delivers health care and hospice services to more than 360,000 patients every year.
Livingstone’s Healthcare team in Chicago continues to build an impressive track record of home healthcare transactions. In September, Livingstone announced the sale of Option 1, a Thompson Street portfolio company, to Webster Capital’s Epic Health Services.
“The dynamics in home healthcare continue to favor sellers,” said Jim Moskal, Partner at Livingstone. “We expect valuations to continue marking all-time highs as strategic acquirers seek scarce assets of size and quality across this growing industry.”
HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience, and network of relationships of its partners. HealthEdge’s partners have more than 100 years of combined operating experience in healthcare as CEOs and investors. For more information on HealthEdge, please visit www.healthedgepartners.com.