Posted on Tuesday, September 13, 2016 2:58 PM
Right at Home, an Omaha, Nebraska-based provider of home health care services, was recently acquired by a Raleigh, North Carolina-based private equity company called Investors Management Corporation (IMC). Additionally, IMC is responsible for the recent acquisition of Right at Home’s parent company, RiseMark Brands. This new ownership expects to see continued growth in the upcoming months.
Part of the acquisition includes upcoming initiatives with Harvard University and a new blended home care method stemming from a partnership with a technology company, Brian Petranick, president and CEO of Right at Home, explained to Home Health Care News. The partnership between Right at Home and Philips (NYSE: PHG) has started the process of bringing CareSensus remote monitoring systems to 25 of the Omaha, Nebraska-based company’s agencies.
The acquisition by IMC was the result of original investors from Right at Home retiring and looking to divest their shares Petranick shared.
“We’ve been a very closely held organization for 18 years and we just had some of our original investors ask for a way to liquidate their investments in the organization,” Petranick said. “Not for any other reason than they are approaching retirement. So that’s what prompted us to go into the marketplace.”
IMC will move forward with the majority of ownership of RiseMark Brands, however the founder and Executive Chairman Allen Hager will lead the company along with Petranick.
“They [IMC] are a significant organization and have a lot of resources,” he says. “It gives us the opportunity to do a lot more. It will be much easier to access capital and to build a platform company with important strategic initiatives.”
“We are excited to welcome RiseMark into the IMC family of companies,” Quinton Maynard, chairman and CEO of IMC, said in a press release. “We feel that RiseMark’s mission to improve the quality of life for those they serve is meaningful and worthwhile and one that we can proudly support for years to come.”
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