Palladium Equity Sells Jordan Health Services
Palladium Equity Partners, a private investment firm with more than $2.7 billion in assets under management, today announced that affiliates of the firm have completed the sale of the parent of Jordan Health Services, one of the nation's largest home care providers, to Kelso & Company and Blue Wolf Capital Partners.
With the completion of the sale, Jordan is being combined with Great Lakes Caring and National Home Health Care to create one of the nation's largest home-based care providers. The new company, which brings together three market leaders and creates a comprehensive care continuum of personal care, skilled home healthcare, and hospice care, will serve more than 63,000 patients and their families daily, employing over 31,000 caregivers across 15 states in 221 locations.
Following its acquisition of Jordan in December 2010, Palladium implemented key elements of its GOL™ value creation framework, focusing on Jordan's growth, operations and leadership. Palladium assisted in the recruitment of senior team members and the build out of an in-house M&A team, supported the company's investment in corporate infrastructure and diversification into new business lines and helped facilitate more than 30 acquisitions. Jordan's related organic growth initiatives and its M&A program expanded the company's service offerings, allowing the company to achieve geographic scale and lead the consolidation in its markets. As a result of these initiatives, Jordan grew into a leading provider of home health and hospice services to approximately 39,000 patients throughout the states of Texas, Oklahoma, Arkansas, Louisiana and Missouri.