InTandem Capital Partners, LLC (“InTandem Capital” or the “Firm”), a healthcare services focused private equity firm, announced that it has completed a strategic equity investment in HouseWorks (the “Company”), one of the nation’s largest independent home care companies. Financial terms of the transaction were not disclosed.
Founded in 1999 and based in Woburn, Massachusetts, HouseWorks is a home care company dedicated to helping seniors live independently. The Company’s proprietary BetterCare at Home® approach leverages personalized care services and innovative technology to guide the work of its caregivers as it helps seniors stay safe, comfortable, and engaged in their lives. The Company currently has eight locations throughout Massachusetts, the Southern New Hampshire and Maine regions and the Greater Philadelphia area.
“We are thrilled to be partnering with InTandem Capital and their experienced team,” said Mike Trigilio, Chief Executive Officer of HouseWorks. “We searched to find a partner who is aligned with our mission to deliver the highest quality of care and has a passion for achieving a meaningful impact in patients’ lives each and every day—and we found that in InTandem Capital. The Firm brings a wealth of industry expertise that will enable us to drive innovation and continue our growth strategy. Matched with our ambition and passion for home care, we believe InTandem Capital’s deep sector expertise, financial and operational resources, and track record in our sector will bring significant value to the HouseWorks platform and ultimately benefit our clients, caregivers, and team members.”
Prior to his leadership role at HouseWorks, Trigilio served as the Chief Executive Officer of Associated Home Care (“AHC”), a Massachusetts-based leader in home-based care. Trigilio presided over the sale of AHC to Amedisys, Inc. in 2016 and joined the Amedisys leadership team as the President of the Personal Care Division prior to his departure in March 2020.
“The demand for in-home personal care services continues to be strong amid a backdrop of labor shortages, demographic shifts and evolving patient needs and preferences,” said Brad Coppens, Senior Managing Director at InTandem Capital. “Our investment in HouseWorks is consistent with our strategy to partner with high-growth, disruptive healthcare companies with exceptional executive leadership. We are thrilled to partner with Mike and his capable team. We look forward to supporting HouseWorks’ mission not only to deliver great patient care and nurture its dedicated caregivers, but also to redefine the home care experience by integrating industry leading technology to improve patient experience, improve caregiver satisfaction, enable greater care consistency and deliver on the cost of care reductions that are among the promises of home-based care.”
HouseWork’s builds upon InTandem Capital’s exclusive focus on the healthcare services sector, and specifically the Firm’s existing portfolio of home care services companies.
About InTandem Capital Partners
InTandem Capital Partners is a private equity firm that invests in and helps accelerate the growth of select healthcare services companies. Its goal is to build excellent businesses of significant value working collaboratively with its management team partners. InTandem is comprised of former business executives and experienced investors, and is uniquely qualified to provide strategic, acquisition and operating expertise to help companies significantly increase their value over time. InTandem provides active support to the management of its portfolio companies directly and leverages its network of industry executives to augment its capabilities. For further information, please visit: www.intandemcapital.com.
About HouseWorks
For more than 20 years, HouseWorks has provided older adults and their families the highest standard of private, dependable in-home care. Our proprietary BetterCare at Home® approach leverages personalized care services and innovative technology to guide the work of our caregivers as we help seniors stay safe, comfortable, and engaged in their life – at home. HouseWorks is a national and local leader in home care serving Greater Boston and Philadelphia, New Hampshire, and Southern Maine.
In 2023, the M&A market for healthcare companies continues to build on STRATEGIC opportunities in the current market. The strategic corporate buyers and private equity investors remain committed to acquiring strong businesses that are well prepared for a transaction. Across the continuum of care, these buyers and investors are looking for well established, profitable businesses and offering prime valuations and options for management.
Do you know the current market value of your business? We do! We are here to help you plan, prepare, explore and succeed in executing your strategic options.
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