Private equity-backed AxelaCare Health Solutions has acquired New York-based Advanced Care for an undisclosed amount.
Advanced Care provides home-based intravenous therapy to patients that have been discharged from hospitals and need intravenous antibiotics, hydration, antiemetic, nutrition, inotropes or other therapies.
AxelaCare, headquartered in Lenexa, Kansas, also provides home infusion therapies. The deal expands the company's reach to the New York and New Jersey metro area. The company is backed by private equity firm Harvest Partners LP.
Harvest, headquartered in New York, focuses on buying manufacturing, industrial services, health care, energy and consumer products and retail businesses. The firm bought AxelaCare in April 2013 from Denver private equity firm Exellere Partners.
The deal is one of several home health care deals we've seen. In August, Genesis HealthCare, a post-acute health care company, and Skilled Health Care Group Inc., which operates skilled nursing facilities, merged. In April, LHC Group Inc. (Nasdaq: LHCG) picked up two home health and hospice centers.
For more on trends in the health care sector, see 5 Technologies Drive Health Care M&A.