Arosa+LivHome announced Monday it has acquired Forever Young Home Care, a move that expands its North Carolina footprint and adds further scale to the up-and-coming in-home care provider’s operations. Financial terms of the deal were not disclosed.
Backed by Bain Capital Double Impact, Arosa+LiveHome was formed in October 2018 after the combination of two regional health care companies: Arosa and LiveHome.
The provider is led by CEO Ari Medoff, who told Home Health Care News that its deal with Forever Young Home Care was long in the making and made possible by the organization’s largely aligned missions.
“We worked a little with Forever Young Home Care over the years,” Medoff said. “When the time was right for our business and for Jennifer’s to join forces, I felt confident that the combination of the two would bring strength to our brand and presence in Greensboro, North Carolina.”
Arosa+LivHome currently operates in 16 markets across California, North Carolina, Illinois and Texas.
Its acquisition of Forever Young Home Care is the PE-backed in-home care company’s second overall. Arosa+LivHome previously acquired Grayslake, Illinois-based Partners in Senior Care in January.
Founded in 2010, Forever Young Home Care is a Greensboro-based provider of personalized in-home care services for residents of Guilford, Forsyth, Alamance, Rockingham and Davidson counties. Forever Young Home Care has roughly 75 caregivers on staff, according to Medoff.
“Critical mass in any given market is becoming increasingly important with the tight job market,” Medoff said.
Broadly, the newly announced acquisition falls in line with Arosa+LivHome’s efforts to scale the business into a national home care player. Forever Young Home Care was additionally a good fit because Greensboro is one of Arosa+LiveHome’s core markets, according to Medoff, who also has family ties to the area.
Arosa+LivHome’s local presence, Nurse Care of North Carolina, entered the Greensboro market in 2015, providing private in-home nursing and non-medical care.
For Forever Young Home Care, its deal with Arosa+LiveHome offers a partner in its efforts to attract and retain caregivers, which home care leaders widely cite as the No. 1 industry challenge. The deal also allows Forever Young Home Care to widen the scope of services the company provides.
“Without our ability to attract the most amazing and competent caregivers, our businesses don’t do very well,” Forever Young Home Care CEO and founder Jennifer Parker told HHCN. “This is the biggest aspect of our business right now.”
Recruiting and retaining staff through innovative operating models is one of the key focuses for Arosa+LivHome, Medoff previously told HHCN.
Arosa+LivHome will continue to look for growth opportunities in months to come, according to Medoff.
“The home care industry is so fragmented that there is plenty of room for us to continue growing in all 16 of our markets,” Medoff said. “This is our second home care acquisition. We have several other opportunities that we are pursuing, and [we] continue to grow both organically and through acquisition in both home care and care management.”