Health Connect America, Inc. Acquires Three Businesses within the First Five Months of Palladium Ownership, Nearly Doubling the Revenue of the Company
FRANKLIN, Tenn., Jan. 6, 2022 /PRNewswire/ -- Health Connect America, Inc. ("Health Connect America" or the "Company"), a mission-driven behavioral health services platform, today announced that it has completed the acquisitions of three companies – Family and Children First, LLC ("Georgia HOPE"), Pinnacle Family Services Holdings, LLC ("Pinnacle") and Healing Educational Alternatives for Deserving Students, LLC ("HEADS"). These acquisitions expand the reach and breadth of Health Connect America to serve more than 18,000 children and their families in seven states (Tennessee, Georgia, North Carolina, Virginia, Florida, Mississippi and Alabama). The consolidated operations establish the Company as a leader in the Southeastern United States with aggregate revenues in excess of $100 million.
Georgia HOPE, Pinnacle Family Services and HEADS all align with Health Connect America's mission and outcomes-based strategy:
Kristi Shain, President and CEO of Health Connect America, said, "We are pleased to add Georgia HOPE, Pinnacle and HEADS to the Health Connect America family, each of which reinforces our mission-driven culture, while also expanding our existing services into new states. We look forward to working closely with the teams of each of these organizations to share best practices and innovation in the behavioral health market."
Dean Holland, Chairman of ealth Connect America, said, "These acquisitions bring a broad array of talented, like-minded industry leaders to an organization that is currently at the vanguard of behavioral health solutions in the region. I am excited to see what the collective team will make happen for the betterment of the thousands of clients and their families that the Company serves on a daily basis."
Adam Shebitz, a Partner at Palladium Equity Partners, LLC ("Palladium"), which acquired Health Connect America in August 2021, said, "We are excited to support Kristi's growth plan, by helping to execute on an aggressive M&A strategy and, in the process, nearly doubling the size of the Company within the first 5 months of our investment. Our partnership with Kristi and these three acquisitions continues Palladium's decades-long commitment to investing in healthcare businesses, especially those serving our nation's most vulnerable communities." Health Connect America is Palladium's seventh platform investment in the broader healthcare industry and these acquisitions bring the firm's total investments in healthcare, including follow-on acquisitions, to 46 across its last four funds.
Financial terms were not disclosed.
About Health Connect America
The services Health Connect America provides are meant to fit into customers' lives and can come in the form of one-on-one or family counseling, case management, autism services, or medication management for children, adults, and families. These services promote positive personal growth, develop healthy coping skills, preserve and repair relationships and natural support systems. Additional information may be found at www.healthconnectamerica.com.
About Palladium Equity Partners, LLC
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SOURCE Health Connect America; Palladium Equity Partners
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