Audax Private Debt Provides Financing to Support Searchlight Capital Partners’ Investment in Care Advantage
Audax Private Debt announced that, as Administrative Agent and Sole Lead Arranger, it provided a unitranche credit facility to support the acquisition of Care Advantage (or the “Company”) by Searchlight Capital Partners (“Searchlight”), a New York-based private equity firm
Founded in 1988 and based in Richmond, VA, Care Advantage offers in-home care services to patients across Virginia, Maryland, Washington D.C. and Delaware. The Company’s personal care aides, certified nursing assistants, skilled nurses and therapists provide individuals and their families with the care they need from the comfort of their homes.
“The Care Advantage team has done an outstanding job building the business and increasing its geographic footprint, and we believe the Searchlight team will bring the right mix of skills and experience to help the Company reach its next level of growth and expansion” said Peter Stern, Managing Director at Audax Private Debt.
About Care Advantage
Care Advantage is one of the leading home healthcare providers in the Mid-Atlantic. The Company specializes in quality “one-on-one” nursing care in the home and is a one-stop solution for home healthcare services. The Company provides a mix of Medicaid and self-pay nursing and personal care services such as bathing, dressing, and companionship and also provides skilled services primarily by licensed nurses and therapists. Care Advantage has over thirty branch locations throughout Virginia, Maryland, Washington D.C. and Delaware.
