Intrepid Advises Prime Providers on Its Acquisition of Right Choice In-Home Care

Intrepid announced today that it served as the exclusive financial advisor to Prime Providers (Prime), a portfolio company of The Pine Street Group (Pine Street), on its acquisition of Right Choice In-Home Care (Right Choice). Intrepid structured and negotiated a financing package from Firmament, a New York based investment firm, to support this acquisition. The combined company provides essential skilled nursing and non-skilled respite care to pediatric and adult patients in their homes, drastically improving their quality of life while providing significant cost savings versus in-facility care options.

Prime was built by Pine Street over the past five years through the acquisition and integration of six leading home-based health services organizations throughout California. The Prime Providers platform manages three operating divisions: Inspira Behavior (ABA Therapy & Related Services), Prime Home Health (Private Duty Nursing), and now Right Choice (IDD In-Home Care). Through this acquisition, Prime has become one of the largest home-based health services providers in California.

“This acquisition enhances Prime’s mission to establish itself as an important partner for our key stakeholders – clients, clinicians, and payors” said Jonathan Sassover, Managing Partner at Pine Street. He added, “Linda Weinberg and Don Lucas built Right Choice into one of the largest and most respected IDD in-home care providers in California through tireless dedication to service, and we are committed to continuing this legacy in partnership with them.”

Pine Street Snip 1Michael Davidov, Managing Partner at Pine Street, commented, “The Intrepid team worked tirelessly to enable us to complete this transformational transaction, ultimately structuring and negotiating a capital solution to position Prime for continued success. Their acute understanding of the nuances of our industry coupled with their market reach and relationships attracted numerous capital alternatives at extremely competitive terms.”

Jonathan Zucker, Intrepid’s Head of Capital Advisory, remarked, “The Prime team are true professionals committed to providing best-in-class services in California and beyond. By bolstering their existing platform with Right Choice, they will continue to attract the top in-home care professionals in the industry and further improve outcomes for vulnerable populations.” He added, “Michael and Jonathan were incredible to work with. In addition to being highly sophisticated investors and operators, they are passionate about creating real change for their community. This is only the beginning of their journey.”

“This transaction represents a seamless collaboration between our capital advisory capabilities and the expertise of our healthcare team,” commented Adam Abramowitz, head of Intrepid’s Healthcare practice. “Our ability to bring the full force of the firm to transactions like this is a key differentiator in our industry. We truly appreciate the opportunity to partner with Michael and Jonathan after building a relationship over several years.”

About Intrepid’s Capital Advisory Group

Intrepid’s Capital Advisory Group enables founders, management teams, and financial sponsors to access institutional capital across all forms of debt and equity to execute mission-critical transactions. We are experts at solving complex capital structure needs for our clients, and have global access to capital sources including banks, direct lenders, hedge funds, family offices, and private equity institutions.

About Intrepid’s Healthcare Group

Intrepid’s Healthcare Group provides strategic advice in capital raises and mergers and acquisitions across a broad range of healthcare sectors, including physician practice management, diagnostics and labs, revenue cycle management, behavioral health, outsourced services, IT, pharmacy, post-acute care, and medical devices. Our team maintains extensive relationships with strategic buyers and institutional investors across the dynamic healthcare ecosystem.