Bridges partners with James River Home Health and Hospice to expand post-acute care platform
Bridges Fund Management announced today its recent partnership with James River Home Healthcare, LLC, the sixth investment made by the Bridges U.S. Sustainable Growth Fund, LP.
James River provides skilled home health and hospice care services to patients in the Richmond, Virginia metro market. The partnership with Bridges will be the first step in building a broader post-acute care platform in both Virginia and surrounding states. Expansion efforts will be realized through both acquisition and opening of new branch offices. James River’s Founder and Chief Executive Officer, Shane Maley, will continue to lead company operations and is retaining a significant ownership stake in the business.
To meet the needs of aging patients and their families, home health and hospice companies need a high-quality caregiver workforce. Together, James River and Bridges have a shared aspiration to create an industry-leading model for quality employment and best-in-class training. By retaining and developing their nursing and caregiver employees, and providing better professional opportunities for this workforce, James River can continually improve the quality of its patient care – which drives better patient outcomes.
James River’s Founder and CEO, Shane Maley stated: “We could not be happier with our new partnership. I recognized after my first meeting with Elizabeth and her team that we all had the same vision for James River. More importantly, the staff and patient experiences would not just stay the same but improve with their expertise on scaling small businesses and provide us with the guidance we need to thrive not only in metro Richmond but across the state and country. We have already hit the ground running.”
Elizabeth Burgess, Partner at Bridges, commented: “It has been wonderful getting to know Shane and his team at James River Home Health while witnessing their integrity and passion for providing quality care for those in need. This is a professional, compassionate and experienced team that we are excited to collaborate with on a growth and expansion plan that will enable them to deliver their high-quality services to more families in the region. We are extremely proud and grateful for the work they are doing each day and we look forward to expanding their service offerings while bringing their quality standards to a broader geography.”
Ed Niemczyk, Investment Director at Bridges, commented: “The continued growth in the post-acute care market has garnered our interest for a number of years. Our search efforts focused on finding a scalable platform, with a high quality and experienced management team, and a top-notch patient care model. The James River organization exhibited these attributes from our first meeting, and we are eager to see this on a larger scale.”
The investment in James River continues to build on Bridges’ experience in the healthcare sector and is the sixth investment from the US fund.
Bridges U.S. Sustainable Growth Fund is a private equity fund providing aligned capital, sector expertise and strategic operational support to U.S. based management teams. Bridges invests in lower middle-market companies operating within the healthcare, environmental service and sustainable manufacturing sectors, with a focus on supporting quality jobs and underserved markets.
James River Home Health and Hospice is a provider of home health and hospice care services in Richmond, Virginia. James River was founded in 2013 and seeks to knowledgeably and compassionately meet the needs of its clients and their families by listening, planning, and delivering individualized home care of the highest quality. www.jamesriverhh.com and www.jamesriverhospice.com
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