In mid-April 2010, Clark McCullough, a partner at Ardent Capital, reviewed the final investment memorandum concerning a possible $110 million investment in AtHomeCare, Inc., a private company providing home health care services. Over the course of the previous year, Ardent Capital had completed preliminary due diligence, and in the fall of 2009, it had signed a letter of intent (LOI) and had been granted an exclusivity agreement to consider a potential purchase of the company. Although the company fit well within Ardent's current areas of investment focus, the deal had been conceived as a rollup strategy, in which AtHomeCare would serve as an investment platform, and other health care services companies would be acquired to build a larger entity. A large portion of the due diligence had focused on finding a suitable acquisition target, but to date no target had been locked in. With the LOI agreement set to expire later in the month, the firm's investment committee would now have to decide whether to proceed with the purchase of AtHomeCare on a stand-alone basis with only the prospects of yet-to-be-determined acquisitions or delay the purchase until an add-on acquisition surfaced.