US lower mid-market private equity firm Clearview Capital has acquired Child Health Holdings from Harbert Private Equity for an undisclosed sum.
Headquartered in Tampa, Florida, Child Health Holdings, which trades under the name of Pediatric Health Choice, provides healthcare services for medically complex, technology dependent and behaviourally challenged children.
The company is the largest operator of prescribed pediatric extended care (PPEC) centres in the US, with 15 centres in Florida, Pennsylvania and Louisiana. It also provides pediatric home health nursing, home medical equipment and instrumentation services, pharmaceutical services and behavioural healthcare.
“Pediatric Health Choice and its management team have long been the leaders in PPEC services, and have provided the highest quality care to children with complex, long-term medical challenges”, said James Andersen, a managing partner at Clearview.
“In partnership with the company’s talented management team, we hope to replicate the success we have had with Senior Care Centres of America, where we have been able to triple the revenue and earnings of the company through organic growth and acquisition,” he added.
Harbert initially acquired a controlling interest the company in 2006 through its HPEF II fund.
The deal represents the firm’s third platform investment in the past nine months. Clearview’s healthcare investments include Senior Care Centers of America, the country’s second largest provider of medically intensive adult day health and social services, and Pyramid Healthcare, a provider of drug, alcohol and mental health treatment for adults and adolescents.
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