News

Owl Insights Transaction Announcement

on September 21, 2020

Avondale Partners is pleased to announce that it recently served as the exclusive financial advisor to Owl Insights Inc. (“Owl Insights” or “the Company”) regarding a growth equity financing from a syndicate of investors led by Ascension Ventures and co-led by Blue Venture Fund.  Other participants included First Trust Capital Partners and existing investors, including The Entrepreneurs’ Fund and Portland Seed Fund.

Owl Insights (http://www.owlinsights.com)  is the leading provider of precision-guided care management technology for behavioral health.  Owl’s SaaS platform enables its customers to integrate measurement-based care and clinical analytics into behavioral health treatment workflows.  Its solutions support health systems and behavioral health organizations nationwide to expand access to and improve quality of care, better manage costs, and support the transition to value based care.

The financing will enable Owl Insights to accelerate its strategic growth plans and expand its platform of innovative solutions in behavioral health care.

About Avondale Partners

Avondale Partners is a leading healthcare-focused boutique investment banking firm headquartered in Nashville. We deliver bespoke solutions and superior outcomes to our clients by leveraging our domain expertise, broad transaction expertise and extensive network of relationships. Avondale was founded in 2001 on the belief that high quality, value-added advice from trusted professionals is always in style.

For questions about the transaction or Avondale Partners’ healthcare investment banking services, please contact Jonathan Morphett (615-467-3533; jmorphett@avondalepartnersllc.com), Allison Brown (312-952-2078; abrown@avondalepartnersllc.com), Phil Krebs (615-467-3482; pkrebs@avondalepartnersllc.com) or Pat Shepherd (615-467-3515; pshepherd@avondalepartnersllc.com).

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Generations Transaction Announcement

on October 16, 2019

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).

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HHCET Transaction Announcement

on October 16, 2019

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).

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History

on July 19, 2019

For more than two decades, investment banks have been consolidating or becoming part of large, often global financial institutions. While this may be good for partners and shareholders, we believe the best interests and objectives of clients have often been left out of the equation.

In this environment, senior professionals from Nashville’s investment banking community formed Avondale Partners in June 2001, opening our offices on September 4th, just one week before 9/11. Since our founding, the firm has focused on guiding and serving the changing needs of our clients in a variety of market situations. 

As a testament to our founding philosophy, Avondale has advised clients on over 200 transactions, totaling almost $40 billion. We have had the great fortune to assist companies throughout the US, Europe and Australia, all with one principle in mind – “the client comes first.”

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