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Executive Care finds new backer
Home care provider Executive Care recently received an investment from global investment firm The Riverside Company. The financial terms were not disclosed.
Hackensack, New Jersey-based Executive Care is a private-pay personal care company that operates a network of 13 franchise locations and offers a plethora of services, including companionship, homemaking, personal care and live-in care.
“Executive Care has a long track record of success in providing high-quality, non-medical home care support through its network of franchise partners,” Joe Lee, senior partner at Riverside, said in a press release. “We look forward to working closely with the Executive Care team to build additional value in the business through organic and acquisitive growth.”
Riverside’s investment in Executive Care isn’t the company’s first foray into the franchise world. In fact, a focus on franchise companies has become somewhat of a calling card for Riverside.
“As part of its franchise specialization, Riverside seeks to source and integrate add-on opportunities, drive growth and capture potential,” the company stated in the press release.
Riverside’s portfolio also includes Best Life Brands, a holding company for home-based care franchise companies ComForCare and Boost Home Healthcare.
Charter acquires Silver Linings Hospice Care
Charter Healthcare Group recently purchased New Mexico-based Silver Linings Hospice Care for an undisclosed amount.
Charter is the post-acute care provider platform of Dallas-based private equity firm Pharos Capital Group LLC. With headquarters in both Dallas and Nashville, Tennessee, Pharos is a health care-focused investment firm. Pharos has invested in 55 companies since launching and has more than $1.3 billion of private equity assets under management.
Meanwhile, Cucamonga, California-based Charter offers hospice, home health, complex care management and palliative care services. The company delivers care to over 5,000 patients across seven states.
Silver Linings delivers hospice care throughout New Mexico. The company employs a full interdisciplinary team that includes registered nurses, health aides, social workers, chaplains and volunteers.
This deal marks Charter’s entrance into the New Mexico market and expands its footprint to eight states.
“Through Silver Linings, Charter will now be able to provide services in Santa Fe, East Mountains and the greater Albuquerque area of New Mexico,” Bob Crants, founding partner and chief investment officer of Pharos, said in a statement. “We are proud to support Charter’s tradition of providing compassionate, comprehensive care solutions at lower costs for patients and families navigating the last years of life.”
Interim acquires its Treasure Coast franchise
Interim HealthCare recently acquired one of its franchise locations. The company purchased Interim of the Treasure Coast following the retirement of its owners.
Interim is a Sunrise, Florida-based in-home care franchise with more than 530 locations across the U.S. Interim of the Treasure Coast serves the communities of West Palm Beach and Port St. Lucie, Florida.
In recent years, a number of home care franchise companies have made moves to establish corporate or company-owned locations. Similar to Interim, some home care companies have accomplished this by acquiring within their own franchise network.
At the beginning of the year, Interim also acquired Interim of San Diego.
Interim has no plans to change its current business model, but the company is open to new opportunities, according to Jennifer Sheets, its president and CEO.
“We believe the most successful organizations are those that are willing to push beyond traditional boundaries,” she said in a statement. “When opportunities surface that allows us to expand our client base and strengthen our business, we will pursue them.”
Caregiver Inc. purchases four companies
Caregiver Inc. recently announced that it has acquired four companies.
Caregiver completed the acquisitions of Heartland Residential in Indiana; Opportunities To Succeed in Ohio; Concepts in Community Living in Ohio; and Hope Homes of Richland County in Ohio.
As a company, Fort Worth-based Caregiver focuses on delivering long-term care services to individuals with developmental disabilities.
“Caregiver is a different long-term services and supports provider — we are bringing LTSS services for people with disabilities into the [21st Century] by investing in our employees and investing in forward-thinking technology,” Mark Lashley, CEO of Caregiver, said in a statement. “Our investments are designed to greatly improve the quality of care to our vulnerable individuals.”
Integracare Inc. buys Eldercare Home Health Inc.
Canada-based home care provider Integracare Inc. has acquired Eldercare Home Health Inc.
Toronto, Ontario-based lntegracare offers home-based private nursing care and personal support services.
Founded in 1995, Eldercare Home Health provides registered nurse supervised and case managed home health care services in Toronto.
“Eldercare has an amazing reputation as an expert in providing the highest quality home healthcare for seniors,” Lee Grunberg, CEO of Integracare, said in a statement. “Their laser focus on serving seniors in our community is what attracted us to Eldercare. Additionally, their focus on caregiver retention, recognition and appreciation will make for a perfect culture fit with Integracare. This focus aligns perfectly with our mission to attract, educate, retain, and reward the best caregivers in the industry.”
Companies featured in this article:
Caregiver Inc., Charter Health Care Group, Executive Care, Integracare Inc., Interim Healthcare, The Riverside Company