Fulcrum Equity Partners, an Atlanta-based growth equity firm, made a follow-on investment for Nashville-based HomeFirst Home Healthcare with support from existing investors Harpeth Ventures. This follow-on round supported the recent acquisition of CV Home Health in Centreville, Alabama. The investment follows the firm’s initial $11 million investment in January.
HomeFirst has seen consistent growth since its initial investment, with acquisitions in two new markets: North Carolina and Georgia, according to a press release. Building on its existing footprint in Tennessee by expanding where they currently serve, HomeFirst plans to acquire agencies in neighboring certificate-of-need (CON) states. They also plan to extend the spectrum of care and potentially add hospice and other ancillary services.
Although some home health providers favor Medicare or other commercial fee-for-service insurance payers, HomeFirst, in addition, plans to drive efficiency through proprietary software to work with the Medicare Advantage rates which operate on a per-visit payment basis. Read more.
