New Medical Home Health Services Company, Sinfonia Healthcare Corporation,
Launched by Providence Service Corp Founding Partners and Former CEO
TUCSON, Ariz., Feb. 28, 2013
TUCSON, Ariz., Feb. 28, 2013 /PRNewswire/ --Fletcher J. McCusker, former CEO
and Founder of Tucson-based Providence Service Corporation (NASDAQ: PRSC), has
launched a new, well funded medical home health services business called
Sinfonia Healthcare. Sinfonia will be based out of an old warehouse in
downtown Tucson, Arizona and will focus on the rapidly expanding home health
industry driven by the changes in the Health Care Affordability Act.
Joining Mr. McCusker will be former Providence CFO Michael Deitch and former
Providence Director of IT Network Operations Jeff Pochily. The aging of
America is driving significant need for coordinated care to patients and
payers across the $90 billion a year home health spectrum. Sinfonia is
designed to provide a full continuum of home health products including:
Hospice, Skilled Nursing, Occupational Therapy, Physical Therapy, Speech
Therapy, Companion Care, Durable Medical Equipment and Pharmacology.
"We want to build a home health care business whose primary focus is on
quality of care, care coordination and patient outcome," stated Fletcher
McCusker founder and CEO. "Most providers of home health are organized
vertically, providing just one type of service. No one is approaching home
health in an effort to operate the full continuum of care. We believe this
creates a great opportunity for consolidation in a very fragmented industry."
In addition to founder equity, Alliance bank of Arizona and Petra Capital of
Nashville have committed to over $20 million of debt designed to fund
acquisitions in the home health care space. Sinfonia has entered into letters
of intent to acquire four Tucson-based home health providers covering the full
home health care continuum of services. The company is simultaneously seeking
opportunities in New Mexico, Florida and California.
Merger and acquisition advisory services are being provided by Signal Hill of
Nashville, whose principals also helped launch Providence Service Corporation
SOURCE Sinfonia Healthcare Corporation
Contact: Fletcher McCusker, Founder & CEO of Sinfonia Healthcare Corporation,
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