May 9, 2023
Tenex Capital Management (“Tenex”) is pleased to announce the sale of Team Select Home Care (“Team Select” or the “Company”), a provider of home health care to primarily protected pediatric patient populations.
Since it was founded 15 years ago, Team Select has expanded to now operate in 11 states through 39 branches and serves over 7,000 protected patients. The Company’s mission has been to help patients get accessible and critical care in their homes to avoid hospital visits, with a particular focus on children and elderly patients.
Team Select’s Founder, Mike Lovell, commented, “When I founded Team Select, I had a mission to dramatically improve the care that patients receive in a post-acute setting. Improving the access to critical care in the home environment serves to avoid hospital visits, drive down costs and ensure our patients’ well-being. Throughout Tenex’s partnership, they have kept a laser focus on our mission – our patients have continued to receive superior care and services within their home. I am proud of the business we have built together.”
“Working with Mike and with management, we have helped to integrate an industry-leading technology and analytics platform into Team Select. This has enabled timely critical care for all patients and led to superior healthcare outcomes,” Tenex Principal Ryan MacIntyre remarked.
Tenex Managing Director Varun Bedi added, “The business has scaled under our ownership and become a market leader in its segment. We believe the future continues to be exciting for Team Select and will continue to retain a material stake in the business post sale.”
The transaction closed on May 4, 2023. Cantor served as lead financial advisor to the Company and Dinan Capital Advisors served as co-advisor.
About Team Select Home Care:
Team Select Home Care provides solutions to address both cost and care coordination needs through an industry-leading technology and analytics platform and management of patients across all segments. Established in 2008, Team Select provides solutions to local communities that innovate the home health space.
About Tenex Capital Management:
Tenex Capital Management is a private equity firm that invests in middle market companies. Tenex uses an in-house team of hybrid investment professionals skilled in operational leadership, investing, and capital markets structuring to maximize long-term value creation. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has successfully invested in a diverse range of industries, including industrials, business and tech-enabled services, healthcare, building products, and auto aftermarket, among others.
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