On July 1, Gordon Rees Scully Mansukhani Raleigh attorneys Robert Shaw and Justin Puleo and Miami attorney Brooks Miller closed a $5 million acquisition of Suncoast New Options by client Community Based Care. Suncoast is a company serving people with intellectual and developmental disabilities (I/DD) with five locations in Florida. Community Based Care is a private equity-owned holding company with offices in New York, North Carolina, and Florida that invests in high quality health care providers with a focus on the I/DD population. Gordon & Rees attorneys assisted with all phases of the deal, including negotiation, due diligence, regulatory issues, drafting, and financing through a loan facility with SunTrust. Also on July 1, Robert Shaw and Justin Puleo closed a $1.2 million asset purchase by Community Based Care of an I/DD company based in North Carolina.
In connection with the Suncoast acquisition, Mike Kotzen, President of Community Based Care, said in a press release, "As part of CBC's vision to be chosen by more families as the highest quality provider of I/DD services, we are continuing to grow a regional presence with agencies who are market leaders in the delivery of community-based services and who share our values. Suncoast has demonstrated a proud history of both and we are proud to welcome them to the family." Community Based Care serves more than 1,500 clients in North Carolina and Florida and employs nearly 2,500 talented and committed care givers. CBC provides state of the art training, benefits, 401k and electronic health records to best serve our employees and clients.