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Situation
Professional Healthcare (“PH”) is the leading provider of skilled nursing, rehabilitation therapy, extended care, and private duty home care services to the San Francisco Bay Area region. In 1984, Sherri Burke founded Nurse Providers, Inc. to provide nurse staffing to hospitals and non-medical “private duty” home care facilities. Ms. Burke later acquired Professional Healthcare, a Medicare licensed home health agency, and quickly established it as a Northern California market leader. By 2006, PH served 10 counties, generated $17 million in revenue, and its team completed 65,000 patient visits annually. Understanding the future challenges of scale, Ms. Burke determined it was necessary to bring in a strategic and financial partner to help the company continue its growth.
Mainsail Partners Value-Added
In August 2006, Mainsail Partners acquired a majority stake in Professional Healthcare and its affiliates. C. Jason Payne and Gavin M. Turner joined the Board of Directors and worked with Ms. Burke and management to accomplish the following:
- Recruiting new management team members to support the Professional Healthcare founding team - including a CEO, CFO, and Director of Sales
- Investing in the deployment of point-of-care technology to create a platform for operational scalability
- Negotiating and secured a $10 million credit facility for expansion
- Creating a corporate development program leading to the acquisition of Haven Home Health, a Utah based home care and hospice agency
- Supporting ongoing negotiations for additional acquisition opportunities
- Rebranding the private duty business to enable cross-selling of services
- Building a direct sales model to diversify payor and referral sources
Update
Professional Healthcare is currently experiencing above average industry growth. Through a combination of strong organic growth and disciplined acquisitions, Professional Healthcare is successfully participating in the consolidation of a
$53.1 billion fragmented national market and positioning itself as a leading home healthcare provider in the Western U.S.
“In order for me to continue to grow my business, it was necessary to bring in
a financial and strategic partner. Mainsail’s deep industry expertise, proven entrepreneurial abilities, and value creation skills were exactly what were needed to take PH to the next level. I am excited by the success of our partnership and encouraged by PH’s continued growth.”
--Sherri Burke, Founder of Professional Healthcare
Please visit www.professionalhc.com for more information. 
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