Goals of Owners

  • Desire to sell 100% of stock after building very successful home health services business over nearly 30 years
  • Find acquirer to provide support to tenured senior management team managing a statewide patient population and nurse workforce
  • Find acquirer or partner to provide capital to capitalize on growth opportunities and fund prospective tuck-in acquisition opportunities across State of Arizona
  • Maintain meaningful ownership stake in business to benefit from “second bite at the apple” if attractive rollover equity opportunity available


  • Highly respected home health business providing skilled nursing services to medically fragile pediatric and adult patients with complex medical conditions
  • Majority owner had gradually removed himself from daily involvement in recent years with a seasoned management team in place
  • Majority owner recognized the need to seek assistance from experienced investment banking firm – selected De NES Partners to lead process that would best benefit owners & executive management team


  • De NES Partners approached a targeted group of strategic and financial partners; one-third of groups contacted submitted preliminary offers; four groups selected for final negotiations
  • Vigorous final auction with multiple Letter of Intent submissions
  • Completed transaction with Angels of Care, a strategic buyer with financial backing from Varsity Healthcare Partners, currently investing out of its third fund ($424 million) – assured ample capital and resources to accelerate growth
  • Post-transaction, Nursing Solutions owners retained a meaningful ownership stake in Angels of Care holding company