Virginia-based Care Advantage completed the acquisition of Silver Lining Healthcare, Dover.
Silver Lining Healthcare becomes the fifteenth acquisition Care Advantage, Inc. has completed since 2018. It also marks the third acquisition since joining forces with Searchlight Capital Partners, a private equity firm, earlier this year.
Terms were not disclosed,
“Alongside sister companies Capital City Nurses and Coastal Home Care (purchased in 2019), the addition of Silver Lining Healthcare not only underpins the company’s presence in Delaware but also its strategic approach of adding premium in-home care providers to its portfolio,” a release stated.
Care Advantage is eager to continue growing its presence in Delaware and the mid-Atlantic through additional acquisitions in the new year.
The company does not have an office in northern Delaware
Care Advantage is part of a trend toward roll-ups, companies acquiring smaller firms, usually with the backing of deep-pocketed private equity funds. The scaled-up companies have more resources for recruiting caregivers with savings coming from combining business functions.
Tiffany Rubin, RN, Founder of Silver Lining, stated, “We are thrilled to be joining a family of care companies that exemplifies our core purpose: Life to the Fullest. This partnership positions Silver Lining to expand our service offerings and provides more resources and expertise for our team members, as we continue to build on our almost decade of community relationships and extraordinary client care. We’re humbled and fortunate to be a part of making a difference in our community with the Care Advantage team.”