Houlihan Lokey Advises Abode Healthcare

Houlihan Lokey is pleased to announce that Abode Healthcare (Abode), a portfolio company of Frazier Healthcare Partners (Frazier), has been acquired by Tailwind Capital (Tailwind). The transaction closed on May 1, 2018.

Founded in 2012 and headquartered in Durango, Colorado, Abode is a leading provider of hospice and home health services in attractive, growing markets across 35 locations in 10 states. With an average daily hospice census of over 1,300 patients, Abode operates in Alabama, Arizona, Colorado, Idaho, Indiana, Iowa, Minnesota, Nevada, Utah, and Virginia.

Founded in 1991, Frazier is a leading provider of growth and venture capital to healthcare companies. With more than $4.2 billion in total capital raised, Frazier has invested in more than 170 companies with investments ranging from company creation and venture capital to buyouts of profitable lower middle market companies. Abode was part of the growth buyout portfolio, which includes investments in healthcare and pharmaceutical services, medical products, and related sectors. Frazier has offices in Seattle, Washington, and Menlo Park, California, and invests broadly across the U.S., Canada, and Europe.

Tailwind is a leading middle-market private equity firm focused on growth-oriented investments in targeted sectors within healthcare, business, and industrial services. Tailwind partners with experienced management teams and entrepreneurs to transform businesses through organic growth initiatives, acquisitions, and operational and strategic improvements. Since inception, Tailwind has managed over $3 billion of committed equity capital and invested in 37 portfolio companies and 60 add-ons.

This transaction further strengthens Houlihan Lokey's leadership position in the hospice, homecare, and post-acute care sector. Houlihan Lokey's Healthcare Group is among the largest dedicated healthcare investment banking groups in the country. In 2017, the group closed 21 transactions and was ranked the No. 1 advisor for U.S. healthcare M&A transactions under $1 billion by Thomson Reuters. Houlihan Lokey's Healthcare Group has closed more than 300 M&A healthcare transactions since inception.