Housecall Medical Resources

Housecall Medical Resources, Inc. (“Housecall”), headquartered in Nashville, TN, developed into a multi-service-line home healthcare platform with strong geographic coverage in Tennessee and Florida, particularly in their rural markets. Housecall employed approximately 3,000 full and part time, largely female staff and served primarily elderly patients covered under the Medicare and Medicaid benefits. EDG purchased Housecall in 2002 from the Adventist Health System and exited the investment in two transactions, selling the Respiratory Therapy and Infusion business to Apria Healthcare in 2004 and the Homecare and Hospice business to Amedisys in 2005 for aggregate returns of 173.7% Gross IRR and 10.4x cash on cash multiple.

EDG drove significant change over its short two and a half year holding period, growing the core business EBITDA at a 26% CAGR. As significantly, EDG recruited a full executive team, launched new compliance and clinical programs and initiated significant employee development investments, including implementation of Housecall University. Housecall serves as an excellent model for EDG’s strategy of identifying undermanaged business in overlooked areas and applying its hands-on expertise to build significant value.