PHCN becomes newest investment in firm’s push to enhance access to and elevate the value of home health care
CHICAGO, March 30, 2022 /PRNewswire/ — The Vistria Group today announced its investment in Professional Health Care Network (PHCN), a home health care management services company that partners with health plans and providers to increase the access and value of home-based clinical care. The transaction with PHCN represents the fifth investment from Vistria Fund IV, a $2.68 billion fund.
The Phoenix-based company is a leading provider of home health management solutions and care coordination throughout the western U.S. Working in collaboration with major health plans and providers, PHCN has demonstrated a proven track record of providing greater access to home health care in the recovery stages, effectively reducing emergent and long-term institutionalization, and above all, improving the satisfaction and health outcomes of PHCN’s over 950,000 supported lives.
“From selection of the agencies within our network to the timeliness of in-home provider placements, our organization is intentional in everything we do to ensure alignment among payers, providers and patients. As a result, our solutions have lowered readmissions, reduced administrative and care costs and produced a 98% patient satisfaction rate,” says Brian Sassi, CEO of Professional Health Care Network. “Our partnership with The Vistria Group will help us expand those collaborative efforts and continue to provide unique solutions that increase access and quality of home health services and drive success in our next chapter of growth.”
In recent years, the healthcare industry has experienced a significant shift towards value-based care and home-based care delivery, further catalyzed by the effects of the COVID-19 pandemic. Within these sectors, The Vistria Group has understood these opportunities and has been a dedicated investor in both care provision and technology solutions across the home health, home & community-based services (HCBS) and advanced illness sectors.
“Since our founding, The Vistria Group has had a long-standing commitment to driving innovation and increasing access to high-quality, value-based healthcare that’s showcased through our portfolio companies,” says David Schuppan, Senior Partner and Co-Head of Healthcare at The Vistria Group. “The investment in PHCN was a strategic, three-fold decision, geared around increasing access to home health services, in addition to accelerating the shift towards value-based care and creating the premier network of home health providers.”
“We believe in the importance of timely access and high-quality home health services to ensure patients are able to transition effectively from facility-based settings and recover within their homes. Our home health provider partners are critical to the delivery of positive clinical outcomes, the prevention of unnecessary hospitalizations and the reduction in total cost of care. PHCN is the innovative platform that enables the most effective collaboration and comprehensive alignment to value between payors, risk bearing entities and home health providers,” says Brandon Cady, Senior Operating Partner at The Vistria Group. “We look forward to partnering with the PHCN leadership team to support the continued growth and expansion of this important asset.”
“Over the course of the pandemic, the need for home health dramatically increased and as a result, forced the industry to innovate,” says Matt Schulz, Partner at The Vistria Group. “It’s exciting to have the opportunity to enhance the care coordination system through our partnership with PHCN, providing a better network for payors and providers and ultimately, better health outcomes for the lives they serve.”
MTS Health Partners acted as exclusive financial advisor to PHCN on the transaction. TripleTree, LLC acted as financial advisor and Ropes & Gray LLP acted as legal counsel to The Vistria Group on the transaction.
About Professional Health Care Network
Professional Health Care Network (PHCN) is a leading home-based clinical care management services company empowering patients to remain in the home while receiving care. We support our client’s strategies by improving patient outcomes, reducing the total cost of care, and enhancing Star performance. PHCN successfully works with national and regional health plans as well as downstream at-risk entities serving Medicare Advantage, Managed Medicaid and Dual-eligible populations. For more information about PHCN, please visit https://prohcn.com/.
About The Vistria Group
The Vistria Group is a Chicago-based next generation private investment firm that operates at the intersection of purpose and profit. The Vistria Group partners with middle-market businesses in Healthcare, Education and Financial Services that are passionate about growth and committed to the community. Its decision to invest in these areas is driven by its belief in companies producing scalable social value. The Vistria Group’s team is comprised of highly experienced operating partners and investment professionals with proven track records of working with management teams in building innovative, market-leading companies. For more information, please visit Vistria.com.
SOURCE The Vistria Group