All Metro Health Care Services retains bank to advise on sale

This article is provided to FT.com readers by mergermarket—a news service focused on providing actionable, origination intelligence to M&A professionals. www.mergermarket.com
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All Metro Health Care Services, a portfolio company of Brown Brothers Harriman, is being sold through Lazard, three industry sources told mergermarket.

The company, based in Lynbrook, New York, provides home healthcare services in New York, New Jersey and Florida. It had 2011 estimated revenue of USD 105.7m and adjusted EBITDA of 14m, the first source, a private equity investor, said. The second source, an industry banker, said EBITDA is between USD 14m - 15m.

Brown Brothers and All Metro did not respond to requests for comment.

An industry source said some PEs might view All Metro as too risky because the company makes its money mostly from Medicaid and there is a lot of state pressure on Medicaid reimbursements right now.

All Metro is the latest of several healthcare agencies that have been put up for sale. For instance, in October Help at Home, a Chicago-based home care agency for the elderly, disabled and the ill, was put up for sale through William Blair, as previously reported by this news service.

Also last month, Kindred acquired Synergy Home Health, a Boston area home health provider, for an undisclosed sum. Last December, Oak Hill Capital acquired AccentCare, the Dallas-based home health company, for an undisclosed sum, the previous report said.

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