Investment Aimed to Expand Services throughout Country for Leading Post-acute and End-of-life Services Provider
InTandem Capital Partners, LLC (“InTandem Capital”), a healthcare services focused private equity firm, announced today that its affiliated funds, InTandem Capital Partners Fund II, LP and InTandem Capital Opportunities Fund, LP, have completed a growth equity investment in Providence Care (the “Company”), a leading provider of post-acute and end-of-life services in South Carolina. Financial terms of the transaction were not disclosed.
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“After meeting with InTandem Capital and understanding the value their team will bring to our company, the decision to partner with them was easy,” said Johnnie Garmon, Founder and Chief Growth Officer of Providence Care. “Most important to us was finding a partner that shares our belief in putting the needs of the patient’s care first and specializes in preparing and helping companies execute and accelerate on their growth. It is an honor to welcome a team of investors and operators who have deep experience and success within the broader healthcare ecosystem.”
“Our investment in Providence Care aligns perfectly with our strategy and standards for partnering with high-quality healthcare companies,” said Todd Squilanti, Managing Director of InTandem Capital. “We believe in order to deliver a superior patient experience while simultaneously providing a comprehensive solution for payers, end-of-life care should include in-home integrated routine physician services, skilled nursing, palliative care and hospice services. Given their success and commitment to providing best-in-class services for patients and their families, we believe Providence Care is poised to expand throughout the U.S.”
Following the close of InTandem Capital’s investment, Providence Care and InTandem Capital welcomed Larry Nabb to Providence Care as Chief Executive Officer. Larry has enjoyed numerous successes in the hospice and home care sector including most recently serving as President and Chief Operating Officer of Remita Health (formerly Health Essentials).
Brad Coppens, Senior Managing Director of InTandem Capital, said, “We are excited to partner with Johnnie and the leadership team at Providence Care and we welcome Larry to the team. Providence Care’s comprehensive end-of-life service delivery model ensures a superior patient experience for the seriously ill and the opportunity to manage end-of-life care more efficiently as compared to siloed service models. We are confident our investment and operating approaches will significantly contribute to the accelerated growth of the company.”
Goodwin Procter LLP served as legal counsel for InTandem Capital Partners.
About InTandem Capital Partners
InTandem Capital Partners is a private equity firm that invests in and helps accelerate the growth of select healthcare services companies. Its goal is to build excellent businesses of significant value working collaboratively with its management team partners. InTandem is comprised of former business executives and experienced investors, and is uniquely qualified to provide strategic, acquisition and operating expertise to help companies significantly increase their value over time. InTandem provides active support to the management of its portfolio companies directly and leverages its network of industry executives to augment its capabilities. For further information, please visit: www.intandemcapital.com.
About Providence Care
Providence Care is the leading provider of post-acute and end-of-life services throughout the state of South Carolina. By utilizing an integrated home care model, Providence provides its patients with specialty services including house calls, home health care, telehealth, palliative and hospice care services. Through innovation, technology, and quality outcome measures, Providence Care provides a better patient experience throughout the patient's care journey. Headquartered in Rock Hill, South Carolina, Providence Care serves more than 3,000 patients throughout the Midlands, Upstate, and Lake-lands regions. For further information, please visit: www.providencecanhelp.com.
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