Purchase of senior care placement franchise launches new CEO's strategic growth plan
Detroit, MI /PRNewswire/ -- ComForCare Health Care Holdings LLC, the premier in-home care provider, and CarePatrol, the nation's largest senior placement franchise, have entered an agreement for ComForCare to acquire CarePatrol.
Recently backed by The Riverside Company, a private equity firm that handpicked new CEO Steve Greenbaum, ComForCare has more than 200 franchise locations in the U.S., Canada and the U.K. ComForCare's acquisition of CarePatrol is a first step in realizing the company's vision to rapidly expand its footprint in the older adult care space through strategic partnerships, organic growth and investments.
"In addition to expanding our service offering and portfolio, our acquisition of CarePatrol illustrates our objective of finding new avenues to carry out our mission to help people live their best life possible," said Greenbaum. "As the largest senior placement franchise in America, CarePatrol excels at its unprecedented and objective approach to helping families find the right care solutions for their loved ones."
CarePatrol has more than 150 offices in 40 states, with local senior care advisors who work with families free of charge to find quality, top-rated assisted living, independent living, memory care, nursing homes and in-home care. The senior advisors meet with families in person to assess a client's care level needs, financial needs and general preferred locations before recommending the best and safest care options.
"Our acquisition by ComForCare creates a partnership that is rooted in our shared mission to be a trusted resource for families and older adults as they age," said CarePatrol founder and CEO Chuck Bongiovanni. "Together, we will reach new heights in customer service and quality care."
"When we invested in ComForCare last year, we saw huge potential to become a disrupter in the home care space, especially given the accelerated growth of the industry with aging baby boomers," said Stephen Rice, a Riversideprincipal. "ComForCare has been strategic about its organic growth since its inception more than 20 years ago, and we look forward to amplifying this growth through investments in similar-minded companies like CarePatrol."
ComForCare is a premier provider of in-home care with nearly 200 independently owned and operated locations in the U.S., Canada and the U.K., helping older adults live independently in their own homes and continue to do all the things they love. The home care company is committed to helping people live their best life possible and offers special programs for people with Alzheimer's disease and other forms of dementia. ComForCare operates as At Your Side Home Care in Houston. www.comforcare.com.
CarePatrol's founders have been pioneers in the senior placement industry for the past 25 years. Franchising since 2009, CarePatrol has been a Franchise Satisfaction winner for eight consecutive years. With 150 franchise partners, CarePatrol is the largest senior placement organization in the country and has franchise territories available. www.CarePatrol.com
The Riverside Company is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 500 transactions. The firm's international portfolio includes more than 80 companies. www.riversidecompany.com.
SOURCE: ComForCareCopyright 2018 PR Newswire. All Rights Reserved