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Frontpoint Health Acquires High Plains Senior CareFrontpoint Health ("Frontpoint"), a portfolio company of Cimarron Healthcare Capital and Tacoma Holdings, today announced that it has completed its acquisition of High Plains Senior Care Group ("HPSC"), a large Home Health and Hospice company in Texas. Frontpoint is a leading Home Health and Hospice platform focused primarily on providing care to Medicare Advantage patients in Texas. Financial terms of the private transaction were not disclosed. "HPSC is a perfect fit for what we're building at Frontpoint Health. HPSC has a strong team, a culture of providing best-in-class clinical care, and a highly synergistic geographic overlap with Frontpoint's existing markets," said Brent Korte, CEO of Frontpoint Health. "With the addition of HPSC, Frontpoint's growth will accelerate throughout Texas and other states in the Southeast with our unique focus on serving the high-growth, underserved Medicare Advantage market." The acquisition will expand Frontpoint's geographic coverage to over 176 counties throughout Texas and will allow Frontpoint to deepen its strategic relationships and further integrate with Medicare Advantage plans throughout the Southeast. Pro forma for the acquisition, Frontpoint is one of the largest and fastest-growing Home Health and Hospice companies in the United States. "It was clear from our very first meeting that Frontpoint was the right partner for our business," said Andy McBee, former Executive Chairman of HPSC. "We are excited to continue to support HPSC now as investors in the combined business." Craig Johnson, former Chief Operating Officer of HPSC will now serve as the Vice President of Home Health for Frontpoint Health, said, "Speaking on behalf of the entire HPSC family, we are thrilled to partner with Frontpoint Health to povide excellent patient care to even more people throughout Texas and the greater Southeast!" "Our partnership with HPSC will allow us to accelerate our integration with the Medicare Advantage plans throughout the Southeast as we work tirelessly to help more seniors stay out of the hospital and live healthier, longer lives. The rapid growth of Medicare Advantage enrollment is one of the most impactful trends in modern healthcare. As Frontpoint's strategic and operational model are uniquely aligned to serve Medicare Advantage patients, we believe our company is well positioned for the future of care in the home," said Brent Korte, CEO of Frontpoint Health. About Frontpoint Health Frontpoint Health is a leading healthcare services company focused on providing the continuum of care in the home for aging and homebound patients, with a particular emphasis on the Medicare Advantage market. Through close integration with its health system and health plan partners, Frontpoint delivers superior patient health outcomes while minimizing total spend to the healthcare system and payers. Frontpoint is one of largest and fastest-growing home health and hospice companies in the United States. Frontpoint Health is backed by Cimarron Healthcare Capital and Tacoma Holdings. For more information, please visit: www.frontpointhealthcare.com. About Cimarron Cimarron Healthcare Capital is a Salt Lake City-based private equity firm focused exclusively on healthcare investments in the lower middle-market. Cimarron's experienced investment team and industry domain expertise aligns its investment strategy with its portfolio companies' growth and expansion needs, creating an ecosystem designed to maximize value. For more information, please visit: www.cimarronhc.com. About Tacoma Holdings Founded in 2020, Tacoma Holdings is a Phoenix-based private equity firm focused on founder-built healthcare companies in high-growth markets. Tacoma pursues a hyper-thematic and operationally intensive approach to its investments and surrounds its companies with a team of world-class operators at the board of director level. For more information, please visit: www.tacomaholdings.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240229437202/en/ |
