Buyout augments existing business in Philadelphia, New York and Phoenix markets, adds new markets in Tucson, Melbourne, Fla., and San Antonio
BRENTWOOD, Tenn., June 25 /PRNewswire-USNewswire/ -- INSPIRIS, the Brentwood, Tenn.-based provider of care and care management services for frail and chronically ill seniors, announced that it has reached agreement to acquire Care Level Management of Woodland Hills, Calif. Care Level Management provides physician care and care management services to enrolled patients in their homes on behalf of their respective health plans.
"INSPIRIS has been in the process of expanding our service line offerings to include frail, medically complex patients living in an individual home based setting. This acquisition accelerates our movement into this large, underserved market segment," said Mike Tudeen, INSPIRIS' president and chief executive officer. "This is an attractive move for INSPIRIS, not only because of the significant market presence and service offering expansions, but because the companies are almost identical in terms of delivery model, patient care philosophy and culture."
Care Level Management filed for bankruptcy protection on May 5, largely as a result of the loss of a large CMS demonstration project in December 2007. During the proceedings, INSPIRIS worked closely with Care Level Management's executive team as well as the United States Bankruptcy Court (Central District of California - San Fernando Valley Division), to ensure that services to a very vulnerable patient population were not disrupted.
INSPIRIS' core business focus is improving the quality of life for the frail elderly, the chronically ill and those with disabilities, while reducing the cost to Medicare Advantage, Medicaid and commercial health plans. INSPIRIS nurse practitioner-led teams provide services to enrollees primarily in the nursing home and assisted living settings. INSPIRIS also offers hospice care services in a number of markets.
The Care Level Management acquisition will add 1,600 high risk patients, more than 50 experienced employees, three new geographic markets, expansion of three current markets, and several new health plan customers. The acquisition increases the number of patients under INSPIRIS' care by more than 35 percent.
"This is both a strategic and a synergistic acquisition for INSPIRIS," Tudeen said. "We are delighted to move forward with the addition of Care Level Management's expertise and positive program outcomes. Combined, the two companies offer a broad, very attractive set of services to health plans who are trying to improve quality and lower costs on a very expensive, underserved, subset of their membership. Most importantly, the services make a tremendous difference in the lives of the frail patients, and their families, that we serve."
INSPIRIS is a unique health care management company focused on
improving the quality of life for the frail elderly, chronically ill and
those with disabilities, while reducing the cost to Medicare Advantage
health plans. INSPIRIS partners with individual health plans to coordinate
and provide care across the diverse settings where members need care,
including post-acute, custodial, assisted living and hospice. For more
information about INSPIRIS, visit http://www.inspiris.com.
For further reading about the INSPIRIS way: http://www.inspiris.com/newsarchive/IB_20061214.pdf
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