Leading provider of hospice services, serving 17 counties in northern Alabama with a primary focus on the Huntsville, Decatur and Muscle Shoals regions.
Portfolio company of leading healthcare investment group, Frazier Healthcare, providing home health and hospice services in Virginia and Alabama.
HNA had received numerous unsolicited calls from potential strategic buyers. Shareholders had explored these strategic alternatives on their own but with limited success.
Industry consolidation and reimbursement uncertainty motivated HNA shareholders to pursue a sale.
Based upon BCA’s healthcare services expertise and knowledge of and strong relationships with strategic hospice acquirers, the shareholders engaged BCA to identify and selectively contact a number of prospective buyers and ensure that there was sufficient competitive tension to close a transaction at an attractive price.
Assisted management in preparing investment materials that fairly represented the Company’s improving operating performance, increasing cash flow, cost synergy opportunities and forward revenue and earnings visibility.
Also effectively communicated and demonstrated management depth and talent at the operating level, ensuring that shareholders received full credit for compensation-related add-backs to EBITDA.
HNA was acquired by Abode Healthcare (“Abode”), a portfolio company of Frazier Healthcare.
Shareholders achieved 100% liquidity.
“Brentwood Capital Advisors’ experience and skills played a critical role in helping us identify and complete this transaction with Abode. We have enjoyed a long-term, trusting relationship with Brentwood Capital and are pleased with the outcome.”
- Jim Cunningham
Managing Member, HNA