Two Sigma Impact, the impact investing business of Two Sigma, has acquired Circle of Care, a home and clinic-based pediatric therapy provider based in Texas. Circle of Care provides a wide range of pediatric services across seven markets in Texas, including occupational, physical and speech therapy.
“For nearly 15 years we’ve been dedicated to providing quality and compassionate medical care for children and young adults across Texas, and we were honored to heed the call this past year when our services were needed most,” said Jimi Ellis, chief executive officer of Circle of Care. “The COVID-19 pandemic created an incredibly difficult time for both our patients and therapists, and we are so proud of the way we responded,” “Joining forces with Two Sigma Impact will not only allow us to develop new and effective treatment services for our critical patient population but also enable us to invest in the education, training and retention of our valuable and important therapists. The delivery of healthcare has forever changed and we couldn’t be more excited to partner with a like-minded and forward-thinking organization such as Two Sigma Impact to continue to expand our capabilities and broaden our reach.”
“We are honored and excited to partner with a leader in the pediatric care industry who is committed to providing strong and reliable care to an important and vulnerable population,” said Geoff Lieberthal, Partner at Two Sigma Impact. “Circle of Care sits at the intersection of two critical issues – an accelerating need for home health services and a labor shortage of qualified clinicians. The supply shortage has only gotten worse during the COVID pandemic and our country needs nearly one million more home health professionals in the next decade. We plan to invest in the human capital side of Circle of Care to deliver high quality therapy to children at a reasonable cost, and our hope is that Circle of Care can help alleviate the supply constraint in this critical part of the healthcare economy,” Lieberthal said.
The acquisition of Circle of Care is Two Sigma Impact’s third investment since the launch of the business in late 2020, following investments in workforce development provider Penn Foster in November 2020, and leading B2B personal care e-commerce provider Wholesale Supplies Plus in April 2021.
Edgemont Partners served as exclusive financial advisor to Two Sigma Impact, with McDermott Will & Emery and Harter Secrest & Emery serving as legal advisors.