One of the home care industry’s top research and education firms is looking to take its game to the next level.
Private investment firm Cressey & Company announced Wednesday that it’s making “a significant investment” into the Rexburg, Idaho-based Home Care Pulse. Exact terms of the investment were not disclosed.
Founded in 2008, Home Care Pulse reports on workforce developments, marketing strategies and financial trends, with its core audience being the rapidly growing and increasingly important non-medical home care industry. Moving forward, the investment from Cressey & Company will help Home Care Pulse accelerate product-development initiatives, complete strategic acquisitions and amplify growth efforts, both in existing and new markets.
“We’re looking forward to working with Cressey,” Erik Madsen, the CEO of Home Care Pulse, told Home Health Care News. “They’ve got a tremendous track record of producing excellent results. We’re excited to be teaming up … in order to accelerate the great things that we’re doing as an organization.”
Cressey & Company is a PE firm focused on health care services and information-technology businesses. The company — dually based in Chicago and Nashville, Tennessee — has managed in excess of $2 billion of capital across its 40-year history.
“We are thrilled to partner with Home Care Pulse and its leadership team,” Dave Rogero, a partner at the firm, said in a statement. “They have built an exceptional business founded upon continuous innovation, fostering strong customer relationships and a commitment to excellence in customer service. We intend to leverage these core fundamentals as we accelerate the company’s growth and expansion.”
Current Cressey & Company portfolio companies include HHAeXchange, Lifeway Mobility and Concentra. Past ones with firm ties include Encompass Home Health Inc., Homecare Homebase and Compassus.
Madsen is particularly excited about soon leveraging Home Care Pulse’s expertise outside of its traditional arena, he told HHCN.
“With the addition of our online and blended-learning training products over the past 18 months, the doors have been opened for further expansion into all post-acute care markets,” he said. “Specifically, we are hearing from so many owners and executives in the home health and hospice verticals who are looking for similar solutions to what we offer home care providers today.”
Earlier this year, Home Care Pulse acquired Home Care Institute, a company that offers a comprehensive library of online training courses and resources for the home health and hospice industry. As part of the deal, the two companies merged platforms.
Before that, Home Care Pulse merged with In the Know, an online caregiver training platform, in February.
“Our real goal here is to make sure that the highest quality of care at home is available to every person,” Madsen said. “And that every home care provider is able to provide the highest quality of care.”
In terms of future M&A activity, Madsen pointed to those previous transactions as a good indicator of what’s to come from Home Care Pulse.
“I anticipate that future acquisitions will continue in that same area, as well as other entities that make sense to complement where we’re headed as an organization,” he said.
Madsen said that Home Care Pulse has known Cressey & Company for “quite some time” and that a deal between the two parties had “been in the works for a number of months.”
“They are currently involved with HHAeXchange,” he said. “They previously were involved with Homecare Homebase and SHP. They’ve got a long and very wonderful track record in the health care technology space, and we’d been on their radar for a long time as well.”
Ultimately, the investment enables Home Care Pulse to further lean into its overall purpose as a company at a time when senior care is in the national spotlight.
“I think the investment that we’re going to see over the next couple of years into the senior care market is absolutely huge,” Madsen said.
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