NuevaCare Leads Industry Among Fastest-Growing Agencies
In-home care providers continue to see tremendous growth year after year, with more than a few being listed among the “fastest-growing,” according the 2017 Inc. 5000 ranking of the nation’s fastest-growing private companies.
The 2017 roundup featured a total of 22 in-home care providers, up from 13 last year. This stronger presence should come as no surprise, as M&A activity for the industry remains strong, and as agencies continue to explore the opportunities that come with franchising.
In its 36th year, the Inc. 5000 list is ranked according to a company’s percentage revenue growth between 2013 to 2016. The fastest-growing private companies come from 25 different industries, ranging from construction to education, to travel and health.
The following in-home care providers were included in the 2017 list:
#206 — NuevaCare
#404 — Blossom Ridge Home Health & Hospice
#439 — Virginia Home Care Services
#642 — Genova Health
#672 — Best Home Healthcare Network
#1226 — Innovative Homecare Solutions
#1283 — Northwest Healthcare
#1387 — Great Lakes Caring
#1556 — Capitol Home Health
#1844 — Home Care Assistance
#1925 — Sunny Days In-Home Care
#2143 — FirstLight Home Care Franchising
#2480 — Total Care Connections
#2546 — Compassus
#2773 — Assisting Hands Home Care
#2938 — Beech Medical Group
#3125 — 24Hr HomeCare
#3396 — Senior1Care
#3931 — People’s Care
#4123 — Lifesprk
#4167 — SYNERGY Home Care
#4182 — Lifematters
Clinching the top spot for the industry is San Mateo, California-based NuevaCare, at #206. The company posted a revenue of $2.2 million in 2016, experiencing a three-year growth of 2,103%, according to Inc.
CEO Kamran Nasser calls the distinction a “monumental achievement” for the company.
“I contribute this success to our innovative programs and dedicated staff and caregivers who work tirelessly every day to care for the elderly and those dealing with the challenges of diseases like Alzheimer’s and different types of dementia,” Nasser said in a press release.
Rounding out the top three of the fastest-growing agencies are Sacramento, California-based Blossom Ridge Home Health & Hospice, at #404, which posted a three-year growth of 1,083%; and Vienna, Virginia-based Virginia Home Care Services, at #439, which experienced a three-year growth of 1,003%.
Jeff Bevis, CEO of FirstLight Home Care—which came in at #2143—attributes the company’s growth to the “booming senior care industry,” and its strategy. Since opening its first franchise location in 2010, the company has grown its footprint to more than 240 locations across 33 states.
“We know our franchisees’ commitment to providing dedicated service is integral to our continued growth as a company, and to being included on this prestigious list,” said Bevis in a press release.
Some agencies are no stranger to the list, as some have been listed in Inc.’s honor roll as being a “Five-Time Inc. 5000 Honoree.” These agencies include: Jackson, Michigan-based Great Lakes Caring; San Francisco-based Home Care Assistance; El Segundo, California-based 24HR HomeCare; Mishawaka, Indiana-based Senior1Care; Chino Hills, California-based People’s Care; and Silver Spring, Maryland-based Lifematters.
All honorees featured will be recognized at the annual Inc. 5000 event in October in Palm Desert, California.
Written by Carlo Calma