BelHealth Investment Partners has announced it has completed the sale of Care Advantage to Searchlight Capital Partners.
Care Advantage, based in Richmond, Va., offers in-home care services to patients across Virginia, Maryland, Washington D.C., and Delaware. Founded in 1988, the company states that it employs approximately 3,000 personal care aides, certified nursing assistants, skilled nurses and therapists.
BelHealth, based in New York, focuses on lower middle market companies. Founded in 2011, the firm seeks to invest between $20 million and $50 million in healthcare companies providing services and products and distribution.
Searchlight Capital, with its U.S. operations based out of New York, is a private investment firm that operates across North America and Europe. Searchlight Private Equity funds seek to make investments across a wide range of transaction types across a wide range of industries.
Terms of the transaction were not disclosed.