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Transaction Provides Capital to Support Growth for Frontpoint Health, a specialty Home Health and Hospice Platform
— James Nadauld, Managing Partner of Cimarron
SALT LAKE CITY, UTAH, UNITED STATES, October 5, 2022 /EINPresswire.com/ — Cimarron Healthcare Capital (“Cimarron”) and Tacoma Holdings (“Tacoma”), non-public fairness companies targeted on making investments into healthcare corporations within the lower-middle market, right this moment introduced that they’ve recapitalized Frontpoint Health (“Frontpoint” or “the Company”) collectively in partnership with the Frontpoint administration crew and different traders. Frontpoint is a number one house well being and hospice platform targeted totally on servicing Medicare Advantage sufferers within the Texas market. Financial phrases of the non-public transaction weren’t disclosed.
Cimarron and Tacoma tapped former Evergreen Health Executive, Brent Korte, to guide the platform as CEO following the transaction. Korte has a robust monitor report of success and is very reputed within the house care area. A board of trade consultants has additionally been assembled to assist Korte.
“I’m grateful for the trust of my new partners at Cimarron and Tacoma,” stated Brent Korte, “and I’m excited to begin building a differentiated platform focused on connecting the economies of scale of larger platforms with the benefits of local agencies, to thrive as a low-cost provider and to target the growing Medicare Advantage market.”
The funding will probably be used to assist natural progress, drive synergy alternatives between the Company’s house well being and hospice companies, and to finish strategic acquisitions, all in response to important demand from the Medicare Advantage market.
“We’re very optimistic about Frontpoint’s future behind a proven industry executive in Brent Korte,” stated James Nadauld, Managing Partner of Cimarron. “Cimarron’s active investment thesis in post-acute care, coupled with its long-standing relationship with Tacoma, positions us to be value-added partners to Brent and his team.”
“As Medicare Advantage continues to be the future of Senior Care, we’re confident in Frontpoint’s differentiated business model and executive leadership team to execute on this significant opportunity,” stated Nick Smith, Principal at Cimarron.
“Frontpoint can depend on its capital partners for support given the alignment between Cimarron and Tacoma, the high-quality board of directors we’ve assembled, and the decades of collective healthcare expertise around the table,” stated Matt Komenda, Managing Partner and Founder at Tacoma Holdings.
Home Health performs to some of the most important structural tendencies inside healthcare: getting old demographics, elevated prevalence of power illnesses, intense deal with lowest-cost venues of care, and long-term shift in direction of value-based care. Hospice and private care providers (PCS) proceed to experience favorable financial and demographic tailwinds and are logical extensions of the core house healthcare business mannequin.
About Cimarron
Cimarron Healthcare Capital is a Salt Lake City-based non-public fairness agency targeted solely on healthcare investments within the decrease middle-market. Cimarron’s skilled funding crew and trade area experience aligns its funding technique with its portfolio corporations’ progress and enlargement wants, creating an ecosystem designed to maximise worth. For extra data, please go to: www.cimarronhc.com.
About Tacoma
Founded in 2020, Tacoma Holdings is a personal fairness agency targeted on founder-built healthcare corporations in high-growth markets. Tacoma pursues a hyper-thematic and operationally intensive method to its investments and surrounds its corporations with a crew of world-class operators on the board of director degree. For extra data, please go to: www.tacomaholdings.com.
About Frontpoint Health
Frontpoint Health is a number one healthcare providers firm targeted on offering the continuum of care within the house to the senior inhabitants. Through shut integration with its well being system and well being plan companions, Frontpoint delivers superior affected person well being outcomes whereas minimizing complete spend to the healthcare system. Frontpoint is one of largest and fastest-growing house well being and hospice corporations within the United States. For extra data, please go to: www.frontpointhealthcare.com.
Matt Stoker
Cimarron Healthcare Capital
[email protected]
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