Generations Transaction Announcement

Avondale Partners is pleased to announce that it recently served as the exclusive financial advisor to Generations Behavioral Health, LLC (“Generations” or “the Company”) regarding their debt recapitalization.

Founded in 2016 by long time business partners Edward Stack, an experienced Nashville-based healthcare executive, and Dr. Zyama Goldman, a practicing geriatric psychiatrist, Generations provides inpatient and outpatient psychiatric services to the adult and geriatric population in northeast Ohio. The Company currently operates two hospitals with a total of 94 beds and an outpatient clinic.

The recapitalization achieved the shareholders’ objectives of monetizing a third party’s investment in the Company, including both the redemption of a minority equity stake and repayment of debt, and ensuring that the Company has the financial flexibility for future growth.

Financing for the transaction was provided by FirstBank as the senior lender and Capital Alignment Partners as the subordinated debt lender. FirstBank is a leading Tennessee community bank with more than $6 billion in total assets. It was founded in 1906 and completed a successful IPO in 2016. Capital Alignment Partners focuses on the lower-middle market and typically invests through subordinated debt securities. It is currently investing out if its third fund. Both firms are headquartered in Nashville.

Contact Information:

For questions about the transaction or Avondale Partners’ healthcare investment banking services, please contact Pat Shepherd (615-467-3515; pshepherd@avondalepartnersllc.com), Jonathan Morphett (615-467-3533; jmorphett@avondalepartnersllc.com), or Neil Herndon (615-467-3529; nherndon@avondalepartnersllc.com).

HHCET Transaction Announcement

Avondale Partners is pleased to announce that it recently served as the exclusive financial advisor to Home Health Care of East Tennessee, Continue Care and affiliates (“Home Health Care of East Tennessee” or “the Company”) regarding their sale to Adoration Home Health & Hospice, a subsidiary of BrightSpring Health Services.

Headquartered in Chattanooga, Tennessee, Home Health Care of East Tennessee was founded in 1983. Since then, the Company has provided skilled home care, hospice and private duty services to patients in East Tennessee, West Tennessee and Mississippi. The sale achieved the shareholders’ objectives of realizing liquidity and ensuring that the Company’s patients continue to receive high quality care.

In addition, the acquisition is a good strategic fit for Adoration Health as it capitalizes on the two companies’ collective footprint throughout Tennessee and Mississippi. Adoration Health serves approximately 1,200 individuals in 24 counties across Middle Tennessee. Home Health Care of East Tennessee serves patients in 17 counties in southeastern Tennessee, 4 counties in West Tennessee and 14 counties in western Mississippi. Adoration Health is a part of the BrightSpring Health Services family of brands.

Contact Information:

For questions about the transaction or Avondale Partners’ healthcare investment banking services, please contact Jonathan Morphett (615-467-3533; jmorphett@avondalepartnersllc.com) or Neil Herndon (615-467-3529; nherndon@avondalepartnersllc.com).