NEW YORK—Firmament, a provider of structured equity and debt capital solutions to small- and medium-sized enterprises, announced an investment in Prime Providers ("Prime" or the "Company"), to support the Company's acquisition of Right Choice In-Home Care ("Right Choice"). Prime is a home-based health care organization providing private-duty nursing, applied behavior analysis (ABA) therapy and related services to patients across California. Right Choice provides personal care and respite care services to patients with intellectual and developmental disabilities (IDD) in California.
The combined business provides skilled nursing and non-medical respite care to pediatric and adult patients in their homes, considerably improving their quality of life while delivering cost savings versus in-facility care options.
"The acquisition of Right Choice furthers Prime's mission to establish itself as an important partner for our key stakeholders—clients, clinicians and payers," said Jonathan Sassover, CEO at Prime. "Linda Weinberg and Don Lucas built Right Choice into one of the largest and respected IDD in-home care providers in California through tireless dedication to service, and we are committed to continuing this legacy in partnership with them."
"We look forward to partnering with Firmament as we embark on our next stage of growth," said Michael Davidov, president at Prime. "The home care industry is undergoing meaningful developments and we believe the flexibility and expertise Firmament offers will position us well to achieve our goals and take advantage of various industry tailwinds."
"Patients and their families are increasingly seeking out skilled, high-quality providers that can manage the complex needs of patients with IDDs," said Green Campbell, principal at Firmament. "As payers and patients look for more convenient and affordable home-based care options, we believe Prime will be well-positioned for growth while maintaining best-in-class patient care."
Intrepid Investment Bankers served as exclusive financial advisor to Prime.
