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PRIVATE EQUITY INVESTING
In Post-Acute & Home Healthcare Companies

Thu, Nov 7 @ 8:00 am - 5:00 pm

Many Positive Trends Suggest
That Post-Acute & Home Healthcare
Opportunities Will Remain Strong

Private Equity Investing
In Post-Acute & Home Healthcare Companies

Details

Much like a baby boomer who exercises and eats right, the post-acute and home healthcare industry keeps going strong!

According to one estimate, the industry is continuing on a years-long roll, logging 382 deals between 2014 and 2018, up from 278 in the preceding five-year period.

After the sector’s banner year in 2018, perhaps investors can be forgiven for assuming it may be due for a slowdown.  After all, that year included the $4.1 billion acquisition of Kindred-at-Home by Humana and a consortium of PE firms – not to mention the $2.4 billion merger between LHC Group and Almost Family.

But many positive trends support an optimistic view that the industry’s market strength will provide investment opportunities for 2020 and possibly 2021 —

  • Demographic factors continue to be favorable — by 2030, one in every five U.S. residents will be over 65.
  • Acceptance of post-acute care continues to grow — the percentage of inpatients discharged into a post-acute arrangement rose to almost 50% in 2016, up from only 30% in 2006.
  • The shift to a value-based care model – where reimbursement gets tied to outcomes and cost of service – rather than a traditional fee-for-service model.
  • The recession-resistant nature of healthcare.
  • The abundance of opportunities to diversify into new post-acute subsectors or to increase their geographic density.
  • Low supply and high demand for scaled, high-quality platforms.

These trends explain why in spite of high valuations, many investors are doing new deals and building platforms, while more and more new investors are entering the sector.

All the same, pending regulatory changes and moves toward value-based care mean some sub-sectors are facing heavy tailwinds. For instance —

  • Hospice —  Continues to be a top priority for strategic and financial buyers given consistently strong demographic trends, a favorable reimbursement outlook and the attractive organic and inorganic growth inherent in the sector.  Vistria Group recently acquired Hospice of South Carolina, on the tail of its 2017 acquisition of St. Croix Hospice.  HIG Growth acquired Sage Hospice and MBF Healthcare Partners acquired Affinity Hospice in 2018, and Summit is in the process of acquiring Abode Healthcare.
  • Personal Care Services (which entails less skilled services than home health) — Is attracting more interest as some services are now supplemental benefits under Medicare Advantage.  Bain and J.H. Whitney-backed Aveanna Healthcare’s agreement to acquire the home health care division of Maxim Healthcare Services.
  • Home Health — Has tempered a bit due to PDGM, the Centers for Medicare & Medicaid Services’ home health payment reform plan. The Partnership for Quality Home Healthcare has estimated that PDGM could mean $1 billion in lost revenue for home health providers in 2020. However, that doesn’t mean deals aren’t getting done.  For instance, Advent International recently acquired AccentCare.
  • Other adjacent areas — There are also opportunities adjacent to hospice and home healthcare, such as in-home infusion, and service providers like pharmacies and durable medical equipment providers that are providing services to home health companies. In one recent deal, BlueMountain Capital Management became a minority investor in Adapthealth, a provider of home medical and respiratory equipment, prior to the Company going public via a SPAC merger.

Chaired by

Matthew Margulies, Cain Brothers

Matthew Margulies

Managing Director
Cain Brothers / KeyBanc Capital Markets Inc.

Date

Thursday,  November 7, 2019

8:00am – 5:00pm

Location

Midtown Manhattan, NY

Marquee Sponsor

Bass Berry Sims Logo

Showcase Sponsor

Baker Tilly new logo

Register now to gain valuable insights as 20-plus speakers
assess the outlook
for private equity investing in post-acute & home healthcare companies at
The Capital Roundtable’s all-day conference
on
Thursday, November 7, in Midtown New York City.

Key Reasons to Attend

Three Key Reasons Why You Should Join Us

 

  1. Learn which sectors are most positive for investment opportunities
  2. Discuss how to benefit from the move toward value-based care
  3. Hear how other investors identify companies that are growing organically, creating  de novo opportunities, and using M&A
Key Points Being Covered
  • The impact of the new Medicare & Medicaid payment system, referred to as the patient-driven groupings model
  • How Medicare Advantage is covering personal care
  • The rationale for investing in businesses with a strong presence in a particular geographic region
  • Opportunities in hospital-affiliated systems
  • Opportunities in telehealth
  • How investors are upping due diligence in the areas of compliance, payer audit, and governmental investigation
  • Investing in big metro areas versus rural areas
  • New technology that can help businesses streamline operations, such as point-of-care systems for nurse note-taking
  • How to measure improved patient outcomes and reduce  hospital read missions
  • How to use operating partners to make home health investment more successful
  • The characteristics of a strong management team in post-acute and home health
  • Where to look for exits and find strategics that are a good match for portfolio companies
Recent Deals

Recent Middle-Market Deals in the Post-Acute & Home Healthcare Sector

  • Advent International has agreed to acquire Dallas-based post-acute and hospice provider AccentCare Inc. from Oak Hill Partners.
  • Kelso & Company and Blue Wolf Capital Partners have acquired Jordan Health Services, a leading provider of home health and hospice services.
  • The Vistria Group acquired Hospice Care of South Carolina and its subsidiary, Hospice Care of Georgia, which provide hospice and palliative care services to patients across South Carolina and Georgia.
  • H.I.G. Capital, has completed a strategic investment in Sage Hospice, a leading provider of hospice and palliative care services to patients in the Phoenix, AZ market.
  • MBF Healthcare Partners has agreed to acquire a majority interest in Affinity Hospice, a leading provider of hospice care services to patients in the Alabama and Georgia markets.
  • Addus HomeCare Corporation, a provider of comprehensive home care services, has agreed to purchase Hospice Partners of America, a multi-state provider of hospice services headquartered in Birmingham, Alabama.
  • Encompass Health Corp. a national leader in integrated post-acute healthcare services, has agreed to buy privately owned Alacare Home Health & Hospice. Birmingham, Alabama-based Alacare, operates 23 home health locations and 23 hospice locations in Alabama.
Chairperson Info

Matt Margulies leads Cain Brothers’ (a division of KeyBanc Capital Markets) post-acute services advisory practice, including Home Health and Hospice, Home Infusion, Specialty Pharmacy, Distribution, and Respiratory Therapy/DME. Margulies has more than 20 years of healthcare services investment banking experience, advising both public and private companies in a variety of merger and acquisition, capital raising, and strategic advisory transactions.  Prior to joining Cain Brothers in 2004, Margulies was with Lehman Brothers’ Global Healthcare Group.

Among his notable transactions are the sale of Alacare Home Health & Hospice to Encompass Health; the acquisition of Civitas Health Services by Centerbridge Capital Partners; the sale of St. Croix Hospice to The Vistria Group; the sale of Optimal Health Services to Bristol Hospice; the sale of New Century Hospice to Curo Health Services; the sale of  Salveo Specialty Pharmacy to Catamaran; and the sale of BioScrip’s Home Health Services Business to LHC Group..

Who We Are

This Capital Roundtable conference in midtown, New York City, is all-business, all-targeted, all-designed to be a completely focused day of practical information and revealing insights about post-acute & home healthcare companies. You’ll gain valuable insights from —

  • Three informative panel discussions
  • Two revealing keynote presentations
  • Real-world perspectives from company investors
  • Industry outlooks from noted sector experts
  • War stories and lessons learned from experienced hands

Chaired by
  • Matthew Margulies, Managing Director, Cain Brothers / KeyBanc Capital Markets Inc.
Hosted by
  • Burt Alimansky, Chairman & CEO, The Capital Roundtable
Preliminary Speaker List
  • Nick Amigone, Partner, Amulet Capital Partners LP
  • Brian Berkin, Partner, Tailwind Capital Group LLC
  • Mark Borneleit, Chief Executive Officer, DME Express, LLC
  • Dexter W. Braff, President, Braff Group
  • Owen Davis, Partner, Martis Capital
  • Philip Edmunds, Principal, WayPoint Capital Partners
  • Jason Faucett, Director, Transition Capital Partners
  • Eugene Goldenberg, Vice President, Cain Brothers & Co. LLC
  • Christopher Graber, Partner, Waud Capital Partners LLC
  • G. Scott Herman, Chief Executive Officer, Elara Caring
  • Kris Kemp, Member, Bass Berry & Sims PLC
  • Hyrum Kirton, Chief Executive Officer, Bristol Hospice LLC
  • Randy Klein, Chief Executive Officer, Hometeam
  • Vincent J. Lambert, Partner, MTS Health Partners LP
  • Steve J. Larkin, Chief Executive Officer, Charter Healthcare Group LLC
  • Burk Lindsey, Managing Director, Raymond James & Associates Inc.
  • James Pieri, Partner & Head–Private Healthcare, BlueMountain Capital Management LLC
  • Bryan H. Pope, Partner, Edge Healthcare Partners LLC
  • James T. Robinson, Chief Executive Officer, CareFinders Total Care LLC
  • Daniel Savitt, Executive Vice President and Chief Financial Officer, Visiting Nurse Service of New York
  • Rutul Shah, Partner, Birchwood Healthcare Partners
  • Matthew Thompson, Partner, Enhanced Healthcare Partners
  • Jayson Zirman, V.P.–Healthcare Investment Banking, B.C. Ziegler & Co.
7:30am – 8:30am

Networking & Registration & Breakfast

8:30am – 9:00am

Welcoming Remarks & Audience Self-Introductions

9:00am – 9:30am

Conference Chair’s Introduction —

  • Matthew Margulies, Cain Brothers / KeyBanc Capital Markets Inc.
9:30am – 10:30am

First Panel
Trends PE Investors Are Watching in Post Acute Care to Learn What’s Driving the Surge in Deals & Valuations

10:30am – 11:15am

Networking & Coffee

11:15am – 12:00pm

Morning Conversation —
Pros & Cons of Investing in Medicaid-Funded Personal Care Services

12:00pm – 12:30pm

Morning Keynote —

  • Daniel Savitt, Visiting Nurse Service of New York
12:30pm – 1:30pm

Networking & Luncheon

1:30pm – 2:30pm

Second Panel
Hospice Care–Hottest Subsector in Post-Acute Investing — Strong Demographics & Reimbursement Fuel PE Interest

2:30pm – 2:45pm

Networking & Dessert

2:45pm – 3:30pm

Afternoon Conversation
Supporting the Unique Needs of Post Acute Providers —
Durable Medical Equipment & Specialized Pharmacies & Home Health & Hospice Services Companies

3:30pm – 4:30pm

Third Panel —
The Future of Eldercare Investments — New Technologies & Investment Opportunities on the Horizon

4:30pm

Networking & Adjournment

Space at this conference is limited, so register as soon as possible to assure yourself a seat. To avoid disappointment, please contact Chris Agar today to confirm your attendance at 212-832-7300 ext. 0 or cagar@capitalroundtable.com.

Please note that Capital Roundtable limits the number of registrants from a single firm to three.

Best Rate – Early Registration

Save $300 off the standard fee of $1,495 when you register by Friday, September 30. Just $1,195.

Incentive Registration

Save $200 of the standard fee! Register by Friday, October 11, and the fee for the conference is $1,295.

Conference Rate

$1,495 increasing to $1,595 day of conference, space permitting.

Group Rate

$1095 each until Friday, October 11, when you register two or more people to attend from the same company. This rate increases to $1295 each after Friday, October 11.

You can pay by credit card (using the links above or below) or by check. Mail your check and business card to: New York Business Roundtable Inc., 747 Third Avenue, Suite 200, New York, NY 10017.

Can’t attend but want to hear the program? You can buy the audio package along with the handounts.

This event is sponsored by:

Marquee Sponsor:

Bass Berry Sims Logo

Showcase Sponsor:

Baker Tilly new logo

Marketing Partner:

Senior Care Investor Logo

Association Partners:

Data Partners:

Past Attendees 

Accretive

Advanced ICU Care

Ally Financial Inc.

Ascend Learning

Athyrium Capital Management

Aurora Consulting Services

B.C. Ziegler

Barnsdale Capital

Benesch

Bindley Capital Partners

BlackRock Inc.

Blue Wolf Capital Partners

BlueMountain Capital Management

Broadcrest Asset Management

Cain Brothers / KeyBanc Capital Markets

Capital One

CareOne

CareRite Centers

Carlyle Group

CIT Group Inc.

Clairvest Group

Clifton Larson Allen

Concord Health Partners

Cressey & Co.

Dorilton Capital Advisors

Enhanced Healthcare Partners

Extended Home Care

Farragut Square Group

Financo

Foley & Lardner

Halifax Group

Halyard Capital Management

Health Care Navigator

HealthInvest Equity Partners

Husch Blackwell

Irving Levin Associates

Jefferies

Levine Leichtman Capital Partners

LifeWorx Inc.

Lincoln Healthcare Leadership

Lincoln International

MBF Healthcare Partners

McKinsey & Company

McLean Group

MidOcean Partners

New Capital Partners

New State Capital Partners

Pierpoint Capital

Regal Healthcare Capital Partners

Ridgemont Equity Partners

River Cities Capital Funds

Sentinel Capital Partners

Temasek International

Vistria Group

Waud Capital Partners

WayPoint Capital Partners

West Monroe Partners

William Blair & Co.

Zimmet Healthcare Services Group

Details

Date:
Thu, Nov 7
Time:
8:00 am - 5:00 pm
Event Categories:
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Event Tags:
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Contact Us



747 Third Avenue | Suite 200 | New York City | 10017
212-832-7300

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