DURHAM, N.C., LOS ANGELES, and BOSTON, Oct. 9, 2018 /PRNewswire/ — Bain Capital Double Impact, the impact investing business of Bain Capital, today announced that it has acquired and will combine two regional healthcare companies to create a premier national in-home care provider for older adult Americans and their families. Arosa+LivHOME will continue to create new standards of care in the fast-growing, in-home care industry, while maintaining a focus on professionalizing direct care jobs and celebrating the meaningful work of caregivers. Financial terms of the private transactions were not disclosed.
Established in 2012, Arosa has leveraged its strong operational infrastructure to grow and diversify its offerings through its Nurse Care of North Carolina and Developmental Therapy Associates operating affiliates. Today, Arosa companies provide non-medical in-home care, skilled in-home care, pediatric therapy, and facility staffing throughout Central and Eastern North Carolina. Founded in 1999, LivHOME offers a personalized suite of in-home care and care management solutions to residents of California, Illinois and Texas through a network of experienced senior care managers. The combined company will be led by Arosa owner and Chief Executive Officer Ari Medoff.
“The marriage of these two companies, combined with Bain Capital’s extensive experience supporting healthcare providers, presents a unique opportunity to transform the in-home care industry,” said Medoff. “This partnership allows us to provide higher quality personalized care to clients, as well as improve professional development opportunities for caregivers. We are thrilled to work together with the Bain Capital Double Impact team to raise the bar for the industry.”
“As Americans live longer, access to personalized in-home healthcare has become essential to ensuring well-being and peace of mind. Arosa+LivHOME’s experienced care managers, who are sensitive to the evolving needs of individuals and their families, help make this a reality,” said Deval Patrick, a Managing Director at Bain Capital Double Impact. “We see significant opportunities for the combined company to improve quality of life for older adults, their families, and dedicated caregivers.”
Bain Capital has deep investing experience in the healthcare services sector, adding value to companies such as, Aveanna, Beacon Health Options, EPOCH Holdings, HCA, Inc., Surgery Partners, and Waystar (formerly Navicure and ZirMed).
“We are excited to work with Ari and his management team to build the preeminent mission-oriented, in-home care provider in the US and to drive improvements to the employment model and enable new career paths for care givers,” added Warren Valdmanis, a Managing Director at Bain Capital Double Impact.
“By joining Arosa+LivHOME, we have the opportunity to create a national home care platform that is focused on delivering high quality service and differentiated care,” said Peter Spring, a Principal at Bain Capital Double Impact. “We want to integrate other care providers who share our mission and where we can drive social impact at scale.”
This article originally appeared in an article on PRNewswire.