Thursday, May 22nd, 2008

Goldman Sachs Urban Investment Group and health care- focused MBF Healthcare Partners have purchased  Omni Home Care LLC, a provider of skilled nursing and therapy-based services.

Goldman Sachs Urban Investment Group and MBF, which will own equal stakes in Omni, used some senior debt financing from Wachovia Corp. (WB) and ORIX Finance Corp., which lends to health-care deals. Other terms weren’t disclosed.

Goldman Sachs Urban Investment Group, which typically invests in companies owned or operated by ethnic minorities or serving markets with large minority populations, liked the opportunity because of Omni’s focus on markets such as Florida with a significant Hispanic population, said William Gonzalez, a vice president with the firm. In addition, the majority of the investment team of co- investor MBF Healthcare is of Hispanic descent

Tuesday, March 4th, 2008

The LA Times reported on Monday that seniors may save money by remaining in their home as they age.

Below are the reported cost averages:

*Average national cost per year of private-room nursing-home care: $77,745*

* Average national base rate per year of assisted-living care: $35,628**

* Average cost per year of one hour per day of home healthcare provided by a licensed practical nurse: $13,468***

* Average cost per year of one hour per day of care provided by a home health aide: $6,916***

*Average nursing home costs in Southern California are closer to $100,000 per year.

**As much as several hundred dollars per month may be added for such services as diabetic care, medication management or additional meals.

***For total costs under these scenarios, housing and living expenses should be factored in.

Source: MetLife, AARP,LA TIMES