AxelaCare Health Solutions has started the new year with an acquisition.
The Lenexa-based home infusion services company in early January acquired Ambient Healthcare, a Fort Lauderdale, Fla. company that offers home intravenous therapies and nursing care in the southeastern United States. Financial terms of the purchase were not disclosed.
The transaction follows AxelaCare’s late 2014 purchase of a home IV therapy company in the New York and New Jersey area.
AxelaCare has been growing at an annual rate of more than 40 percent since it was launched in 2008, the company said in a news release. Acquisitions combined with an aging population in need of home intravenous services have fueled the growth.
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The latest purchase combines Ambient’s 780 employees with AxelaCare’s workforce that numbers 740.
Ambient operates 16 pharmacy locations in Florida, Alabama, Georgia, North Carolina and South Carolina. That now gives AxelaCare 34 pharmacies nationwide offering intravenous solution services.
The company specializes in assisting patients discharged from hospitals and receiving infusion therapies at home. These services include intravenous antibiotics, hydration, nutrition and other services under a nurse’s care.
“AxelaCare’s strategic acquisitions have significantly expanded its market growth in the national home infusion sector, and the company has an efficient, scalable model that should gain wider acceptance as a larger share of the population seeks access to home infusion services,” said Jay Wilkins, senior managing director at Harvest Partners LP, a New York-based investor in AxelaCare.
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