Livingstone’s Healthcare team has advised Connections Northwest, Impact of Oregon, and Thrive Services (collectively, the “Companies”) on their sale transaction to Prime Providers, a portfolio company of The Pine Street Group (“Pine Street”). Livingstone served as the exclusive financial advisor to the Companies. Terms of the transaction were not disclosed.
Headquartered in Oregon, the Companies are premier providers of in-home support services for individuals with intellectual and developmental disabilities (“IDD”). Their comprehensive service offerings include attendant care, community support services, employment services, and respite care. The acquisition establishes a major Oregon presence for Prime Providers, a California-based platform that has rapidly become one of the West Coast’s leading providers of pediatric and adult home-based healthcare services.
“Our priority was finding a partner that would honor and support our ‘customer-first’ mission while providing the resources to reach more families in need across the state of Oregon. Prime Providers and Pine Street share our vision for the future of IDD services, and we are confident that our employees and customers will continue to be in excellent hands,” said Travis Toedtemeier, on behalf of the Companies.
“The addition of these three high-quality organizations represents a significant milestone in our mission to build a leading national in-home healthcare platform,” said Jonathan Sassover, Managing Partner at Pine Street. “Their dedication to delivering in-home attendant care support services that enable individuals of all ages and with all levels of IDD to live a safe, happy, and fulfilling lives perfectly complements our existing mission. We are excited to support their talented teams as we continue to expand our impact across the Pacific Northwest.”
Michael Davidov, Managing Partner at Pine Street, added, “This transaction highlights our commitment to partnering with mission-driven businesses that provide essential services to vulnerable populations. By integrating Connections Northwest, Impact, and Thrive, we are not only expanding our geographic reach but also enhancing our ability to deliver personalized, high-touch care to families throughout Oregon.”
“The IDD and home-based healthcare sectors continue to see robust M&A activity as platforms seek out high-quality, founder-led assets that can serve as regional anchors,” commented Jim Moskal, Partner at Livingstone. “This transaction is a testament to the specialized expertise and market leadership Travis and his team have cultivated. We are proud to have facilitated another important transaction involving an exceptional healthcare platform.”
“This partnership underscores Livingstone’s commitment to achieving exceptional outcomes for entrepreneur-owned healthcare companies,” added Eric Weldzius, Managing Director at Livingstone. “By bringing these three distinct but complementary organizations together under the Prime Providers umbrella, we have created a truly differentiated platform in the Pacific Northwest.”
Livingstone’s healthcare team continues to demonstrate impressive momentum, closing 18 healthcare M&A transactions since 2023 in a deal environment that has been widely reported as uncertain. Livingstone’s healthcare practice remains focused on sub-sectors where the team differentiates via deep expertise, industry knowledge / relationships, and transaction experience. This targeted approach, combined with senior banker-led execution, strong support from talented junior bankers, and a relentless commitment to client advocacy, has resulted in outstanding outcomes.
