Nolan Advised Caring Companions in its Sale to Chemed

DATE: July 01, 1999

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Who is Our Client?

  • Caring Companions, based in Chicago, IL, is a home healthcare service provider.
  • Caring Companions was born out of owners’ passion for parish volunteering as they saw a need in the space, and sacrificed time, invested tremendous effort, and built a great and caring business providing in-home healthcare.

Why Did Caring Companions Hire Nolan?

  • Cultural fit of the successor company was as important to the business partners as was sale price and terms.
  • The owners took pride in treating their employees well, which would be a significant factor in their decision making during the sell side process.

What Value Did Nolan Deliver?

  • Nolan marketed Caring Companions’ culture of caring to generate strong investment interest by several regional hospital organizations.
  • Among the numerous respondents, Patient Care raised interest, but drew a great deal of skepticism from Caring Companions’ owners as they were not already operating in the home healthcare space.
  • Patient Care is a subsidiary of New York Stock Exchange listed Chemed (NYSE: CHE), and Chemed had another subsidiary, Roto-Rooter, a plumbing services company.
  • Despite the doubt from Caring Companions, Nolan organized meetings between the owners of Caring Companions and Patient Care, resulting in an acquisition due to instant synergies and values discovered between the two parties.
  • Nolan offered not only the price and terms but also diligently worked with the owners to find the perfect fit for Caring Companions.

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