One of the deals responsible for self-directed care momentum in 2022 has been axed.
Special purpose acquisition company DTRT Health Acquisition in September announced a merger with Consumer Direct Holdings. A new aging-in-place public company would be formed, reportedly one worth $681 million.
The deal has been terminated, effective Jan. 11.
Based in Missoula, Montana, Consumer Direct is a national in-home personal care provider offering in-home care assistance and customer service to older adults and people with disabilities who require long-term care and support with activities of daily living.
The transaction was expected to deliver $234 million of cash held in the SPAC’s trust account and up to $150 million in debt financing. Read more.
