Phoenix, AZ – May 8, 2023: Team Select Home Care (“Team Select” or the “Company”), a leading home care platform that provides care primarily to protected pediatric patient populations, today announced a strategic capital investment from Court Square Capital Partners, a middle market-focused private equity firm with $7.4 billion in assets under management. With Court Square’s partnership, Team Select Home Care will be well positioned to continue adding branches in select markets and serving current patients and communities. The existing sponsor, Tenex Capital Management, will continue to own a minority stake in the business.
Headquartered in Phoenix, Arizona, Team Select Home Care operates in 11 states through 39 branches and serves over 7,000 protected patients. The Company currently provides long term, in-home care in the post acute space for both pediatric and geriatric patients. In 2023, the Company celebrated the 15th anniversary of its founding.
“As home care specialists, our patients and their families will always be our primary focus. Our goal has always been to raise the bar on the standard of care our industry provides,” said Fred Johnson, CEO of Team Select Home Care. “Partnering with Court Square is an exciting opportunity because of their deep healthcare knowledge and proven track-record of working with companies similar to ours.”
“When I founded Team Select, I had a mission to dramatically improve the care that patients receive in a post-acute setting. Improving the access to critical care in the home environment serves to avoid hospital visits, drive down costs and ensure our patients’ well being,” said Mike Lovell, Founder of Team Select Home Care. “The team at Court Square understands our unique vision, and is the right partner to ensure we reach our goals.”
Over the last fifteen years, Team Select has grown organically, and through M&A, to address the need for critical and cost-saving home-based care. Through the partnership with Court Square, Team Select is well positioned to complete its next phase of growth.
“Team Select has created a unique and highly specialized platform for home-based care and we are very excited to help the Company accomplish its expansion goals. Since Court Square was founded, we have had a strong record of working with founders, families, and manager-owners to drive value creation, while maintaining the principles of partnership and dedication,” said John Weber, Managing Partner at Court Square. “Team Select has many of the qualities we look for when partnering with healthcare companies and we are eager to leverage our experience and expertise to help the team execute on future growth plans,” added Jeff Abramoff, Partner at Court Square.
Cantor Fitzgerald & Co. served as financial advisor to Team Select.
About Team Select Home Care
Team Select Home Care provides solutions to address both cost and care coordination needs through an industry-leading technology and analytics platform. Established in 2008, Team Select provides solutions to local communities that innovate the home health space. For more information on Team Select Home Care, please visit www.tshc.com.
About Court Square Capital Partners
Court Square is a middle market private equity firm with over 40 years’ experience in the industry. Since 1979, Court Square has completed over 245 platform investments, helping Founders, Families, and Manager-owners to develop their companies into leaders in their respective markets. Court Square invests in companies that have compelling growth potential in the industrial, business services, healthcare, and tech and telecom sectors. Court Square has $7.4 billion of assets under management and is based in New York, N.Y. For more information on Court Square, please visit www.courtsquare.com.
About Tenex Capital Management
Tenex Capital Management is a private equity firm that invests in middle-market companies. Tenex uses an in-house team of hybrid investment professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. For more information, visit www.tenexcm.com.
Vice President, Financial Communications & Capital Market, Edelman
Source: Court Square