Caregiver Inc. to Acquire Mosaic Services in Texas

FORT WORTH, Texas, Dec. 13, 2019 /PRNewswire/ -- Caregiver Inc. (www.cg-idd.com), an intellectual and developmental disability (I/DD) provider based in Fort Worth, Texas, announced it intends to purchase the entirety of Mosaic's (www.mosaicinfo.org) operations in Texas. The transaction was facilitated by VERTESS (http://www.vertess.com), a leading healthcare Mergers + Acquisitions (M+A) advisory firm.

Caregiver currently operates 800 properties in Texas, Tennessee, Indiana, and Ohio and it employs 3,900 people.  Mosaic, based in Omaha, Nebraska, provides services in 10 other states.  The purchase will transition 600 individuals currently in Mosaic's network to Caregiver, which operates under the brands Daybreak, Southern Concepts, St. Giles Living Centers, and Unified Care Group in Texas, by February 15, 2020.

Linda Timmons, chief executive officer of Mosaic, said that tightened disability services funding across the nation has made it necessary to review the sustainability of all Mosaic services and locations. "We believe that the unique challenges Mosaic faces to operate effectively in Texas can more easily be met by an organization like Caregiver, which has a larger and more widespread presence in the state," Timmons said. The purchase of Mosaic's services in Texas marks the 14^th acquisition by Caregiver.

For more information, please contact Rachel Boynton at +1.603.568.9940 or [email protected].

About VERTESS

VERTESS is a healthcare-focused Mergers + Acquisitions (M+A) advisory firm with expertise spanning diverse healthcare and human service verticals, ranging from behavioral health and intellectual/developmental disabilities to DME, pharmacies, home care/hospice, urgent care, life sciences, and other specialized services and products. Each VERTESS Managing Director has had executive experience in either launching or managing and ultimately successfully exiting a healthcare company.

VERTESS is headquartered in Dallas/Fort Worth, with additional offices in Phoenix, Tucson, Los Angeles, Denver, Boston, and Orlando. For more information, visit www.vertess.com.

SOURCE VERTESS