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PRINT THIS PAGE Parthenon exits AccuMed Home Health13/10/2005. Source: AltAssets. 
 US private equity house Parthenon Capital has announced that it completed the sale of AccuMed Home Health, a home nursing services operator, to TLC Health Care Services Inc.
AccuMed Home Health, headquartered in Austin Texas, provides home nursing and physical therapy services through 36 branch offices located in seven states. The firm was formed in 2001 by Mike McMaude who previously ran the home health operations of Amedisys Inc. In 2004, Parthenon Capital invested alongside management in a recapitalisation of the company to support its growth and acquisition plans.
Mike McMaude - who will become COO of TLC - noted, "We partnered with Parthenon because they not only know healthcare, but they also had a great understanding of home health in particular and could really help us increase the value of the company. Parthenon helped us evaluate strategic decisions, prioritize our options and rapidly capitalize on the best opportunities."
Casey Lynch, a Principal at Parthenon Capital who worked closely with AccuMed added, "We part with Mike and the AccuMed team with mixed emotions; we typically want to build companies for longer periods of time, but the strategic combination with TLC was just very compelling for both sides. The AccuMed investment strategy is a good example of what we do best. Healthcare services is a core focus area for Parthenon and Accumed was an opportunity where our resource-intensive approach could be helpful."
Parthenon Capital is a $1.1bn private equity firm with offices in Boston and San Francisco. They provide equity capital to mid-sized companies with revenues between $50m and $500m with a particular on business/financial services, healthcare, value-added distribution, consumer products and niche manufacturing.
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