The acquisition of Hospice Corporation of America by Kain Capital’s PERA Holdings serves as a foundation for the firm’s investment strategy in the hospice and palliative care sectors.
Kain Capital LLC, has announced the first acquisition of its new holding company for hospice investments, PERA Holdings.
PERA Holdings has been established by Kain Capital to make a series of investments in regional hospice companies where existing managers are seeking advanced technology capability, capital, and operating improvements to enhance and grow their offerings.
Kain Capital is a private equity firm focused on investments in healthcare services and information technology companies.
The company announced in a press release that PERA has now completed its acquisition of a majority stake in Hospice Care of America (HCA) located in Kansas City and operating a group of affiliated hospices in Kansas, Missouri, Oklahoma and Colorado.
PERA Holdings will continue to partner with outstanding regional hospice operators to create the highest level of quality hospice service offerings on a national scale.
PERA companies will benefit from the adoption of innovative information technologies to improve the clinical quality and delivery of services, minimise administrative requirements of clinical professionals, and automate much of the billing, compliance and regulatory management functions.
PERA will also work with strategic industry players to integrate PERA hospices’ services with other partners’ offerings.
Steven Yecies, managing partner of Kain Capital, said: “We are excited to bring several of the innovations that Kain Capital has driven in other areas of healthcare to hospice.
Kris Stice has been named CEO of PERA Holdings and will lead a team of hospice industry veterans to build a world class shared services organisation to benefit the regional operating companies.
“Our team is passionate about our calling and how we can help our partners impact patients and families at a time when they really need assistance in their journeys,” said Stice.
“The acquisition of HCA is a first step in PERA’s strategy to create a best-in-class hospice and palliative care services provider with a national footprint.”
The founders of HCA, Phil Hill, Janet Rogers and Russ Rogers, will remain in their current roles and remain equity owners in the business.
They will work with the PERA management team to accelerate HCA’s growth within its geographic footprint.
Kunal Kain, Founder and Managing Partner of Kain Capital, added: “We see an opportunity to serve our communities while making a positive impact in an emerging area of healthcare. We find unique ways to build teams that bring together the right elements of people, experience, capital, passion and innovation to build world class healthcare companies.”
