Houlihan Lokey Advises Abode Healthcare (2)

Houlihan Lokey is pleased to announce that Abode Healthcare, Inc. (Abode), a portfolio company of Summit Partners (Summit), has been acquired by BrightSpring Health Services (BrightSpring), a portfolio company of KKR. The transaction closed on April 16, 2021.

Headquartered in Durango, Colorado, Abode Healthcare is one of the nation’s leading providers of home health and hospice services with 41 branches across 12 states. Abode provides the full spectrum of home health and hospice treatment, thoughtfully tailored to patients and families, with focused attention given to individual needs and preferences. In combination with BrightSpring’s existing home health and hospice business, the company’s expanded footprint in the segment now spans 17 states.

Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $23 billion in capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 500 companies in technology, healthcare, and other growth industries. These companies have completed more than 160 public equity offerings, and more than 200 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and invests in companies around the world.

BrightSpring Health Services is the leading provider of complementary home- and community-based pharmacy and health services for complex populations in need of specialized and/or chronic care. Through the company’s lines of business, including pharmacy, home health, hospice, personal care, neurorehabilitation, pediatric therapy, behavioral health, family and youth services, and workforce development, it provides comprehensive and specialized care and clinical services in 50 states to over 360,000 customers, clients, and patients daily.

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies.

Houlihan Lokey served as the exclusive financial advisor to Abode. This transaction further strengthens Houlihan Lokey’s leadership position in the hospice and homecare sector, having advised on 10 transactions in the past three years. It is also another example of the firm’s long-term approach to client partnerships.

Houlihan Lokey’s Healthcare Group is among the largest dedicated healthcare investment banking groups in the country. In 2020, the group closed 22 transactions and was ranked the No. 1 M&A advisor for U.S. healthcare transactions under $1 billion by Refinitiv. Houlihan Lokey’s Healthcare Group has closed more than 300 M&A healthcare transactions since its inception.