As one of the fastest-growing sectors in the United States, home health care is teeming with business activity. Here are some of the industry’s latest investments, acquisitions and partnerships:
American Advisors Group Partners With Home Care Franchisor
American Advisors Group (AAG), the nation’s leader in reverse mortgage lending, recently announced its partnership with Visiting Angels, the top franchisor of in-home assisted living services for seniors in the United States.
AAG is the only preferred reverse mortgage lending partner for Visiting Angels’ senior clientele.
Visiting Angels has more than 500 non-medical, private duty home care agencies throughout the U.S. The company provides a range of non-medical elder care services with a mission of helping seniors continue to live in their own homes.
“We are excited to enter into this new relationship with a trusted company like AAG,” said David Plank, vice president of business development for Visiting Angels, in a statement. “Our organizations share a common goal of helping seniors age in place with the dignity and care they deserve.”
The partnership allows Visiting Angels’ clients to learn more about retirement planning options that may help them live more independently.
“Our regional sales force will work closely with local Visiting Angel franchisees to help guide senior care recipients through the reverse mortgage conversation,” said Kevin Blakeney, senior vice president of AAG’s national field sales team. “Visiting Angels’ clients and their adult children will learn about the numerous benefits of reverse mortgage and how this powerful retirement planning tool can help fund the vital in-home services seniors need to live as comfortably as possible.”
Procura Acquires Igea Home Health Care Software Solution
Procura — a multi-national provider of software and solutions to home health agencies, community care agencies, hospice and residential care agencies — has acquired Indura Software, Inc., the developer and owner of the Igea home health care software solution.
The Igea system was launched in 2003, offering cloud-based health care solutions with clinical forms, integrated software solutions, and embedded Medicare service management capabilities.
Established in 1989, Procura began providing in-house home care solutions, increasing its market share over the next 25 years through a combination of organic growth and strategic acquisitions, including the earlier purchases of Progresa and ContinuLink.
“With the follow-on addition of PeoplePoint in 2013 and Igea today, Procura has quickly become a software vendor of choice for home, community and aged care organizations throughout North America and Australia,” said Scott Overhill, Procura’s CEO and chief technology officer, in a statement.
With the addition of Igea to Procura’s portfolio of home care software solutions, Procura can now provide a breadth of software solutions, including SaaS offerings, and services that are necessary to meet all current customer requirements while retaining customers throughout their business life-cycle, from small start-ups to multi-site locations, including franchise organizations in the United States, Canada and Australia.
Medical Center Acquires Home Health Provider
Ephraim McDowell Health has recently acquired McDowell Home Health in Danville, Ky., according to local reports.
McDowell offers a range of services, including skilled nursing care, physical, speech and occupational therapy, and employs certified home health aides, who assist with basic home needs.
Capital City Nurses Expands With New Office Location
Capital City Nurses (CCN), one of the Mid-Atlantic’s largest home care companies, has announced recently the opening of a new office location in Severna Park, Md., that will serve the Baltimore and Annapolis areas.
The office will also welcome potential caregivers for interviews, training and orientation.
Dayton Home Care Company to Moves to Larger Space
Lavender Home Care Solutions, based in Dayton, Ohio, has signed a five-year lease for a 2,200-square-foot office in Centerville, Ohio, and will begin its move April 1, according to local reports.
Property owner Huber Management Corp. recently began renovating the space in the development.
“The new space is larger than what we’ve got, but a big part is that it’s going to have a very comfortable feel to it,” owner Bernard Dalichau tells the Dayton Business Journal. “It’ll have a nice water element outside and the interior will feel more spacious and have purple hues.”
With an annual revenue topping $1 million, Dalichau tells the Business Journal he needs more space for his seven full-time office staff, as well as a bigger classroom to train caregivers.
“Clients will be able to walk in and see the training themselves,” Dalichau tells the Business Journal.”This new space is going to be a place where we can grow over the next five to 10 years.”
The home health care company has been growing as it expanded into the Cincinnati market, and expects to hire additional workers.
$40 Million Credit Facility to Fund Univita Health’s Future Growth
Miramar, Florida-based Univita Health, a nationwide provider of post-acute and home health care services, has secured a credit facility of $40 million from San Francisco-based Genstar Capital and a private lender.
The credit facility will be used to fund Univita’s future growth supporting the expansion of the company’s health plan partners.
Univita manages care for more than 5 million health plan members and provided more than 3.2 million home health, durable medical equipment and infusion pharmacy visits in 2014.
“We are pleased to continue our longstanding relationship with Genstar Capital,” said Michael Muchnicki, president and CEO of Univita Health, in a statement. “Univita is the leader in home care innovation. We look forward to growing and expanding with proven solutions that are changing the way patients recover and heal in the comfort of their homes.”
Univita specializes in the management and utilization of complex home health services, DME and infusion pharmacy services, primarily in the government sector.
“Genstar is committed to advancing Univita’s mission of transforming the health care experience in the home with trusted and caring solutions,” said Robert J. Weltman, managing director of Genstar Capital, in a statement released Tuesday. “Today’s announcement reaffirms our commitment to Univita and paves the way for a successful continued partnership with the Univita team.”
Written by Emily Study