Choice Health at Home, a leading regional provider of healthcare services including home health, hospice, and rehabilitation, has closed three acquisitions and expanded services in Texas and into Louisiana and Oklahoma following its partnership with Coltala Holdings, a Fort Worth-based holding company.
The Choice Health at Home investment was the fifth transaction for Coltala Holdings in 2020. Coltala Holdings focuses on acquiring majority ownership in stable U.S. businesses in healthcare, manufacturing, and business services.
“Choice is excited about the opportunities provided through this partnership. Coltala brings business experience that will be supportive in executing our growth plan but also in preserving our patient-centered culture during expansion,” said Trina Lanier, COO of Choice Health at Home.
Choice Health at Home, headquartered in Tyler, is a rapidly growing home health, hospice, and rehabilitation service provider. The company operates from 40 locations in Texas, Louisiana and Oklahoma serving thousands of patients annually via a base of over 800 licensed healthcare employees.
Last summer, Choice announced the acquisition of Home Therapy of Austin, expanding the company’s presence throughout Central Texas, and entered the Oklahoma market via the acquisition of Angelic Hospice in Shawnee, Oklahoma, in January 2021. Additionally, as of June 1, 2021, Choice has purchased Restore Home Health, which operates in Central and Northeast Oklahoma. Restore provides home health services via locations in Tulsa, Edmond, Grove, Stigler, and Muskogee.
The company’s board is comprised of Choice Founder and CEO David Jackson; Ralph Manning, CEO of Coltala; Edward Crawford, President of Coltala; Brad Wiginton, Managing Director of Trive Capital; and Conner Searcy, Managing Partner of Trive Capital.
“We spent a significant amount of time looking for partners that shared our vision for Choice Health at Home,” said Jackson. “Coltala shares both our passion to provide outstanding care and the desire to expand our patient-centered services.”
Choice Health at Home fits Coltala’s goal of building businesses of significance by establishing a foundation where both margin and mission are given equal priority, said Edward Crawford, co-founder and president of Coltala.
“David, Trina, and the Choice team have built a preeminent business with a true mission-focused culture and we are honored to support them as they grow in Texas, Louisiana, Oklahoma and beyond,” said Crawford.
Ralph Manning, co-founder and CEO of Coltala Holdings, added, “David and his accomplished team have done an outstanding job building Choice Health at Home over the past thirteen years and we look forward to working with them to build the premier home health and hospice company in the region.”
Choice Health at Home is currently seeking home health and hospice acquisition candidates in Texas, New Mexico, Oklahoma, Louisiana, and Arkansas.
Coltala Holdings’ HVAC acquisition platform, Trudela Partners, has been an active one for the firm. Last year, the firm acquired Denton-based North Texas Heating and Air Conditioning Inc. and Frisco-based Big Bear Air Conditioning and Heating, giving the platform a geographic footprint covering 75% of the Dallas-Fort Worth area.
“We’re seeing plenty of business this time of year,” said Crawford.
In December 2020 Coltala Holdings announced it has received strategic financial and deal execution support from Trive Capital, a Dallas-based, private investment firm with approximately $2 billion in aggregate capital commitments.
“The partnership will help enable Coltala to execute against its strategy to acquire high-potential companies in the lower middle market with certainty and speed,” Manning said at the time.
Crawford said the firm is actively seeking new investments, particularly in the Fort Worth area.
“This area is growing fast and there is plenty of opportunity,” he said.