Serent Capital Announces Sale of Professional Health Care Network (PHCN)
AUSTIN, Texas & SAN FRANCISCO–(BUSINESS WIRE)–Serent Capital announced the sale of its portfolio company, Professional Health Care Network (PHCN) to The Vistria Group. PHCN is 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 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 supported lives.
Since Serent’s investment in May 2019, PHCN:
– Built out its entire executive team, including adding Brian Sassi as Chief Executive Officer, in addition to a Chief Growth Officer, Chief Operating Officer, Chief Technology Officer and VP Finance
– Materially enhanced its technology stack, migrating back and front office to the cloud
– Expanded its service offering, adding coverage of Medicare Advantage PPO members to its legacy Medicare Advantage HMO and managed Medicaid offerings
– Grew from its home state of Arizona to enter Colorado, New Mexico and Nevada
– Increased its lives covered from 350K to 950K
“PHCN is a fine case study of how Serent’s partnership can help companies to enhance their foundation and thereby drive exceptional growth,” states David Kennedy, Partner Emeritus at Serent Capital. “The impact that Brian and the entire PHCN team have achieved has been truly remarkable. We look forward to seeing their continued success in their next chapter.”
“I have known and admired the Serent team for some time. It was a pleasure to work with them at PHCN, where their partnership was critical in building our strategy and growing our team,” says Brian Sassi, CEO of Professional Health Care Network. “Our ability to triple the lives we serve in such a short time was a testament to the strength of the partnership here between executive team and investor.”
Serent is an active investor in the healthcare market, having invested in over 20 healthcare technology companies in the last 10 years. Recent investments include Raintree System, Procurement Partners, and Hybrent. To learn more about Serent’s partnership with healthcare companies, visit: https://www.serentcapital.com/healthcare/.
About Professional Health Care Network
Professional Health Care Network (PHCN) is a leading home-based clinical care Management Services company empowering patients to remain in the home while receiving care. We support our client’s strategies by improving patient outcomes, reducing the total cost of care, and enhancing Star performance. PHCN successfully works with national and regional health plans as well as downstream at-risk entities serving Medicare Advantage, Managed Medicaid and Dual-eligible populations. For more information about PHCN, please visit https://prohcn.com/.
About Serent Capital
Serent Capital invests in growing businesses with compelling solutions that exceed customer needs. As businesses grow and evolve, the opportunities and challenges they face change with them. The principals at Serent Capital have firsthand experience navigating growth through their experiences as CEOs, strategic advisors, and board members to successful businesses. Serent leverages their expertise and capital to help growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com.
Contacts
Kathleen Rochard
kathleen.rochard@SerentCapital.com
512.639.7492