Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, East Tennessee Personal Care Service LLC (ETPCS), to Associated Home Care, a subsidiary of Amedisys Inc. The acquisition closed May 1, 2018.
East Tennessee Personal Care Service, based in Knoxville, Tennessee, offers personal care, homemaker services, personal support and Licensed Practical Nurses (LPNs) to clients to encourage independent living 24 hours a day, seven days a week.
With 212 employees, ETPCS is the largest provider of personal care services in its metro area and delivers care to about 600 clients per year.
“We are thrilled that we will join the Amedisys family,” said Penny Bandy, ETPCS Executive Director. “We have been committed to the markets we serve for 14 years, and this transaction will ensure that our clients continue to receive the care they have come to expect from the aides they depend on.”
“I am confident the Amedisys family is the right choice for our company and our clients,” said Bill Linam, ETPCS Business Manager and Co-Owner. “I can retire with ease knowing the same traditions, values and commitment to providing consistent, quality care will continue under Amedisys.”
Amedisys Inc., headquartered in Baton Rouge, Louisiana, with an executive office in Nashville, Tennessee, is a leading healthcare at home company delivering personalized home health, hospice and personal care.
“This transaction is exciting because it enlarges our personal care footprint outside of Massachusetts,” said Amedisys President and CEO Paul Kusserow. “This allows us to continue to focus on our overall strategy of expanding our capabilities across the home health continuum and in this important market.”
Generational Equity Senior Managing Director Julie Sandoval’s team successfully closed the deal. Senior Managing Director David Robinson established the initial relationship with ETPCS.
“The buyers and sellers were an instant fit, and this process involved various moving parts, long hours and dedicated parties to complete the transaction,” said Sandoval. “It took longer than expected, but the professionalism and commitment on both sides eventually brought things to a successful close.”