FORT WORTH, Texas, Sept. 16, 2021 /PRNewswire/ -- VERTESS, a leading healthcare mergers and acquisitions (M+A) advisory firm (http://vertess.com), announced today that David Purinton, an experienced leader in drug and alcohol recovery services as well as financial consulting, has joined the company as a Managing Director. David began his career in corporate M+A and financial advisory services with a full-service investment bank and then a consulting agency serving investment banks, private equity groups, and operating companies.

After a decade of experience as both a client of and consultant to SUD treatment providers, David was interested in improving access to high quality treatment. As a result, he co-founded Spero Recovery, a provider of low-cost, high-quality drug and alcohol recovery services with over 100 beds in its continuum of residential, outpatient, and sober living care. Spero Recovery, based in Colorado, is a residential SUD treatment environment with upscale amenities and personalized care.  As its CFO, David led the company to significant revenue and margin growth while ensuring it adhered to the strictest principles of integrity and client care. After selling Spero, David remained in a leadership position with new ownership as its CFO and quickly realized accretion and integration.

While working full-time, David earned his MBA from the University of Denver with Distinction and a Concentration in Corporate Finance.  As a business leader, David focused on the importance of investing in his staff and clients. He understood that the numbers on a spreadsheet represent humans, families, and dreams, which was a radically different paradigm from investment banking.

At VERTESS, David will provide M+A and consulting services primarily to the Behavioral Health and Substance Use Disorder treatment markets, where he brings a foundation of financial expertise with the value-add of humanness and care for the business owners he represents. 

"As a co-founder, I put my employees' and clients' needs above my own," David stated, "and I found that the inherent values of the VERTESS team are in complete alignment. They not only have a proven track record of success, but they truly care about their clients and the people whom their clients serve. VERTESS exceeded all of my expectations with regard to a client-centered approach to M+A advisory, and I am both honored and humbled to be on this team of exceptional professionals." 

Brad Smith, VERTESS Managing Director/Partner, said, "David's well-balanced background in both M+A and finance, as well as founding and operating a successful treatment facility is a tremendous asset to our team.  I believe David's empathetic and common-sense approach to helping other business owners will be a game changer for us."

David Purinton can be reached directly at dpurinton@vertess.com or +1.720.626.2500.

FORT WORTH, Texas, Feb. 4, 2021 /PRNewswire/ -- Living Innovations Support Services, Inc. (https://livinginnovations.com), a New England provider of supports for over 1,300 people with disabilities, has joined the Mosaic (https://www.mosaicinfo.org) family. In its new partnership with Living Innovations, Mosaic, a Nebraska-based provider of personalized services, has increased its reach to people with diverse needs in Maine, New Hampshire, Rhode Island, and Connecticut. The transaction was facilitated by VERTESS (https://vertess.com), a leading healthcare Mergers + Acquisitions (M+A) advisory firm.

Living Innovations, led by founder and CEO Neal Ouellett, is an innovative and successful community-based provider agency that facilitates day and residential services to children and adults.  They have been strongly committed to community inclusion.  The transition to Mosaic continues their dedication to meeting the unique needs of each individual and expanding their resources.

"I am excited to have helped Neal find the best fit for the Living Innovations family. Neal met with multiple buyers and vetted each very carefully," said Rachel Boynton, VERTESS Managing Director. "I think he made an amazing decision for the Living Innovations team. It was a pleasure to work with such a dedicated professional."

Neal commented, "We told ourselves we only have one chance to get this right and I'm convinced we've done just that. Mosaic has all of the things that we are looking for in a partner."

Mosaic has been strategically selecting new partners to help grow and expand their mission. Linda Timmons, President and CEO of Mosaic, believes their combined organizations will have a stronger voice for shaping the future of quality services for people with intellectual and developmental disabilities and other diverse needs.

For more information, please contact Rachel Boynton at 290782@email4pr.com or 520-395-0244.

FORT WORTH, Texas, Nov. 5, 2020 /PRNewswire/ VERTESS (https://vertess.com/), a leading healthcare mergers and acquisition (M&A) advisory firm, has facilitated 12 significant transactions to date in 2020 despite the many challenges posed by COVID-19.  The successes were achieved on both the sellside and buyside within a variety of different healthcare verticals, including behavioral healthcare, durable medical equipment (DME), intellectual and development disabilities (I/DD), and pharmacy. VERTESS anticipates closing an additional eight transactions prior to the end of the year as the market continues to stabilize.

"We've far exceeded our expectations for M&A activity since the onset of the pandemic," noted Bradley Smith, the VERTESS Managing Director/Partner who represented several clients in their successful transactions. He added, "Initially, we assumed many deals would wither on the vine as buyers put deals on 'pause.'  We worked closely with our clients and buyers to continue discussions and, ultimately, reached the finish line for most of those deals."

In addition, VERTESS has continued to expand its operations and bring on new team members.  They added a new Managing Director and a part-time financial analyst during the last seven months.  They are currently bringing on additional business development support to connect with members of the healthcare community.

"There has been a significant uptick in the number of people reaching out to discuss their companies and their personal goals," Smith stated.  "Whether due to the current healthcare crisis or other external/internal factors, healthcare business owners are seeking help understanding their options.  The additional new team members have given us the bandwidth to engage in meaningful discussions with owners. We expect to continue our growth and success in 2021, given the experience and knowledge of our team as well as a strong pipeline."

For more information, please contact Vaughne Glennie at 258325@email4pr.com.

FORT WORTH, Texas, Oct. 7, 2020 /PRNewswire/ -- VERTESS (www.vertess.com), a leading healthcare mergers and acquisitions (M&A) advisory firm, today announced the closing of three dynamic Intellectual and Developmental Disabilities (I/DD) service provider transactions in September 2020 in the face of healthcare upheaval. COVID-19 has proven to be the ultimate contender for providing, as well as accessing healthcare in the United States. Adaptions are inevitable and have been paving the way to powerful partnerships within the I/DD sector.

A+ Solutions (http://thinkaplus.com), an Ohio-based educational and psychological provider, was acquired by Refresh Mental Health, Inc. (https://www.refreshmh.com), the national clinical leader in providing psychiatric, psychological and therapy services.  Will Hartje, Vice President of Corporate Development for Refresh commented, "We are very excited to work with the founders of A+, Oren and Hadassa, to build upon the strong foundation and expand the A+ clinical model of excellence to complement our growing network of outpatient mental health clinics."

Bell Family, LLC (https://bellfamilyllc.com),an Arizona-based home and community based-services (HCBS) provider, was acquired by The MENTOR Network, Inc. (https://www.thementornetwork.com), a national healthcare and human services company. 

Spectrum Home Healthcare, LLC (https://spechomehc.com), an Arizona-based home healthcare provider, was acquired by The MENTOR Network, Inc. (https://www.thementornetwork.com), a national healthcare and human services company.

Rachel Boynton, the Managing Director who represented A+ Solutions, noted, "The deal hit a significant road bump when COVID-19 began, but the owners of A+ were able to quickly pivot their service delivery model and not only recover lost revenue, but increase it." With regards to Spectrum Home Healthcare, LLC, she goes on to say, "The family (Spectrum) has provided such amazing community-based services, I am excited to see them be able to grow through their integration into The MENTOR Network."

Dave Turgeon, the Managing Director who lead the sell-side transaction for Bell Family, LLC, stated, "The small providers are often overlooked. I am happy to have helped guide a well-deserving home-health provider to continue their influential reach within their community while reaching end goals."

For more information, please contact Dave Turgeon and Rachel Boynton at 256136@email4pr.com

FORT WORTH, Texas, Sept. 18, 2020 /PRNewswire/ VERTESS (www.vertess.com), a leading healthcare mergers and acquisitions (M&A) advisory firm, today announced the closing of four major Durable Medical Equipment (DME) healthcare transactions in Q2 and Q3 2020, despite challenges brought on by the pandemic. Even during unprecedented times, 2020 has been steadily gaining momentum within the DME industry. With several successful transactions this year, traction continues to increase in this sector.

Bradley Smith, the Managing Director who represented the four sellers in the transactions stated, "Even in the face of adversity that is 2020, I am thrilled to have helped deserving owners successfully exit their businesses while also helping bridge the gap for these healthcare providers to extend their established platforms."

Med Inc. (https://medinc.net), a Virginia-based DME Clinical Respiratory Provider, was acquired by Rotech Healthcare, Inc. (https://www.rotech.com), a Florida-based national leader in providing respiratory and sleep apnea treatment.

Health Technology Resources, LLC (https://yourhtr.com/), an Illinois-based clinical respiratory-focused DME provider, was acquired by Protech Home Medical Corp. (https://www.protechhomemedical.com), a Kentucky-based publicly traded healthcare services company.

Alliance Medical Supply (https://www.alliancemedicalsupply.com), a Texas-based pediatric respiratory and nutritional equipment supplier, was acquired by Pediatric Home Respiratory Service ("PHS") (https://www.pediatrichomeservice.com), a Minnesota-based independent comprehensive home care provider.

The assets of Metro-Med, Inc. (https://metromed.com), a California-based provider of respiratory services, were acquired by Rotech Healthcare, Inc. (https://www.rotech.com), a Florida-based national leader in providing respiratory and sleep apnea treatment.

For more information, please contact Bradley Smith at bsmith@vertess.com.

FORT WORTH, Texas, Sept. 15, 2020 /PRNewswire/ -- VERTESS mergers and acquisitions (M&A) advisory firm (www.vertess.com) is pleased to announce that David Coit, Jr., Finance + Valuation Director, recently earned the Certified Business Exit Consultant® Designation from the International Exit Planning Association (IEPA).  The Certified Business Exit Consultant® Designation is a significant achievement and further establishes David as one of the elite exit planners in the marketplace today.

"I'm excited to now offer our business clients exit planning as an additional value-added consulting service along with business valuation, value growth, and M&A consulting.  Business owners who plan their exit are more likely to achieve their goals than those who don't," David commented.

To receive the CBEC® Designation, David completed the high-level nine-week training program that required 30+ hours of pre-course study, 32 hours of extensive, leading edge curriculum taught by top expert instructors in their respective fields as well as the successful completion of the final exam.  As an additional requirement for the CBEC® Designation, David delivered an exit plan to an owner and submitted that plan to the IEPA's Certification committee for review.  The quality and the brand of the IEPA's CBEC® Designation requires this type of process.  Holding graduates to this standard ensures the IEPA that any advisor in the marketplace with the CBEC® designation has not only gone through their extensive Certification course and pre-work, but they have also taken an owner through this process and delivered the type of solution that the IEPA expects from their advisors.

The International Exit Planning Association's CBEC Designation Program
The emerging field of exit planning requires that our Certified Business Exit Consultant® graduates not only learn the material, but are also well-equipped to go out into the marketplace and deliver the exit planning services to exiting owners.  In order to have a comprehensive approach to an owner's needs, an advisor or consultant must have a solid plan to message this unique service to an exiting owner as well as sell and service the exit planning engagement.  The CBEC® Designation is designed to deliver this combination of training and skills through our rigorous curriculum, live practice management training and ongoing support. 

David can be reached at dcoit@vertess.com.

FORT WORTH, Texas, Feb. 27, 2020 /PRNewswire/ -- RSVP Home Care and Pulmonary Partners ("RSVP") (https://www.rsvphomecare.com/), a pediatric specialist group providing medical supplies and services in Kentucky, Ohio, and Indiana recently partnered with Pediatric Home Service ("PHS")(http://www.pediatrichomeservice.com/), a Minnesota-based independent comprehensive home care provider. RSVP Home Care and their adult division, Pulmonary Partners, provide specialized in-home enteral nutrition, respiratory care, and equipment to patients.  The transaction was facilitated by VERTESS (https://vertess.com), a leading healthcare M+A advisory firm.

"We believe this new partnership is win-win for RSVP, PHS, and the patients receiving services," noted Bradley Smith, the VERTESS Managing Director/Partner who represented RSVP in the transaction. "Continuity in the quality of care is the highest priority for both RSVP and PHS."

RSVP was founded by a group of respiratory therapists and serves technology-dependent pediatric patients and an adult population.  They offer a full range of Durable Medical Equipment (DME), Home Medical Equipment (HME), and clinical respiratory services.

YARMOUTH, Maine – Building on a handful of notable deals in late 2019, M&A analysts say they expect a strong 2020—at least to start.

Among the most active in 2019 was AdaptHealth, which in the fourth quarter bought several sizable companies, including McKesson’s Patient Care Solutions business, and became a public company.

“There is money flowing and deals—good deals—are getting done,” said Don Davis, president of Duckridge Advisors. “I think the buyers are going to be more aggressive, chasing deals and getting people motivated to sell in the first half of the year.”

AdaptHealth also bought the HME business of Advanced Home Care in December.

AdaptHealth’s activity underscores a trend of continued consolidation in the HME industry, despite an already thinned out crowd, analysts say.

PLYMOUTH MEETING, Pa. – AdaptHealth’s acquisition of Patient Care Solutions gives the provider a nice platform for expanding its supplies business, say analysts.

PCS offers disposable medical supplies, including urological, incontinence, wound care and diabetes supplies, as well as breast pumps.

“They’ve been doing supplies as a matter of course and I think this gives them the opportunity to leverage the customer base they have,” said Pat Clifford, managing director, the Braff Group. “It’s a good acquisition.”

Also part of the deal, announced in November: AdaptHealth will enter into a supply and distribution agreement with McKesson for PCS’s service lines.

The pack-and-ship model for supplies is one AdaptHealth already knows, thanks to its acquisition in 2018 of Verus Health, a national provider of CPAP supplies.

FORT WORTH, Texas--(BUSINESS WIRE)--Caregiver Inc., Texas’ second-largest provider of long-term care services and supports to people with intellectual and developmental disabilities announced today it has entered into a purchase agreement to acquire Mosaic services in Texas. Since Caregiver’s inception in 2015, the private Fort Worth-based company has experienced rapid growth to meet individuals with disabilities’ needs for high-quality care. Caregiver’s origins date back to 1978. The acquisition will expand the company’s presence in Texas and strengthen its portfolio of providers.

“Caregiver’s expertise and investments in technology are solving inefficiencies often experienced by smaller companies. As a result, costs go down, the quality of care goes up, and we’re able to expand services to more individuals and their families,” said Mark Lashley, president and chief executive officer of Caregiver. “Our partnership with Mosaic means conscientious and hard-working team members will have the opportunity to provide personalized services with compassion and respect to even more Texans with disabilities.”

“PDGM [Patient Driven Groupings Model] is going to be big,” says Managing Director Bradley Smith of Vertess, a Texas-based healthcare focused M&A advisory firm. 

PDGM is a new case-mix classification model used to structure healthcare payment categories and reimbursement thresholds. Come January 1, 2020, there will be a change in the unit of home health payment from a 60-day period to a 30-day period, forcing smaller providers to make substantial adjustments to their operating models.

“It will be similar to what happened in home health in 2000, and it will cause a massive consolidation. Similar to competitive bids that the DME [Durable Medical Equipment] market went through in 2009 and 2010, we are going to see a consolidation of a significant portion of the marketplace, creating opportunity for existing players and generating more PE interest. PDGM is a disruptive opportunity for them to execute a rollup strategy and capture a substantial part of the market,” says Smith. 

BROOKLYN PARK, Minn. – Reliable Medical Supply has grown organically to four locations in Minnesota, but with an outside investor now on board, it has set its sights on expanding through acquisition into new geographical markets.

The first area of focus for the company, whose top product categories are complex rehab and vents: buying another company that will allow it to better serve patients in western Wisconsin.

“There are patient access issues out there,” said Debra Kalk, president and CEO. “There are no suppliers serving that area, especially on the vent side. To give those patients access and two-hour response times and 24/7 on-call services, we need to be strategically closer.”

COMMITTED TO CONSTANT IMPROVEMENT?

Want to stay current with trends in the medical/healthcare space as well as receive expert advice of veteran medical entrepreneurs?
SUBSCRIBE TO OUR BI-WEEKLY NEWSLETTER SALIENTVALUE
For over 6 years, we've been teaching ways you can improve the value of your healthcare company, focusing on informing you about mergers + acquisitions, including M+A trends in the healthcare market.
CHECK OUT SALIENTVALUE THE BLOG
No Spam Ever. We Promise
©2021 VERTESS. All Rights Reserved.