Transactions: BrightStar Acquires Iowa Agency

BrightStar Care Acquires HomeChoice Senior Care

Chicago-based BrightStar Care, a national in-home care franchise provider, has acquired HomeChoice Senior Care, a home care agency based in Iowa. HomeChoice is operating as BrightStar Care as of April 1.

HomeChoice was founded in 2009 and is led by executive director Koleene Herlocker. The company provides non-medical home care, housekeeping and 24-hour assistance in Cedar Rapids, Iowa City, Des Moines and surrounding communities.

Prior to working with HomeChoice, Herlocker owned and operated several Sylvan Learning Centers across Iowa before transitioning to become a consultant for small- to medium-sized businesses throughout the United States. She became owner and executive director of HomeChoice Senior Care in 2009.

BrightStar has more than 330 locations in the U.S. and Canada.

Denver-Based Select Home Care Sold

Select Home Care, a home care provider based in Denver, Colorado, with more than 80 clients, has been sold for an undisclosed price

Blueprint Healthcare Real Estate Advisors represented the seller in the deal. The transaction was led by Hayden Behnke and Pamela Pyms.

Acuity Link Partners with Lyft

Acuity Link and Lyft have partnered up to run more efficient non-emergency medical transportation systems (NEMT) for hospitals and other medical care providers. Acuity Link operates a HIPAA-compliant NEMT logistic management dashboard that now supports Lyft’s ride-hailing functionality.

With Lyft integrated into Acuity Link’s software, patients being discharged from any health care provider who do not need special transportation accommodations have the option to be discharged through this service. Providers can arrange one-time or recurring non-emergency rides for homebound or inbound patients.

Acuity Link was founded in 2015 and is headquartered in Massachusetts, serving various health care institutions.

Nova Leap Acquires Eastern Canada Home Care Company

Nova Leap Health Corp. (TSX NLH) acquired a private home care services company located in Eastern Canada “from an arm’s length party.” The acquisition of shares is to be made for total consideration of $2.144 million, of which $1.875 million is payable with cash on closing and $0.269 million is by way of a promissory note repayable over a two-year period.

The company reported unaudited revenues of approximately $2.42 million, net income of $0.14 million and adjusted EDITBA of $.043 million.

Closing the acquisition will be subject to financing, final due diligence and TSX Venture Exchange approval. Upon closing, Nova Leap’s annual revenue run rate is expected to approach $11.4 million, an approximate 63% increase over the current run rate.

Written by Amy Baxter