September 30, 2013 – Yellow Point Equity Partners II LP (“Fund II”) is pleased to announce that it has successfully exited its investment in We Care Health Services Inc. (“We Care”). On September 30, 2013, Fund II sold its majority stake in We Care to CBI Health Group (“CBI”), a leading Canadian provider of outpatient rehabilitation and community health services.
We Care is a national provider of in-home care and support services with over 50 locations across Canada. Through more than 4,400 care providers and support staff, We Care provides services in over 800 communities across Canada. Both CBI and We Care provide therapeutic services, as well as nursing and personal and social support to persons living in their homes, assisted-living facilities, long-term care facilities, and hospitals.
David Chapman, Managing Partner of Yellow Point Equity Partners said “it was truly a pleasure partnering with the We Care management team. The team did an exceptional job building We Care into a leader in the Canadian homecare sector, and in doing so created significant value for all stakeholders. I am particularly pleased to see that our numerous management co-investors, who risked their own capital in partnership with Yellow Point, have made substantial returns on their investments. In addition, we couldn’t have asked for a better acquirer; we believe that We Care and CBI together will give rise to better health care access and outcomes to people across Canada.”
John Schram, CEO of We Care, added “The partnership with Yellow Point has been beneficial for We Care. Yellow Point was a supportive partner throughout with several creative ideas and strategies that proved instrumental in growing the We Care business. Yellow Point’s capital also enabled us to complete a number of acquisitions, which similarly contributed to our growth. We are looking forward to continuing to provide quality care and positive outcomes for our patients with CBI.”
About Yellow Point
Yellow Point Equity Partners is a private equity investment firm with significant operating and investment experience. It invests in outstanding management teams of later-stage growth companies based primarily in western Canada and aims to be the long-term partner of choice for Canada’s leading mid-market companies. Yellow Point’s approach is supportive, hands-off with respect to day-to-day operations and active when it comes to strategic decisions and board work.
For more information, please contact David Chapman or visit www.ypoint.ca.