TAMPA, Fla., June 6, 2024 /PRNewswire/ — HCS-Girling and Pinnacle Home Care today announced a definitive agreement to enter into a strategic partnership linking the care continuum across two unique and growing markets. Based in Brooklyn, New York, HCS-Girling is a leading provider of home health and home care services. Based in Tampa, Florida, Pinnacle is the largest private Medicare Certified provider of skilled home health services in the state. Founded in 2003 by Shane Donaldson, a physical therapist and Pinnacle’s CEO since inception, Pinnacle has expanded over the past 20 years to cover nearly all of Florida with a full suite of home health services, including skilled nursing, PT, OT, cardiopulmonary rehabilitation, wound care, and others.
Commenting on the partnership, Jeffrey and Agnes Shemia, Co-CEOs of HCS-Girling stated, “Pinnacle is an important provider in the Florida market, having established a reputation for excellent clinical quality and a very strong corporate culture. HCS-Girling and Pinnacle both share a unique founding story as clinician-founder-led platforms. We are extremely excited about this partnership and the ability to service patients across geographies, working hand in hand with Shane and the Pinnacle leadership team to provide best-in-class care.”
Shane Donaldson, Founder and CEO of Pinnacle Home Care stated, “Pinnacle and Girling are a perfect match with meaningful cultural overlap. Both businesses are founder- (and clinician-) owned and operated and privately held. Both organizations recently celebrated 20 years of service in their respective communities, an important marker in how far both have come in their journeys as health care providers. Pinnacle looks forward to serving our patients, staff and referral partners for the next 20 years.”
Pinnacle’s Chief Sales Officer Jessica McQuade stated, “Pinnacle and Girling’s partnership is an extraordinary unicorn event, bringing Pinnacle considerable balance sheet strength while maintaining its unique culture, brand and talent. The Girling relationship provides Pinnacle access to referral partnership opportunities to drive our market share in Florida and also expand to neighboring states.”
Pinnacle’s President Michael Froning stated, “We are so proud of our Pinnacle Family and all that we have achieved over the past several years. Growth across the Florida home health market has not come without challenges, including the COVID-19 pandemic, as well as PDGM and RCD. As Pinnacle developed our longer-term strategies, we knew that future growth would require larger capital support, but we actively chose not to follow the path of our competitors to be acquired by a payvider or private equity, or the publicly traded home health providers. This strategic partnership with Girling is a true hand and glove fit that will allow us to continue operating under the Pinnacle brand and keep our true north to our mission, vision and values.”
About HCS-Girling HomeCare
Based in Brooklyn, New York, and founded 20 years ago by Agnes and Jeffrey Shemia, HCS-Girling provides home health and home care services across multiple verticals and geographies.
About Pinnacle Home Care
Based in Oldsmar, Florida, and founded 20 years ago by Shane Donaldson, Pinnacle provides Home Health Care Services across over 80% of the Medicare lives in the State of Florida.
The M&A market for healthcare companies continues to build on STRATEGIC opportunities. 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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