BelHealth-backed Care Advantage Adds Eric Rackow and Arthur Laffer to Board

10/23/17

Eric Rackow

Care Advantage, a leading provider of home health services and a BelHealth Investment Partners portfolio company, announced that Dr. Eric Rackow and Dr. Arthur Laffer have joined the Company’s Board of Directors.

Dr. Eric Rackow was most recently President and CEO of Humana at Home (formerly SeniorBridge), Humana’s home healthcare division, which has a national network of more than 10,000 care managers.

Dr. Rackow joined the company in 2007 and ushered the business through several years of private equity ownership before its eventual sale to Humana in 2012. He has nearly 45 years of healthcare experience both in management and as a practicing physician. Prior to his time at SeniorBidge, Dr. Rackow was President of NYU Medical Center and Chairman of the Department of Medicine at St. Vincent’s Hospital in New York.

Dr. Arthur Laffer, BelHealth Advisory Board Member, is the founder and Chairman of Laffer Associates, an economic research and consulting firm that provides services to various institutional investors and corporations. Since its inception in 1979, the firm’s research has focused on connecting macro, political and demographic changes affecting global financial markets. Dr. Laffer has been widely acknowledged for his economic achievements, particularly for the creation of the Laffer Curve. He has been an instrumental part of legislative policy for several decades and is considered by many to be a chief architect of “Reaganomics.” He is currently based in Nashville and maintains an extensive network of healthcare relationships both regionally and nationally.

Wes Perry, Executive Chairman of Care Advantage, said, “We have assembled a world class Board of Directors, and I am thrilled to welcome Dr. Rackow and Dr. Laffer to Care Advantage. Dr. Laffer has always provided BelHealth portfolio companies with invaluable contributions and insight. Dr. Rackow’s operational and leadership experience within home care will help Care Advantage achieve its goal of exponential growth over the coming years. We look forward to utilizing their substantial experience and relationships to build Care Advantage into a premier mid-Atlantic home health business.”

About Care Advantage

Care Advantage is one of Virginia’s largest privately held home healthcare providers. The Company specializes in “one-on-one” quality nursing care in the home and is a one-stop shop for home healthcare services. Corporate headquarters are in Richmond, and there are 16 branch locations throughout the state.

The Company provides “private duty” nursing and personal care services such as bathing, dressing, and companionship and also provides “skilled” services primarily by licensed nurses.

About BelHealth Investment Partners

BelHealth Investment Partners, based in New York, is a healthcare private equity firm focused on lower middle market companies. BelHealth has a unique combination of investing, executive management and entrepreneurial experience. BelHealth acquires majority positions in entrepreneur-owned companies that it believes would benefit from its extensive operating and private equity investment expertise. The firm invests across three core healthcare segments: Services, Products and Distribution. BelHealth is investing from its current $350 million fund.

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