Critical Homecare will get new owner

Critical Homecare Solutions Holdings Inc., of Conshohocken, said yesterday that it was being acquired by a publicly traded acquisition company in a stock deal for $420 million.

Critical Homecare, which provides at-home infusion therapy and specialty-infusion services to patients with acute and chronic medical conditions, will remain in Conshohocken.

Under terms of the acquisition, MBF Healthcare Acquisition Corp., of Coral Gables, Fla., will change its name to Critical Homecare Solutions and its stock will continue to be traded publicly on the American Stock Exchange.

MBF is what is known as a "blank-check" company that raises money from investors first and acquires an operating company later. MBF was formed to acquire a health-care business.

The all-stock deal, approved unanimously by the boards of both companies, is expected to close in the second or third quarter.

Critical Homecare has more than 2,500 employees, about 40 to 50 of them in Conshohocken, and another 40 in West Chester.

"As the company continues to grow, our corporate office and presence in Conshohocken will also grow," said Robert Cucuel, who will continue as Critical Homecare Solutions' president and chief executive officer.

Founded in August 2006, Critical Homecare Solutions has grown through eight acquisitions. The company's strategy will be to acquire four to six companies a year, Cucuel said.

Home-care infusion is a $5-billion-a-year market, and growing about 7 percent a year, the firm said. The four largest home-care-infusion companies, including Critical Homecare, represent 25 percent of the market, while the other 75 percent are smaller local and regional companies.

Critical Homecare delivers more than 400,000 infusion pharmaceuticals and related services a year to patients in 14 states, primarily the eastern United States. The company also provides nursing and therapy visits to patients in their homes.