Correction: An earlier version of this story incorrectly identified the location of Stay at Home Personal Care’s headquarters as Hampton. It is based in Charlottesville.
Going on the offensive just five months after being purchased by a private equity investor, a local home-healthcare provider has added a Virginia-based company to its portfolio.
Care Advantage has acquired Stay at Home Personal Care, a Charlottesville-based in-home, non-medical care provider, the companies announced earlier this month.
Care Advantage CEO William Mayes said by taking on Stay at Home, the company can better cover parts of the state such as Hampton, Norfolk and Christiansburg.
“We’re going into markets we didn’t have a complete presence in,” Mayes said. “It’s our mission to take care of those who are sick and frail who can’t take of ourselves. This gives us a better presence to do that.”
Mayes did not disclose terms of the acquisition. He said the company may look to expand its services into the Northern Virginia and Washington, D.C. areas.
The acquisition comes months after Care Advantage was acquired by New York-based BelHealth in January.
Details of that acquisition were likewise undisclosed. BelHealth has over $500 million in assets and cites that it typically invests between $20 million and $50 million per company.
Care Advantage was founded in 1988 and serves over 1,000 patients statewide. It provides in-home services similar to Stay at Home, such as companionship, bathing and dressing, as well as skilled care by licensed nurses. Care Advantage has four locations in the Richmond area, including Southside, Colonial Heights, Mechanicsville and the West End, with its headquarters located downtown.