Private equity firm Waud Capital Partners has acquired MedTec Healthcare, a provider of in-home care and adult day services.

The deal, announced Monday, is part of Waud Capital’s strategy to build a home-based services platform through a newly announced holding company, Altocare. MedTec will continue to operate under its existing brand and leadership.

“Our prior owners were great partners for us and helped enable MedTec to grow significantly over the past five years,” Shihwan Chung, CEO of MedTec Healthcare, told Home Health Care News in an email. “However, the company had grown to a size where it made sense for new ownership to come in and help MedTec achieve its full potential by bringing more resources and expertise to bear.”

Park Ridge, Illinois-based MedTec offers in-home care, including companionship and personal care services, as well as adult day programming. MedTec serves clients in six counties in Illinois and operates five adult day centers. 

Chicago-based Waud Capital is a middle-market private equity firm with a focus on health care and technology. Its portfolio includes other post-acute care companies, including Concierge Home Care, CarePoint Partners and PromptCare. The firm acquired the home care franchise Senior Helpers in 2024, which will also operate under its brand within the Altocare umbrella.

Steve Jakubcanin, an executive partner at Waud Capital, will serve as Altocare’s executive chairman.

“This acquisition represents a significant step in our vision to create a leading home care platform that delivers best-in-class care,” Jakubcanin said in a statement. “MedTec Healthcare’s dedication to quality and its strong market presence align perfectly with our mission. We look forward to working together to enhance home care services and improve outcomes for the clients and families we serve.”

The MedTec acquisition follows several other notable home-based care deals that closed thus far in 2025.

Earlier this month, Aveanna Healthcare Holdings (NASDAQ: AVAH) announced plans to acquire Thrive Skilled Pediatric Care. In March, an affiliate of Peak Rock Capital acquired BrightStar Care, a provider of home care, senior living, and supplemental staffing services.

In January, Levine Leichtman Capital Partners (LLCP) acquired Synergy HomeCare, a non-medical in-home service provider. The same month, Choice Health At Home acquired Family Tree Private Care, which offers caregiving, private nursing and care management services.

This acquisition activity comes amid broader concerns in the home-based care sector, though MedTec’s CEO reported continued investor interest.

“I suspect there is some uncertainty in the market, especially for a primarily Medicaid-focused company like ours,” Chung said. “However, we found that interest in MedTec was still very strong, though I can only speak about our experience going through the sales process vs. the broader M&A market.”