Renovus Capital Partners has formed a strategic partnership with Aspire Home Health Care, a provider of orthopedic and traditional home health services serving patients across the Chicagoland area and Wisconsin.
Founded in 2013 and based in Morton Grove, Illinois, Aspire provides skilled nursing and therapy services to patients recovering at home from orthopedic procedures, surgeries, and complex medical conditions.
The company has served more than 80,000 patients across 23 counties in Illinois and Wisconsin and is led by Co-Chief Executive Officers Michael Simms and Richard Si.
Renovus plans to support Aspire’s continued expansion across the Midwest while investing in technology and operating infrastructure designed to help the company scale its clinical services.
The partnership comes as demand for home-based post-acute care continues to increase. Aspire and Renovus cited demographic trends including the aging U.S. population and efforts by payors to shift more post-acute care from institutional settings into patients’ homes.
Renovus also highlighted healthcare workforce constraints as an important factor shaping the market. PHI’s 2025 Key Facts report projects that direct care workers, including home health aides, will add more new jobs than any other U.S. occupation between 2024 and 2034, with an estimated 9.7 million total job openings when workforce turnover is included.
Separately, HRSA workforce projections indicate continued shortages of registered nurses and licensed practical nurses over the coming decade, increasing the importance of recruiting and retaining clinical talent.
Renovus said Aspire represents its sixth healthcare talent platform. The investment firm plans to apply lessons from its other healthcare businesses to help Aspire expand its clinician base and improve operational efficiency.
The partnership will also include investments in technology and AI-enabled tools, including revenue cycle management systems intended to reduce administrative workloads, improve billing and collections, and allow clinicians to spend more time with patients.
Aspire is accredited by The Joint Commission and holds a 4-star CMS quality rating and a 5-star CMS patient survey rating.
Brentwood Capital Advisors served as exclusive financial advisor to Aspire, while BakerHostetler served as legal counsel. Greenberg Traurig served as legal counsel to Renovus.
KEY QUOTES:
“We are excited to partner with the seasoned and accomplished team at Renovus as we build on the reputation Aspire has earned with surgeons, health systems and the patients we serve.”
Michael Simms, Co-CEO Of Aspire Home Health Care
“Renovus’ experience in home health will help us provide care to more patients and families across the region.”
Richard Si, Co-CEO Of Aspire Home Health Care
“Michael, Rich, and their team have established a strong leadership position in Chicagoland home health through a clinical and talent-first culture and deep relationships with the region’s leading referring surgeons and health systems. We are proud to support a dedicated team as we seek to advance the high-quality care Aspire delivers to patients recovering in the comfort of their homes, while also growing to reach new communities across the Midwest. As our sixth healthcare talent platform, Aspire builds on what we have learned about attracting and retaining clinical talent. Similar to our other platforms, we plan to invest in technology and AI-enabled tools, including revenue cycle management, to cut administrative burden, speed up billing and collections, and let clinicians spend more time with patients.”
Pat Heath, Principal At Renovus Capital Partners
