DURHAM, NC/LOS ANGELES/BOSTON, October 9, 2018 – 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.”
The combined company is actively seeking high performing additional sales talent to join its team as well as add-on acquisitions of high-quality care management companies. For more information, please contact business development at [email protected].
About LivHOME Inc.
LivHOME delivers a personalized package of care management led in-home care services for older adults and their families. Founded in 1999, the company is dedicated to finding solutions that enable older adults to remain in their own homes as long as possible. Based in Los Angeles, LivHOME delivers the highest quality in-home care in California, Illinois, and Texas. For information, contact LivHOME, Inc., 5670 Wilshire Blvd., Suite 500, Los Angeles, California 90036, 1-800-660-CARE, or visit www.livhome.com.
About Arosa LLC
Founded in 2012, Arosa strives to create value by taking an operational approach to investing in the healthcare services industry. Through its affiliates, Nurse Care of North Carolina and Developmental Therapy Associates, it provides non-medical in-home care, skilled in-home care, pediatric therapy, and facility staffing throughout Central and Eastern North Carolina. For information, contact Arosa LLC, 3200 Croasdaile Dr. Suite 701, Durham, North Carolina 27705, 844-968-7730, or visit www.arosallc.com.
About Bain Capital Double Impact
Bain Capital Double Impact (www.baincapitaldoubleimpact.com) is the impact investing strategy of Bain Capital, a leading global private investment firm. Bain Capital Double Impact utilizes Bain Capital’s proven, deep diligence, value-added approach to build great companies that deliver both competitive financial returns and meaningful, measurable social and environmental good. Bain Capital Double Impact focuses on health & wellness, sustainability, and community building to create long-term value and meaningful impact at scale. Its goal is to enable the next phase of financial and impact growth for our partner companies, which are solving critical social problems, and doing so profitably. We believe that our value-added approach, experienced team, and broad platform expertise will help our partner companies to thrive.