Franklin-based American Health Partners announced last week it has entered into a new ownership agreement to become a subsidiary of the Mitchell Family Office, a Michigan-based firm with significant investments in the health care sector.
American Health Partners is now privately held and operates seven divisions across nine states that provide a continuum of health care services for adults and seniors. Terms of the transaction are confidential, according to a press release.
“This is an important step forward in the evolution of our company,” said Michael Bailey, chief executive officer of American Health Partners. “The past year has been challenging for everyone providing long term care and other health care services to seniors, though we’ve fared better than most.
“This ownership agreement presents an exciting opportunity for American Health Partners. MFO has the expertise and financial resources to build on our strong foundation, fund our strategic plan and enhance our ability to seize new growth opportunities.”
MFO, based in Birmingham, Michigan, has holdings in a variety of businesses and was founded by managing partner, Mark Mitchell, an experienced entrepreneur with a proven track record of building and growing successful health care companies.
“We are very selective on where we choose to invest,” Mitchell said. “With its full continuum of health care services, a strong management team and a growing Medicare Advantage business, we view American Health Partners as a company with tremendous growth opportunities. We see ourselves as the bridge that helps high-potential companies go to the next level.”
The current executive team, led by Bailey along with chief operating officer Robin Bradley and chief financial officer Jeff Bogle, is committed to remain in place to execute the company’s strategic growth plans.
“MFO is the right investment partner at the right time to move our business forward,” Bailey said. “MFO supports our strategy, aligns with our values and shares our vision for the future of American Health Partners.”