We are pleased to announce the successful completion of the sale of Countryside Hospice Care, Inc., a wholly-owned portfolio company of High Street Capital III SBIC, L.P., to SolAmor Hospice, a subsidiary of Sun Healthcare Group, Inc. (NASDAQ: SUNH) on December 29, 2010. Countryside, based in Anniston, Alabama, provides in-home hospice services in 114 counties in Alabama and Georgia.
Countryside was acquired in 2005 through High Street’s third investment fund. Following the acquisition, High Street grew earnings by refining the go-to-market strategy, building out the management team and improving operations to expand rapidly into contiguous markets.
Richard D. McClain, a High Street Capital Operating Principal and Board Member, commented, “The expanded management team at Countryside and High Street Capital forged a strong working relationship that enabled Countryside to capitalize quickly and effectively on the market opportunities available to them. By working together, we were able to create significant value for the High Street Capital investors.”