For Immediate Release
SALIX VENTURES ANNOUNCES SALE OF ACCENTCARE, INC.
ANDOVER, MA (November 15, 2010) -- Salix Ventures announced
today the sale of AccentCare, Inc. to a wholly-owned subsidiary of Oak
Hill Capital Partners. Oak Hill is a private equity firm with over $7 billion
of committed capital under management. AccentCare, based in Irvine, California,
is one of the largest home health companies in the country, providing home
nursing services as well as in-home custodial care. AccentCare provides
services in California, New York, Arizona, Colorado, Washington, Oregon
and Ohio. Terms were not disclosed.
Salix Ventures invested in AccentCare's Series A Preferred stock financing
in March 1999 and participated in every financing round thereafter. Chris
Grant, a principal of Salix Ventures, served as Salix's designee on AccentCare's
Board of Directors.
According
to Mr. Grant, "Salix is pleased with
this transaction and believes that Oak Hill has
acquired a valuable asset that will serve as a great platform for their
consolidation of
this industry. We wish
AccentCare President and CEO Biff Comte and his team
the best of luck with their new owner and thank
him
for his efforts on our behalf. "
About Salix Ventures
Salix Ventures manages two venture capital partnerships with approximately
$180 million in capital commitments from limited partners. With offices
in Andover and Nashville, Salix Ventures invests exclusively in health
care services companies.
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