CarePoint expands footprint, eyes further growth
CINCINNATI - April has been a busy month for home infusion provider CarePoint Partners, which added two new companies to its roster.
The provider acquired Infusion Technologies, with locations in North Miami and Tampa, Fla., and Premier Infusion, with locations in Atlanta and Austin, Texas.
With existing locations in Jacksonville, Fla., and the Dallas and Houston markets, both buys allowed CarePoint to expand its footprint in those states, said CEO Dana Soper.
"Those acquisitions really put us into the larger metropolitan areas and allowed us to provide a significant amount of coverage in Florida," she said. "And the acquisition of Premier put us into Georgia, a new state."
The deals are the latest in a flurry of activity for CarePoint, which formed in 2007 and is backed by Chicago-based Waud Capital Partners, a private equity firm. CarePoint currently operates 23 locations in nine states, most under the CarePoint brand.
Growth through acquisition has been CarePoint's goal from the start, said Soper.
"We have a pretty robust pipeline and there are a couple of more (companies) that we are looking at as we speak," she said. "But we will also spend the time, energy and resources to organically grow those that we have bought. We don't want to just buy them and then leave the next day."
When CarePoint considers an acquisition, it focuses not only on geography but also on a company's product and payer mix, whether CarePoint can add value to the organization, and whether that organization's culture aligns with CarePoint's, said Soper.
With national healthcare reform shining a light on cost savings, the home infusion market is well positioned for growth.
"Whether it's through accountable care organizations or some other mechanism, we have been showing, and have data that shows, that we are probably the least costly venue (for health care)," said Soper. "Long term, anything that can be moved outside of the hospital is going to be less expensive."