Texas Home Health Holdings, Ltd.
Founded in 1969, Texas Home Health Holdings was one of the largest Medicaid focused home health agencies, in the state of Texas. Two of the principals of PEP participated in the acquisition of the business in the spring of 2000 from the sellers, a husband and wife team that founded and built the business. After 31 years of running the business the sellers were seeking liquidity for retirement and estate planning purposes. Under the direction of the investors including the PEP principals and during their approximate 5 years of ownership, the Company built a strong management team and developed a growth strategy that ultimately resulted in several new offices/market openings and significant additions to the service offering including the rollout of Medicare services to its coverage area. From 2000 through the time of exit growth in profitability exceeded 20% compounded annually. The business was sold in September 2005 for a significant multiple of capital invested.