Waud Capital Partners (a growth-oriented middle-market private equity firm) announced the acquisition of Maryland-based Senior Helpers, one of the national leaders in home care and wellness offerings for seniors. Waud Capital is buying Senior Helpers from Advocate Health.
Senior Helpers operates through over 380 franchised and corporate-owned locations in 44 states, Canada, and Australia. These locations offer seniors home care and wellness services, including meal planning, grocery shopping, medication reminders, transportation, companionship, and assistance with personal hygiene. And they also offer special programs for chronic neurological diseases, especially Alzheimer’s and Parkinson’s diseases. The company’s services enhance seniors’ ability to remain in their homes and avoid or delay the need for care in inpatient facilities.
Steve Jakubcanin, an Executive Partner at Waud Capital with over 20 years of healthcare operating experience in home care and other post-acute sectors, will serve as Senior Helpers’ Executive Chairman of the Board of Directors. A former clinician and experienced executive, Jakubcanin brings a deep understanding of multi-site operations and patient care and has successfully scaled organizations through organic and inorganic strategies.
Jakubcanin most recently served as CEO of Cornerstone Healthcare Group and previously held senior leadership roles at AccentCare and Kindred Healthcare, two nationally recognized home care providers and post-acute services.
This platform marks Waud Capital’s seventh investment in the home care and post-acute space, along with current investments in Concierge Home Care (skilled home health and primary care), PromptCare (home infusion and complex respiratory services), and Ivy Rehab (physical therapy), and prior investments in CarePoint Partners (home infusion), Regency Hospital Company (long-term acute care hospitals), and DS Medical (home medical supplies).
Cain Brothers (a division of KeyBanc Capital Markets), served as financial advisor to Waud Capital. And Livingstone acted as financial advisor to Advocate Health and Senior Helpers. The terms of the transaction were not disclosed.
KEY QUOTES:
“We are very excited for our franchisee partners, teammates, caregivers, and clients. The need for high-quality, in-home senior care has never been greater. We see opportunities to enhance our suite of senior services as part of the next phase of the company’s growth. Waud Capital brings deep expertise in supporting and successfully growing healthcare companies, a set of similar core values, and a shared vision for the future. We look forward to partnering together to better position the company to expand its best-in-class care and wellness services for seniors.”
– Senior Helpers CEO and Co-Founder Peter Ross
“Senior Helpers is one of the most respected and reputable brands in the home care industry, and I share the company’s commitment to providing high-quality, compassionate care. It is a privilege to work with Peter and the Senior Helpers management team. We plan to continue building on the company’s success and further enhance the services offered to our franchisee partners and client families.”
– Steve Jakubcanin
“We strongly believe in the value of services that enable seniors to thrive independently and affordably in the comfort of their own homes. We are excited to partner with Steve, Peter, and the Senior Helpers team to continue providing best-in-class client care and exceptional support to our franchisee partners while also capitalizing on significant opportunities to expand the company’s footprint and services.”
– Kyle Lattner, Principal at Waud Capital
“Our partnership with Senior Helpers is another key example of the Waud Capital strategy of matching experienced executive talent with industry-leading companies in sectors where we have deep conviction. We look forward to supporting the company in its next phase of growth.”
– Chris Graber, a Partner at Waud Capital who leads the firm’s healthcare investment team
“Advocate Health remains committed to collaborating with innovative companies like Senior Helpers to advance health care transformation and enhance outcomes among our patients aging in place.”
– Rasu Shrestha, Advocate Health’s chief innovation and commercialization officer
