Kain Capital Announces Formation of New Hospice Holding Company and Its First Acquisition
Kain Capital LLC, a leading private equity firm focused on the technology enablement of healthcare services companies, today announced both the formation of a new holding company for hospice investments, PERA Holdings, and the platform's first acquisition.
PERA Holdings has been established by Kain Capital to make a series of investments in regional hospice companies where existing managers are seeking advanced technology capability, capital, and operating improvements to enhance and grow their offerings. PERA has completed its acquisition of a majority stake in Hospice Care of America ("HCA") located in Kansas City and operating a group of affiliated hospices in Kansas, Missouri, Oklahoma and Colorado.
"We are excited to bring several of the innovations that Kain Capital has driven in other areas of healthcare to hospice," said Steven Yecies, Managing Partner of Kain Capital.
Kris Stice has been named CEO of PERA Holdings and will lead a team of hospice industry veterans to build a world class shared services organization to benefit the regional operating companies.
"Our team is passionate about our calling and how we can help our partners impact patients and families at a time when they really need assistance in their journeys," said Kris Stice, CEO of PERA Holdings. "The acquisition of HCA is a first step in PERA's strategy to create a best-in-class hospice and palliative care services provider with a national footprint."
PERA Holdings will continue to partner with outstanding regional hospice operators to create the highest level of quality hospice service offerings on a national scale. PERA companies will benefit from the adoption of innovative information technologies to improve the clinical quality and delivery of services, minimize administrative requirements of clinical professionals, and automate uch of the billing, compliance and regulatory management functions. PERA will also work with strategic industry players to integrate PERA hospices' services with other partners' offerings.
The founders of HCA, Phil Hill, Janet Rogers and Russ Rogers, will remain in their current roles and remain equity owners in the business. They will work with the PERA management team to accelerate HCA's growth within its geographic footprint. "We needed a partner that understands our needs and can bring best practices, technology innovation and capital to take our company to the next level," said Phil Hill, CEO of HCA.
"We see an opportunity to serve our communities while making a positive impact in an emerging area of healthcare," said Kunal Kain, Founder and Managing Partner of Kain Capital. "We find unique ways to build teams that bring together the right elements of people, experience, capital, passion and innovation to build world class healthcare companies."
About Kain Capital LLC
About PERA Holdings
About Hospice Care of America (HCA)
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