Harris Williams & Co. Advises SunCrest Healthcare, Inc. in its Pending Sale to Almost Family, Inc.

November 5, 2013

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces that SunCrest Healthcare, Inc. (SunCrest), a leading provider of home health services, has entered into a definitive agreement to be acquired by Almost Family, Inc. (Almost Family). Harris Williams & Co. is acting as the exclusive advisor to SunCrest. The transaction, expected to close in the fourth quarter of 2013, is being led by James Clark, Corey Benjamin and Brian Lawson from Harris Williams & Co.’s Richmond office.

“The acquisition of SunCrest adds new geographic coverage for Almost Family throughout the Southeast while also strengthening the company’s presence in Florida,” said James Clark, a managing director in Harris Williams & Co.’s Healthcare and Life Sciences (HCLS) Group. “SunCrest’s excellent clinical reputation, strong presence in its markets and deep relationships with health systems are highly aligned with and complementary to Almost Family’s growth strategy. We look forward to watching the success of the combined company.”

This deal highlights the trend of continued consolidation in the home health industry.  Harris Williams & Co. bankers expect industry participants to continue to position themselves to serve a rapidly expanding patient base in the lowest cost-of-care setting while balancing the need to achieve scale to combat ongoing reimbursement pressure.

Based in Nashville, TN, SunCrest provides home healthcare services to patients.  The company offers nursing, therapy services, social services and personal care with many offices offering in-home psychiatric nursing, IV therapy and chemotherapy. SunCrest operates locations across Tennessee, Alabama, Florida, Georgia, Illinois, Indiana, Kentucky, Mississippi and Pennsylvania.

Almost Family, founded in 1976, is a leading regional provider of home health nursing services, with locations in Florida, Ohio, Kentucky, Connecticut, New Jersey, Massachusetts, Missouri, Illinois, Pennsylvania and Indiana. The company and its subsidiaries operate a Medicare-certified segment and a personal care segment. Almost Family operates more than 167 locations across 10 states.

Harris Williams & Co.’s HCLS Group has experience across a broad range of sectors, including alternate site care; healthcare IT; managed care and cost containment services; medical devices, products and distribution; outsourced clinical and practice management services; and outsourced pharma services.  For more information on the HCLS Group and other recent transactions, visit the HCLS Group website.