The home-based care provider PurposeCare is expanding again. This time, it’s doing so through the acquisitions of three Midwestern home-based care agencies. Specifically, the Chicago-based PurposeCare is acquiring Scott’s Home Healthcare and Attentive Personal Care, both of which are located in Indiana. The company is additionally acquiring the Ohio-based Choice Nursing Care & Home Health. PurposeCare has set up branches across the Midwest, enabling these new acquisitions to more seamlessly integrate into the brand.
“Indiana and Ohio are key markets for PurposeCare,” PurposeCare CEO Rich Keller told Home Health Care News in an email. “We started in Indiana with our first two acquisitions – Purpose Home Health and Alliance Home Health Services. Our strategy is to build depth in our existing markets through both organic growth and acquisitions.” Backed by Lorient Capital, PurposeCare provides home-based care services to more than 3,000 clients per month. It primarily serves patients that are dually eligible for Medicare and Medicaid services, enabling it to deliver multiple service types to patients in the home. The new acquisitions fit into the company’s existing portfolio – in terms of service offerings, geography and payer mix.
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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