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Water Street Health Care Partners Completes Agreement With Gentiva Health Services to Acquire Majority Ownership of CareCentrix
Date:9/25/2008

g his master's degree in business administration from the Wharton School of the University of Pennsylvania.

"Water Street has focused on finding platforms in specialty benefits management since we identified payer services as an attractive investment segment three years ago," said Ned Villers, a partner with Water Street and leader of the firm's payer services initiative. "During this time, we've met with many impressive executives, but Eric stands out as an exceptional leader and the perfect fit for CareCentrix. His direct experience, strategic insight and strong track record of building market-leadership companies make him the ideal CEO for CareCentrix. We are confident that Eric will help the company execute the many growth opportunities that exist in home health care."

Established in 1996, CareCentrix manages home nursing, infusion and medical equipment services for more than 10 million people across the country through a network of 4,000 credentialed home care providers. With the average cost of a home health care visit substantially less than the daily cost of care received in a hospital or skilled nursing facility, home health care has the potential to save patients and payers millions of dollars on an annual basis. The multi-billion dollar industry is projected to experience significant growth over the next 10 years, as U.S. demographics continue to shift to an older population and pressure to reduce health care costs intensifies.

"I am very excited to join CareCentrix at this important point in the company's and industry's evolution," said Reimer. "The CareCentrix team has done an outstanding job of building the nation's most comprehensive home health care management program. The company is now ideally positioned to support managed care organizations that are increasingly searching for new ways to manage costs. Our intention is to build on CareCentrix's strong foundation to transform it into a strategic leader that is proactively helpin
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SOURCE Water Street Healthcare Partners
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