Havencrest Announces Formation Of Non-Medical Home Care Platform

Dallas, TX /PRNewswire/ - Havencrest Capital Management ("Havencrest"), a Dallas-based healthcare private equity firm, is pleased to announce the formation of its non-medical home care platform, Avid Health at Home ("Avid" or the "Company") in connection with its first acquisition of Chicago-based For Papa's Sake Home Care ("FPS").

Founded in 2011 and headquartered in Arlington Heights, Illinois, FPS is a leading provider of non-medical home care in the greater Chicago area. FPS has received multiple awards and accolades for excellence over the years, including being named the #1 agency in North America by Home Care Pulse in 2022, and Havencrest Operating Partner Jen Lentz is the CEO of the Avid platform.

"We are very excited about the creation of Avid as well as our partnership with FPS," commented Christopher W. Kersey, M.D., M.B.A., Founding Managing Partner of Havencrest. "With Jen's leadership and her successful operating track record in the post-acute care marketspace, our investment in FPS represents a strategic entry point into home care and will allow Avid to establish market leadership and expand access to quality care for patients across the Chicago market," Dr. Kersey stated.

According to CEO Jen Lentz, "At Avid, our goal is to establish a platform that provides quality person-to-person care that leverages industry best practices as well as innovative technology. Havencrest is the catalyst to achieve that goal through our shared vision of expanding the critical role that home care plays in the larger heathcare delivery system."

Avid is actively exploring new acquisition opportunities in home care across the Midwest, Mid-Atlantic and Mountain West geographies.

Jett Aubrey, Principal of Havencrest, said, "We believe there is significant opportunity to innovate in home care through a focus on technology, training and quality measures. Home care is increasingly demanding a bigger seat at the post-acute table, and we believe that Avid is positioned to be that provider of choice for patients, providers and payers."

About Havencrest Capital Management
Dallas-based Havencrest Capital Management ("Havencrest") is a healthcare-focused private equity fund with approximately $600M of assets under management (AUM). Havencrest comprises a leading team of investment professionals, Operating Partners and Senior Advisors, including many of the nation's leading healthcare entrepreneurs, corporate executives and public policy experts.

With its unique approach to partnering with founder-owned healthcare companies with EBITDA between $3M - $15M, the Havencrest team has a successful track record in building leading companies that are changing the way healthcare is delivered in America. For additional information about Havencrest, please visit www.havencrest.com