With Risk Capabilities And 'Full Continuum' In Mind, Care … – Home Health Care News

Care Advantage Inc. has acquired the Reston, Virginia-based Lighthouse Healthcare Inc., a private-pay personal care company.
Financial terms of the deal were not disclosed.
Care Advantage CEO Tim Hanold told Home Health Care News that Lighthouse “complements” what the company is already accomplishing in Northern Virginia.
“We’ve made a number of acquisitions over there in the last couple of years, both personal care and adult day care, and also our skilled acquisition called National Home Healthcare,” he said. “That’s also in the Reston, Virginia area, so we’re building out our density within Northern Virginia. It’s obviously a high-important, populated area of Virginia, and also Metro D.C. It really dovetails with our Capital City Nurses brand that is in Northern Virginia, D.C., Maryland and Delaware.”
Richmond, Virginia-based Care Advantage has 38 locations throughout Virginia, Maryland, Delaware, Washington, D.C. and North Carolina.
Lighthouse Healthcare was an attractive acquisition for Care Advantage due to how culturally aligned both organizations are, Hanold said.
“They believe in a high level of quality of care and accountability to referral sources, to the family, to the client and to the caregivers,” he said. “They really hone in on just the overall, quality service delivery. They are incredibly thoughtful in the way they go about their care.”
Similarly, Melissa Owens-Collins — co-founder of Lighthouse Healthcare — cited the organization’s shared mission as a driving force for the transaction.
“We knew after speaking with Tim Hanold and other members of the Care Advantage leadership that this was the right opportunity at the right time for us,” she said in a press statement. “Our shared passion to serve seniors, coupled with the support and resources they can provide, and their vision for Lighthouse made this decision a little easier for us.”
Overall, the Lighthouse Healthcare deals marks Care Advantage’s 18th acquisition since 2018. Those have been different types of deals, from adult day, to medical home health care, to private-pay personal home care.
Going forward, acquisitions will continue to be a big part of Care Advantage’s strategy.
“It’s a really important part of who we are, and we’ve got our eye both on organic and inorganic growth, as well as de novo,” Hanold said. “We’re looking at – and executing on – growth across all types of channels.”
In terms of the type of companies Care Advantage is looking to acquire, organizations that will allow the company to build on its care continuum are the most appealing.
“We believe it’s a sweet spot for us because it does a couple of different things,” Hanold said. “It’s important for the overall flow of the patient, and how we can take care of that patient across that continuum. It’s also important because we have a number of pay-for-performance agreements that are in flight, and some new ones that are coming on board.”
Ultimately, Hanold believes that it’s important to be able to control as much of the care in the home as possible.
“That means we can control the outcomes,” he said.
Care Advantage
Joyce Famakinwa is a Chicago area native who cut her teeth as a journalist and writer covering the worker’s compensation industry and creating branded content for tech companies and startups. When she isn’t reporting the latest in home health care news, you can find her indulging in her love of vintage clothing, books, film, live music, theatre and reality tv.

Key Insights
Key Insights
Exclusive Report
Key Insights
SPONSORED BY:

Seamlessly supplement your clinical assessments with CareScout’s nationwide network of 35,000+ registered nurses.
SPONSORED BY:

March 30, 2023 • Washington, D.C.
This event explores the strategies for deals, investments and transactions in the home health, home care, hospice and palliative care space.

Home Health Care News (HHCN) is the leading source for news and information covering the home health industry. HHCN is part of the Aging Media Network.
© Home Health Care News . All rights reserved.

source

Leave a Comment