Massachusetts home care company enters Philadelphia market
Private-pay in-home care company HouseWorks LLC has acquired Caring Friends Home Care. The acquisition propels the Massachusetts-based HouseWorks into the Philadelphia market, while positioning the company for future growth throughout Pennsylvania.
Financial terms of the acquisition were not disclosed.
HouseWorks, which is backed by health care investor RAB Ventures LLC, has delivered personalized care for older adults living in the Boston area for the past 20 years. It acquired Caring Friends Home Care from Friends Life Care Partners.
Caring Friends Home Care has been in operation for more than 25 years in the Philadelphia market. The provider is licensed by the Pennsylvania Department of Health.
“We are a mission-driven, entrepreneurial company that works creatively with seniors and their families to figure out the best solution,” HouseWorks’ CEO Andrea Cohen said in a statement. “We will work with the Caring Friends team to expand in the Philadelphia area by continuing to offer the highest possible quality of care to seniors who want to age at home.”
Slightly more than 13% of Philadelphia County’s population is made up of individuals 65 years old and over. Nationally, the individuals 65 and older make up more than 15% of the overall U.S. population, according to the Census Bureau.
HouseWorks’ acquisition of Caring Friends Home Care continues the 2018 trend of private equity interest in the home care space. RAB Ventures acquired a majority stake in HouseWorks LLC in February 2018, committing additional capital to accelerate growth.
LifeCare Health Partners rebranding Texas-based home care providers
National health care services provider LifeCare Health Partners is rebranding several of its home care offices. Under the rebranding, 10 of its Texas-based home care providers will come together under a new name: LifeCare Home Care.
The rebranding is effective immediately.
Headquartered in Plano, Texas, LifeCare Health Partners encompasses the LifeCare Family of Hospitals, as well as a variety of post-acute services, including transitional care, in-patient and out-patient behavioral health treatment and home-based care.
LifeCare Home Care has facilities in Abilene, Aledo, Dallas, Ennis, Fort Worth, Garland, Graham, Plano and Wichita Falls.
“To better serve our communities and establish our brand as a well-respected home care provider, BeyondFaith and Haven Home Health will now be known as LifeCare Home Care,” Kristie Geist, president of the home health division at LifeCare Health Partners, said in a statement. “We are proud to continue their strong presence in the home health industry.
LifeCare Health Partners also has a home care agency in Florida, Complete Home Care, which has two locations in Boca Raton and Broward County. In 2018, the company acquired two Nevada-based home health agencies, EverCare and Care First.
Geist previously outlined her organization’s growth strategy to Home Health Care News in June.
Companies featured in this article:
Caring Friends Home Care, HouseWorks, LifeCare Health Partners, RAB Ventures
