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The Vistria Group Announces Majority Investment in Professional Health Care Network (PHCN)

PHCN becomes newest investment in firm’s push to enhance access to and elevate the value of home health care

Chicago, IL, March 30, 2022
The Vistria Group today announced its investment in Professional Health Care Network (PHCN), a home health care management services company that partners with health plans and providers to increase the access and value of home-based clinical care. The transaction with PHCN represents the fifth investment from Vistria Fund IV, a $2.68 billion fund.

The Phoenix-based company is a leading provider of home health management solutions and care coordination throughout the western U.S. Working in collaboration with major health plans and providers, PHCN has demonstrated a proven track record of providing greater access to home health care in the recovery stages, effectively reducing emergent and long-term institutionalization, and above all, improving the satisfaction and health outcomes of PHCN’s over 950,000 patients.

“From selection of the agencies within our network to the timeliness of in-home provider placements, our organization is intentional in everything we do to ensure alignment among payers, providers and patients. As a result, our solutions have lowered readmissions, reduced administrative and care costs and produced a 98% patient satisfaction rate,” says Brian Sassi, CEO of Professional Health Care Network. “Our partnership with The Vistria Group will help us expand those collaborative efforts and continue to provide unique solutions that increase access and quality of home health services and drive success in our next chapter of growth.”

In recent years, the healthcare industry has experienced a significant shift towards value-based care and home-based care delivery, further catalyzed by the effects of the COVID-19 pandemic. Within these sectors, The Vistria Group has understood these opportunities and has been a dedicated investor in both care provision and technology solutions across the home health, home & community-based services (HCBS) and advanced illness sectors.

“Since our founding, The Vistria Group has had a long-standing commitment to driving innovation and increasing access to high-quality, value-based healthcare that’s showcased through our portfolio companies,” says David Schuppan, Senior Partner and Co-Head of Healthcare at The Vistria Group. “The investment in PHCN was a strategic, three-fold decision, geared around increasing access to home health services, in addition to accelerating the shift towards value-based care and creating the premier network of home health providers.”

“We believe in the importance of timely and high-quality home health to ensure patients are able to both transition and recover effectively within their homes. Our home health provider partners are critical to the delivery of positive clinical outcomes and the prevention of unnecessary hospitalizations. PHCN is the innovative platform that enables the most effective collaboration between payors, risk bearing entities and home health providers and is leading an accelerated shift to payment models that directly align to superior clinical outcomes and value,” says Brandon Cady, Senior Operating Partner at The Vistria Group. “We are excited to partner with the PHCN leadership team to support the continued growth of this important asset.”.

“Over the course of the pandemic, the need for home health drastically increased and as a result, forced the industry to get innovative, an area that The Vistria Group had already been equipped to serve,” says Nick Loporcaro, Senior Operating Partner at The Vistria Group. “It’s exciting to have the opportunity to enhance the care coordination system through our partnership with PHCN, providing a better network for payors and providers and ultimately, better health outcomes for patients.

MTS acted as financial advisor to PHCN on the transaction. Triple Tree acted as financial advisor and Ropes & Gray LLP acted as legal counsel to The Vistria Group on the transaction.