Home Health & Hospice Week

State government flip-flops lead Addus to exit New York entirely.

The non-Medicare home care market is also keeping busy.

For example, private equity and credit investment firm Comvest Partners is the funding source for Chicago-based PE firm Waud Capital Partners’ acquisition of Towson, Md.-based Senior Helpers from Advocate Health for undisclosed terms, announced this past March.

The financing from the West Palm Beach, Fla.-based firm “was used to support the acquisition of Senior Helpers” and “also provides committed capital for Senior Helpers’ future growth initiatives,” Comvest says in a May 24 release.

Other market developments include:

In Connecticut: PE-backed personal care services platform HouseWorks Holdings has acquired the Connecticut Personal Care Division, with brands Companions and Homemakers, and Companions Forever, from AccordCare. With this acquisition, HouseWorks enters Connecticut, “significantly enhancing the company’s geographic footprint while offering compelling opportunities for future growth,” according to the release. Newton, Mass.-based Houseworks, which operates in five northeastern states and Tennessee, enters the Connecticut market with the purchase.

In New York: Addus HomeCare Corp. has agreed to sell all of its New York personal care operations, as well as its fiscal intermediary services under the NY Consumer Directed Personal Assistance Program, to HCS-Girling for “up to $23 million, depending, in part, on future operating requirements for HCS-Girling in New York,” Frisco, Texas-based Addus says in a release. “We are pleased to reach this agreement with [Brooklyn-based] HCS-Girling to divest our New York personal care operations and exit the state,” says Addus CEO Dirk Allison in a release. “This has been a challenging market for Addus and no longer fits our growth strategy. We do not have the opportunity to offer all three levels of home care services there, and the well documented program challenges and start-and-stop changes in the state’s approach have consumed a disproportionate amount of management resources for limited financial contribution,” Allison explains.

In Tennessee: Local home care companies are joining forces to create a larger organization in Nashville-based Avenues Home Care. “The core group of local agencies includes AA Care Services serving San Antonio and New Braunfels, [Texas], Sentinel Homecare … in Johnson City and Morristown, Tenn., SunLife in Dallas, and Comprehensive Care in Nashville, Dalton, and Chattanooga,” Avenues says in a release announcing its launch. The company will provide home care services across more than 100 communities in Texas, Tennessee, and Northwest Georgia, “with ongoing expansion plans,” it says.

In Washington state: Liberty Lake-based Family Resource Home Care has acquired Moses Lake-based Specialty Service Solutions, Family Resource says in a release. Family Resource is “the Pacific Northwest’s largest home care provider,” it says. “The purchase adds further density to Family Resource’s Washington state presence” and “brings the company’s total locations to 35 across Idaho, Oregon, and Washington,” the provider notes. Great Point Partners, a healthcare-focused private equity group based in Greenwich, Conn., backs Family Resource.

In Virginia: Genuine Care Home Care has opened in Leesburg, it says in a release. Owner Noelia Navarro is a 10-year industry veteran and Certified Dementia Practitioner, Genuine says on its website.