The Corridor Group Is Sold, May Bring New Jobs To Area

January 2013 | Kansas City Business Journal | Brianne Pfannenstiel       Download PDF      Print

HealthEdge Investment Partners has acquired Overland Park-based The Corridor Group in a deal that could bring new jobs to the area.

The Corridor Group provides consulting, recruiting and educational services to the home health and hospice industry. It represents a field positioned for growth as companies seek help implementing the federal health reform law.

"It's kind of bittersweet after 24 years, but it was the plan," said Kathy Dodd, who had owned The Corridor Group. "I'm just very excited about it. It's really wonderful to be a founder of a business, to watch it grow, diversify and then be in a position to sell it." Dodd, who wanted to step back from running the company's day-to-day operations, will remain as a chairwoman emeritus to help with the company's strategic decisions. Jeannee Parker Martin, current president of The Corridor Group, will move into the role of CEO.

HealthEdge Investment Partners is a private equity firm based in Tampa, Florida, that focuses on buying and building up health care companies. It has agreed to supply The Corridor Group with financial and operational resources to help expand the company and its capabilities. The Corridor Group will stay in Overland Park and retain all of its employees.

Tim Skarda, managing director of Allied Business Group Inc., acted as a financial adviser to The Corridor Group in the sale. He said the deal could pave the way for more hiring down the road as the company continues to grow.

"The business is well positioned to benefit from dramatic changes that are going to be taking place in the home care and hospice markets," Skarda said. Skarda said that he was unable to disclose the sale price but that it was "significant."