M&A Deal Summary

BrightSpring Health Acquires Abode Healthcare

On April 16, 2021, BrightSpring Health acquired healthcare services company Abode Healthcare from Summit Partners

Acquisition Highlights
  • This is BrightSpring Health’s 7th transaction in the Healthcare Services sector.
  • This is BrightSpring Health’s 8th transaction in the United States.
  • This is BrightSpring Health’s 1st transaction in Colorado.

M&A Deal Summary

Date 2021-04-16
Target Abode Healthcare
Sector Healthcare Services
Buyer(s) BrightSpring Health
Sellers(s) Summit Partners
Deal Type Add-on Acquisition

Target

Abode Healthcare

Durango, Colorado, United States
Abode Healthcare provides a full spectrum of home health and hospice services in attractive, growing markets across the United States. Abode’s service offerings are thoughtfully tailored to patients and families, with focused attention given to individual needs and preferences. Abode Healthcare was formed in 2012 and is based in Durango, Colorado.

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Buyer(S) 1

Buyer

BrightSpring Health

Louisville, Kentucky, United States

Category Company
Sector Healthcare Services
DESCRIPTION

BrightSpring Health Services is a large provider of diversified home and community-based health services to complex, high-cost populations. The company provides nonclinical habilitative services and clinical rehabilitative services for people of all ages and skill levels. Its primary businesses include: behavioral health (including autism services), home health care (including personal care, home health, and hospice), neuro therapy, and job placement and vocational training, supported by pharmacy and telecare ancillary technologies and services. BrightSpring Health Services was formerly known as ResCare and is based in Louisville, Kentucky.


DEAL STATS #
Overall 9 of 12
Sector (Healthcare Services) 7 of 10
Type (Add-on Acquisition) 7 of 10
State (Colorado) 1 of 1
Country (United States) 8 of 11
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-09 ResCare - Health and Human Services

Fort Wayne, Indiana, United States

ResCare, Inc. - Health and Human Services is a provider of a preeminent adult day health services in Fort Wayne, Indiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-18 Pate Rehabilitation

Dallas, Texas, United States

Pate Rehabilitation provides evidence-based physical, occupational, speech/language, and neurocognitive therapies, as well as vocational rehabilitation, to advance and accelerate patient recovery – helping individuals suffering from an acquired brain injury return to the highest quality of life possible. Pate Rehabilitation was founded in 1981 and is based in Dallas, Texas.

Buy -

Seller(S) 1

SELLER

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 254 of 285
Sector (Healthcare Services) 29 of 33
Type (Add-on Acquisition) 113 of 127
State (Colorado) 3 of 4
Country (United States) 224 of 246
Year (2021) 5 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-15 Lingoda

Berlin, Germany

Lingoda is an online language school offering live small group and private classes available 24/7 in four languages - English, German, French and Spanish. Lingoda teaches more than 450,000 classes each year through a community of over 1,400 certified, native-speaking teaching professionals. The company’s structured curriculum includes over 2,000 digital lessons produced in-house by linguistic experts. Courses are designed to empower language fluency, and 97% of Lingoda learners confirm that the platform is more effective than using language apps alone. Lingoda was founded in 2013 and is based in Berlin, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-30 Darktrace

Cambridge, United Kingdom

Darktrace is a provider of cyber defense software that helps enterprises and government bodies protect themselves against advanced attacks and data compromises from within the network. Darktrace's approach allows enterprises to protect their information and intellectual property from state sponsored, criminal groups or malicious employees whom are already inside the networks of every critical infrastructure company. Darktrace combines decades of government cyber threat expertise with world-leading University of Cambridge mathematicians, and software engineers who have experience deploying the largest, most sensitive software. Darktrace was incorporated in 2013 and is based in Cambridge, the United Kingdom.

Sell -