One of the largest home care organizations in the country has been acquired by one of the nation’s biggest health systems.
Advocate Aurora Enterprises — the recently established subsidiary of Midwest-based Advocate Aurora Health, one of the 12 largest not-for-profit, integrated health systems in the U.S. — announced Thursday it has acquired Senior Helpers. Maryland-based Senior Helpers has more than 320 franchised and corporate-owned locations in 44 states, in addition to Canada and Australia.
Among its offerings, the home care franchise company provides meal planning, transportation and companionship services, plus assistance with personal hygiene and more. Helmed by co-founder and CEO Peter Ross, Senior Helpers has also spent years developing specialty programs for chronic neurological disease, particularly Alzheimer’s and Parkinson’s diseases.
“This opens a lot of opportunities for us, thinking about what we can be in the broader health care continuum,” Ross told Home Health Care News. “How do you control the overall continuum? How do you own it? It’s very hard for one person, one company or one organization to have all of the parts. Well, I think we’re the first organization in the country that now can say we own the full health care continuum.”
Financial terms of the transaction were not disclosed.
With dual headquarters in Milwaukee, Wisconsin, and Downers Grove, Illinois, Advocate Aurora Health oversees has 26 hospitals and more than 500 outpatient sites of care. Its workforce is made up of 75,000 overall team members, including more than 10,000 doctors and over 22,000 nurses.
Advocate Aurora Enterprises launched earlier in March with a three-pronged focus on aging, parenthood and well-being. The Senior Helpers acquisition marks its second major move, with its first moving being the lead investment on Foodsmart’s $25 million Series C round.
“Senior Helpers furthers our transformation into a destination health company that goes beyond sick care to provide wellness offerings,” Advocate Aurora Health President and CEO Jim Skogsbergh said in a statement. “The ultimate goal here is to give people more healthy days within the comfort of their homes doing the activities they enjoy. This aligns with our purpose of helping people live well.”
Senior Helpers was previously owned by New York-based private equity firm Altaris Capital, which acquired the home care giant in 2016 for a reported $125 million.
This is a developing story. Please check back later for additional information.