News

Post Acute Analytics (“PAA”) www.paanalytics.com, a provider of end-to-end solutions that empower healthcare providers and payors to positively impact the total quality and cost of care, today announced the Company has closed a Series B round of funding. The round was co-led by Concord Health Partners, through its AHA Innovation Development Fund, and Dorilton Capital. Existing investors including Generator Ventures also participated in the round.

Post Acute Analytics enables healthcare providers and payors to make real-time decisions that improve patient outcomes while reducing total cost of care through the implementation of artificial intelligence, a turnkey integration engine, and medical leadership. PAA works in conjunction with customers across the healthcare universe including some of the largest health plans, hospitals, and physician groups in the United States. PAA is currently being utilized by over 2,000 providers in the country demonstrating total cost of care reduction of 13.2%.

Saqib Akhter, Co-Founder and CEO of PAA, stated, "I am extremely excited to have the strategic and financial backing of our new investors. The oversubscribed financing round follows many months of continued growth as new customers adopted our cost saving solutions. This is an enormous accomplishment for our organization, and we could not be more excited to welcome the insights from each of our partners. They each bring a unique perspective and expertise that will assist us in continuing to build out our end-to-end solution and proactively assist our customers in delivering high quality care at a lower cost.”

John Taylor, Co-Founder and Chairman of PAA, stated, “The Series B invested capital will be used to further develop and enhance PAA’s proprietary artificial intelligence & technology platform, bolster its management team, and support the Company’s efforts to continue to partner with its clients by sharing in risk as clients increasingly participate in value based health care initiatives.”

“Generator Ventures is pleased to continue to support Post Acute Analytics in helping them to strategize and raise capital to support growth in their real-time data solution for post-acute care. With Dorilton Capital and Concord Health Partners we will continue to advance the company's quality and value proposition for post-acute care patients, providers, and payers,” said Arnie Whitman, Managing Director of Generator Ventures.

James Olsen, Founder and Managing Partner of Concord Health Partners, added, “Concord is focused on identifying and supporting healthcare companies with innovative solutions that lower costs and expand access to quality healthcare. PAA hits our criteria on all fronts and we are thrilled to partner with Saqib and the rest of the team to help build on its already impressive track record of assisting its customers to understand how to deliver better quality care at manageable costs in the post-acute setting.”

Darren Fultz, Co-Founder and Chief Executive Officer of Dorilton Capital, commented, “As long-term investors in the post-acute sector, we are excited to support the continued growth of PAA and appreciate the innovative analytics PAA delivers to its customers to ensure that patients receive the most appropriate and highest quality of care. Our investment in PAA marks the beginning of a selective effort by Dorilton Capital to invest in promising earlier stage businesses that are driving disruptive innovation in targeted sectors.”

Traditions Health, LLC ("Traditions"), a national hospice and home health provider, announced that it has acquired two home health agencies in Oklahoma and two hospice agencies in Louisiana. The home health agencies – Traditions Home Care (“Traditions (OK)”) and Secure Home Care (“Secure”) – will add to a growing footprint and introduce home health capabilities in Oklahoma. The hospice agencies – Grace Hospice & Palliative Care (“Grace”) and Heritage Hospice (“Heritage”) – represent Traditions’ entrance into the state of Louisiana.

Traditions (OK) and Secure, alongside the recent acquisitions of three hospice agencies in the state, will enable Traditions to provide high quality clinical care to a significant and growing portion of the Oklahoma market. The seven acquired locations will extend Traditions’ reach into Eastern Oklahoma, adding offices in and around McAlester and Eufaula. Traditions (OK) was founded in 2002 and combined with Secure in 2015.

Grace and Heritage are leading hospice providers in their respective markets of Lafayette and Hammond, Louisiana. Traditions will enter Louisiana through the acquisition of Grace and Heritage and extend its service provision to a 14^th state.

As a leading provider of hospice and home health services, Traditions offers skilled nursing, therapy services, and both physical and spiritual end of life care. The announcement was made by Bryan Wolfe, the President and CEO of Traditions.  "I am delighted to grow the Traditions family in Louisiana and to deepen our capabilities in Oklahoma through the addition of Eastern Oklahoma’s premier home health agencies. This announcement is a fitting way to cap off what’s been an exciting year for Traditions Health. We look forward to working with the employees and patients of Traditions (OK), Secure, Grace, and Heritage, in the new year and beyond.” said Mr. Wolfe.

Stoneridge Partners acted as the sell-side advisor to Traditions (OK) and Secure. Triavo Health acted as the sell-side advisor to Grace and Heritage.

Traditions Health, LLC ("Traditions"), a national hospice and home health provider, announced that it has acquired Centennial Hospice (“Centennial”), a provider of hospice services in Oklahoma.

The acquisition of Centennial strengthens Traditions’ leading presence in the Oklahoma City market.  Kevin Offel, the President and CEO of Centennial who will be taking on a regional leadership role for Traditions post-transaction, remarked “We look forward to joining the Traditions team where we will continue to provide exceptional care and service to our patients. It has been a great pleasure working alongside the Centennial ownership group, management team and our loyal team of caregivers.  We are excited to continue this journey under the Traditions umbrella.”

As a leading provider of hospice and home health services, Traditions offers skilled nursing, therapy services, and both physical and spiritual end of life care. The transaction announcement was made by Bryan Wolfe, the President and CEO of Traditions.  "I am extremely excited to strengthen our existing presence in Oklahoma. This is an enormous accomplishment for our organization, and we could not be more excited to welcome the employees and patients of Centennial into the Traditions family," said Mr. Wolfe.

Traditions Health, LLC ("Traditions"), a national provider of hospice and home health services, announced that it has acquired Winfield, Illinois based Harbor Light Hospice (“Harbor Light”), a multi-state provider of hospice services.  Harbor Light operates fifteen offices across seven states.  It operates as Harbor Light Hospice in Illinois, Indiana, and Ohio, Hospice Care of the Northwest in Oregon, Hospice Community Care in Nebraska and Virginia, and Texas Start Hospice in Texas. Harbor Light’s management team will remain with Traditions after the transaction. 

The acquisition of Harbor Light strategically expands Traditions’ footprint into several new key markets. The announcement was made by Bryan Wolfe, President and CEO of Traditions.  "We are excited to expand our services to several new regions while simultaneously strengthening our presence in multiple existing markets. Harbor Light shares our mission of providing high-quality care to patients and their families. This is an enormous accomplishment for our organization, and we could not be more excited to welcome the employees and patients of Harbor Light into the Traditions family," said Mr. Wolfe.

Harbor Light is known for delivering care with a philosophy that promotes dignity and emphasizes quality-of-life.  It tailors its services to meet the needs of its patients and families.  Greg Thome, President and CEO of Harbor Light, commented, “We are delighted to have our team join the Traditions family and help Traditions expand its coverage to a national scale. We look forward to integrating our company’s leadership and patient-centric mentality with Traditions. We believe this is a great fit for everyone at Harbor Light and are excited about the opportunity going forward.”

Chuck Brown of Healthcare Consulting, LLC, acted as the sell-side advisor to Harbor Light Hospice on the transaction.

Traditions Health, LLC ("Traditions"), a multi-state hospice and home health provider, announced that it has acquired Physician's Choice Hospice ("Physician's Choice") and Palladium Hospice and Palliative Care ("Palladium Hospice").   These acquisitions will allow Traditions to provide a high quality of clinical care to a broader base of patients.

The acquisition of Physician's Choice and its five locations in Oklahoma, alongside the recent acquisition of Faith Hospice, make Traditions a leading hospice provider in the state. "We are excited to be joining the Traditions family with its strong leadership team, highly regarded brand and leading Oklahoma industry position," said Ginger Barsotti, Founder and President of Physician's Choice.  "Building this company from the ground up has been one of the greatest joys of my life. This partnership will allow us to support our long-term growth initiatives, predicated on our rich history as a private company with a dedicated and loyal employee base."

The acquisition of Palladium Hospice strategically strengthens Traditions' footprint in the southeast.  In acquiring Palladium Hospice, Traditions is adding six locations in South Carolina and two in Mississippi.  Traditions is also bolstering its existing Georgia footprint. "We are proud to integrate our company's experience and leadership into Traditions and helping them fortify their presence in the southeast. We look forward to joining the Traditions team," said Diane Parker, CEO and President of Palladium Hospice.

As a leading provider of hospice and home health services, Traditions offers skilled nursing, therapy services, and both physical and spiritual end of life care. The announcement was made by Bryan Wolfe, the President and CEO of Traditions.  "I am extremely excited to expand our services to South Carolina and Mississippi and strengthen our existing presence in Oklahoma and Georgia. This is an enormous accomplishment for our organization, and we could not be more excited to welcome the employees and patients of both Physician's Choice and Palladium Hospice into the Traditions family," said Mr. Wolfe.

Infinity Capital Partners acted as the sell-side advisor to Physician's Choice Hospice. Stoneridge Partners acted as the sell-side advisor to Palladium Hospice.

Williams Racing has been acquired by Dorilton Capital, bringing a successful conclusion to the Strategic Review which was launched in late May. Dorilton Capital is known for its long-term approach to investment and its key focus will be to restore the competitiveness of the team.  This marks the beginning of an exciting new era in the history of Williams, which with its new owner, is now well positioned to capitalise upon the sweeping rule changes coming into Formula One with the new Concorde Agreement.

As part of the Strategic Review, Williams together with the Group’s financial advisers, conducted a comprehensive review of all the options available to the Company, which included exploratory discussions with a series of potential investors. This strategic review has now successfully concluded and the Company is pleased to announce the sale of Williams Racing to Dorilton Capital. This Transaction received the unanimous support of the Board of Williams, including Sir Frank, who determined the Transaction delivers the best outcome for the Company’s shareholders and secures the long-term success of the Williams Formula 1 team.

Dorilton Capital is a private investment firm headquartered in the United States with a strong track-record of building and enhancing companies with a flexible and patient investment style. Dorilton recognises and appreciates the importance of respecting and retaining Williams’ heritage and culture and is committed to maintaining its identity. The team will continue to race and compete under the Williams brand, with the chassis name remaining unchanged. Dorilton has no plans to re-locate the team from Grove, its traditional home.

The new Concorde Agreement is set to transform the sport and will help address the historical challenges that Williams has faced as an independent constructor, by reducing the financial and on-track disparities between teams and creating a fairer, more competitive sport. The new changes present an exciting opportunity for Williams, which together with the new ownership, will secure the long-term future of Williams at the pinnacle of motorsport.

Claire Williams, Deputy Team Principal, commented: “The Strategic Review was a useful process to go through and proved that both Formula One and Williams have credibility and value.  We have now reached a conclusion and we are delighted that Dorilton are the new owners of the team. When we started this process, we wanted to find a partner who shared the same passion and values, who recognised the team’s potential and who could unlock its power. In Dorilton we know we have found exactly that. People who understand the sport and what it takes to be successful. People who respect the team’s legacy and will do everything to ensure it succeeds in the future. As a family we have always put our team first. Making the team successful again and protecting our people has been at the heart of this process from start. This may be the end of an era for Williams as a family owned team, but we know it is in good hands. The sale ensures the team’s survival but most importantly will provide a path to success. We are enormously grateful to Dorilton for the faith they have shown in our team and we look forward to working with them now. I would also like to thank the Williams Board and our advisers who have worked tirelessly over the past months to make this happen and our employees who have remained steadfastly loyal.”

Mike O’Driscoll, CEO of Williams, commented: “The transaction announced today marks the next stage in the history of Williams Formula 1 at an exciting time in the sport. The Company has successfully completed its strategic review and we are pleased to announce the sale to Dorilton Capital, which delivers a great outcome for shareholders and secures the long term future of the Company.”

Matthew Savage, Chairman of Dorilton Capital, commented: “We are delighted to have invested in Williams and we are extremely excited by the prospects for the business.  We believe we are the ideal partner for the company due to our flexible and patient investment style, which will allow the team to focus on its objective of returning to the front of the grid.  We look forward to working with the Williams team in carrying out a detailed review of the business to determine in which areas new investment should be directed.  We also recognise the world class facilities at Grove and confirm that there are no plans to relocate.”

Traditions Health, LLC ("Traditions"), a hospice and home health provider in Texas, California and Arizona, announced that it has acquired two hospice providers, Faith Hospice of Oklahoma and Embrace Hospice of Georgia. Both providers were part of Diversified Health Care and operate out of a combined ten locations. The multi-state footprint strategically expands Traditions’ presence to Oklahoma and Georgia, allowing Traditions to provide a high quality of clinical care to a broader base of patients across the country.

As a leading provider of hospice and home health services, Traditions offers skilled nursing, therapy services, and both physical and spiritual end of life care. The announcement was made by Bryan Wolfe, the President and CEO of Traditions.  "I am extremely excited to expand our services to Oklahoma and Georgia. This is an enormous accomplishment for our organization and we are very honored to begin caring for patients in these great states," said Mr. Wolfe.

Traditions Health, LLC ("Traditions"), a hospice and home health provider in Texas, California and Arizona, announced that it has acquired Hospice with Grace. Hospice with Grace is a provider of hospice services based in Tomball, TX. Their footprint strategically expands Traditions’ presence in the north Houston area, allowing Traditions to provide a high quality of clinical care to a broader base of patients.

As a leading provider of hospice and home health services, Traditions offers skilled nursing, therapy services, and both physical and spiritual end of life care. The announcement was made by Bryan Wolfe, the President and CEO of Traditions.  "I am extremely excited to extend our presence in Texas and serve the community of Tomball and the greater Houston area," said Mr. Wolfe.

MEI Rigging & Crating, LLC ("MEI"), a leading provider of machinery moving, millwrighting, installation, crating and export packing services, announced that it has acquired Adams Machinery Movers, Inc. ("Adams"). Adams is a provider of machinery moving and storage services based in Ellenwood, Georgia, near Hartsfield-Jackson Atlanta International Airport.

Buddy and Tony Adams founded Adams in 1990 and have grown the business into one of Atlanta’s premier specialty rigging outfits. Adams serves customers in automotive, medical, aerospace, machine manufacturing and other industries.

The announcement was made by Dan Cappello, the CEO and President of MEI. "We at MEI are proud to announce our acquisition of Adams Machinery Movers. We are excited to partner with Buddy and Tony to provide their blue-chip customer base with safe, high-touch machinery moving service in the years to come. Growing MEI’s presence in the Southeast has been a high priority and having the great team at Adams on board is an ideal first step towards achieving that goal."

Buddy and Tony will continue to lead Adams day-to-day under MEI's ownership. “We are extremely happy to have found like-minded partners,” said Buddy. Tony added, “we look forward to growing alongside MEI and adding capabilities to better serve our customers.”

Versa Integrity Group, Inc. ("Versa"), an industry leader in a wide range of non-destructive industrial inspection and testing, has closed a transaction to acquire Element Integrity Group, Inc. ("Element"). Element provides innovative mechanical integrity and non-destructive testing services to the petrochemical industry, including in consulting, program implementation, inspection, verification and testing. Element has over 60 employees across offices in Bartlesville, OK, Karnes City, TX and Houston, TX.

Element was founded by industry veterans Nick Brown and Brandon Revard who have built a team of experienced, specialized asset integrity professionals. Element shares Versa's commitment to safety, quality and customer service. The acquisition of Element will bolster Versa's provision of asset integrity services and expand its presence into Oklahoma and the Eagle Ford.

MEI Rigging & Crating, LLC ("MEI"), a leading provider of machinery moving, millwrighting, installation, crating and export packing services, announced that it has acquired Dunkel Bros Machinery Moving, Inc. ("Dunkel Bros"). Dunkel Bros is a provider of machinery moving and warehousing services based in Los Angeles, California.

Peter and Larry Dunkel founded Dunkel Bros in 1975 and have grown the business into one of the largest machinery moving and specialty rigging companies in the country. Dunkel Bros' state-of-the-art facility is located in La Mirada on 12 acres with over 240,000 square feet of warehouse space.

The announcement was made by Dan Cappello, the CEO and President of MEI. "We at MEI are proud to announce our acquisition of Dunkel Bros Machinery Moving. It is an honor to have been chosen by Peter and Larry as worthy stewards of their business and we look forward to continuing the professionalism and high level of service for which the company is known. Dunkel Bros' reputation in Southern California is second to none and we can imagine no better partner in the state of California."

Peter and Larry will continue to lead Dunkel Bros day-to-day under MEI's ownership.

"Larry and I are excited to work with MEI and begin a new chapter for the company," Peter said. "MEI's commitment to excellence and safety make them a natural fit for Dunkel Bros. We appreciate all the work Dan and his team have done to ensure this transition is seamless for our customers and employees."

Traditions Health, LLC ("Traditions"), a hospice and home health provider in Texas, California and Arizona, announced that it has acquired Guiding Hospice ("Guiding"). Guiding is a provider of hospice services based in Round Rock, just north of Austin. Guiding's footprint strategically expands Traditions' reach in the greater Austin area, allowing Traditions to provide a high quality of clinical care to a broader base of patients. Chris Willis and Kyle Dugan, the owners and operators of Guiding Hospice, will be joining the Traditions team.

As a leading provider of hospice and home health services, Traditions offers skilled nursing, therapy services, and both physical and spiritual end of life care. The announcement was made by Bryan Wolfe, the President and CEO of Traditions.  "I am extremely excited to extend our presence in Texas and serve the community of Round Rock and the greater Austin area," said Mr. Wolfe.