Care Benefit introduced Tuesday that it has acquired Nova Dwelling Well being Care. The acquisition expands Care Benefit's footprint in Northern Virginia – a market that CEO Tim Hanold believes is vital for present and future development.

Monetary phrases of the deal weren’t disclosed.

“Northern Virginia is without doubt one of the most populated areas within the state,” Hanold advised Dwelling Well being Care Information. “We’ve got made quite a few acquisitions there over time. We proceed to increase our density, in addition to the variety of each the payer supply and the communities we serve inside that space. Northern Virginia is a part of the Metropolitan DC space and is a really numerous market. We wish to make certain we strategy that in a sensible and culturally delicate manner.”

Richmond, Virginia-based Care Benefit is a house well being care firm with greater than 45 places in Virginia, Maryland, Delaware, Washington, DC and North Carolina. The corporate affords each private care and residential care companies.

Finally, Nova Dwelling Well being Care is a private care firm that serves the Medicaid inhabitants. The corporate has hyperlinks with a lot of totally different communities that make up the various inhabitants within the space.

“They’ve actual deep market penetration within the Vietnamese group, but additionally within the Latin American and African American communities,” Hanold stated. “We actually like the general focus, data and cultural understanding of how we will serve these communities.”

Nova Dwelling Well being Care was additionally a lovely acquisition goal resulting from its total experience and efficiency.

“They’re extremely compassionate and work in a really good, skilled and efficient method,” Hanold stated. “We actually preferred them. Ali Abdi, one of many founders, merely is aware of his commerce. He is aware of it very nicely and you’ll see that high quality is essential for this group.”

Abdi, who’s CEO of Nova Dwelling Well being Care, believes this partnership will allow the corporate to additional speed up.

“This partnership with Care Benefit provides us the instruments and assets to take our service providing to the subsequent degree,” he stated in a press assertion. “Care Benefit's tradition felt like an incredible match from the beginning – we each convey the identical form of care and compassion to the desk. I do know that is the suitable path for Nova Dwelling Well being Care, and I can't let you know how excited I’m to see the place this takes us.”

In whole, Nova Dwelling Well being Care is Care Benefit's nineteenth acquisition since 2018.

Going ahead, mergers and acquisitions will proceed to play an vital position in Care Benefit's development technique.

“We’ve got a balanced development plan between natural and inorganic, however on the M&A aspect we’ll stay fairly acquisitive,” Hanold stated. “It's an vital a part of how we enter new markets and increase our capabilities within the present markets we serve.”