Alternate investment manager Angelo Gordon has completed the acquisition of National Home Health Care, a provider of home health care and staffing services in the north-east US.
Alternate investment manager Angelo Gordon has completed the acquisition of National Home Health Care, a provider of home health care and staffing services in the north-east US. The company’s shareholders will receive USD12.75 per share in cash.
Steven Fialkow, National Home Health Care’s president and chief executive, will continue in his current role, as will the company’s chief financial officer and vice-president of finance, Bob Heller.
‘It’s with great pleasure that we announce the closing of this exciting acquisition,’ says Angelo Gordon managing director Dan Bonoff. ‘This company is competing in a high-growth niche of the healthcare services industry and is well positioned to capitalise on favourable demographic trends. Since NHHC is led by an outstanding management team, we believe it is a very attractive platform for future growth.’
Based in Scarsdale, New York, National Home Health Care provides home health care and nursing services. The company currently has operations in New York, New Jersey, Connecticut and Massachusetts, where it is a Medicaid certified provider.
‘Our management team is very proud of the successes that we have achieved over the past several years, providing the very best in clinical home care services to our patients,’ Fialkow says. ‘With the committed support of Angelo Gordon and Eureka Capital Partners, we can now aim even higher.’
Angelo Gordon was founded in 1988 and has some USD16bn under management. It employs over 100 investment professionals and is headquartered in New York, with offices in Los Angeles, Chicago, London, Hong Kong, Seoul and Shanghai.
