VersiCare Group (“VersiCare”) announces the acquisition of Open Doors, a leading provider of residential care and Family Home Provider (“FHP”) services for individuals with developmental disabilities (“I/DD”) under Kentucky’s Supports for Community Living (“SCL”) Waiver program.
The transaction marks the fourth in Kentucky for VersiCare, expanding the Company’s footprint and operational capacity to the forefront of FHP providers in the state. The purchase reinforces VersiCare’s dedication to enhancing the lives of individuals through premium, personalized, home and community-based services.
VersiCare CEO, Lauren Sclesky, expressed her excitement, stating, “Open Doors shares our passion for empowering individuals to lead fulfilling lives. By partnering with Open Doors, VersiCare extends its reach to provide even more comprehensive, top-tier care across Kentucky. We can further achieve our goal of making a meaningful difference in the lives of the communities we serve.”
Matt Pettit from Seven Hills Capital added, “Open Doors’ commitment to a person-centered, team approach for SCL participants aligns seamlessly with VersiCare’s mission. We welcome the Open Doors team into the VersiCare family as we concentrate on fostering best-in-class services in a state we are deeply familiar with across our Partner Companies.”
About Open Doors
Open Doors provides specialized care and independence for individuals with intellectual and/or developmental disabilities through Kentucky’s Supports for Community Living (SCL) Medicaid Waiver. Headquartered in Louisville, the Company specializes in Residential Level II services, also known as Family Home Provider (FHP) or Adult Foster Care. The Company ensures the best home environment for SCL participants using a person-centered approach that fosters long-term relationships and enhances the quality of life in a community setting. For more information, please visit www.opendoorsky.com.
In 2023, the M&A market for healthcare companies continues to build on STRATEGIC opportunities in the current market. The strategic corporate buyers and private equity investors remain committed to acquiring strong businesses that are well prepared for a transaction. Across the continuum of care, these buyers and investors are looking for well established, profitable businesses and offering prime valuations and options for management.
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