Advocate Aurora Enterprises acquires the national leader in home care and wellness offerings for senior carers
DOWNERS GROVE, Ill. and TOWSON, Md., April 1, 2021 / PRNewswire / – Advocate Aurora Enterprises announced Thursday that it has acquired Senior Helpers, a national leader in home care and wellness for seniors.
The investment is the second for Advocate Aurora Enterprises, recently founded by Midwestern Advocate Aurora Health to invest in companies that enable people to improve their health and wellbeing beyond traditional clinical care environments. It focuses its investments on three key categories: Independent Aging, Parenthood, and Personal Achievement.
The MarylandUK-based Senior Helpers has more than 320 franchise and corporate locations in 44 states. Canada and Australia providing home care and wellness services to the elderly, including meal planning, grocery shopping, medication reminders, transportation, companionship, personal hygiene assistance, and more. They also offer special programs for chronic neurological diseases, especially Alzheimer’s and Parkinson’s. Their industry leading services enhance seniors’ ability to stay in their homes and avoid or delay the need for nursing homes.
“Senior Helpers are driving our transformation into a target health company that goes beyond health care and offers wellness offerings,” said Advocate Aurora Health, President and CEO Jim Skogsbergh. “The ultimate goal here is to enable people to have more healthy days in the comfort of their homes, doing the activities they enjoy. This is in line with our goal of helping people live well.”
“We deeply respect the proven commitment of the company and its franchisees to compassionate care. One of our top priorities is investing in companies that help people age well, and senior helpers are a perfect fit for that strategy,” said Advocate Aurora Enterprises President Scott Powder. “This deal builds on our organizations’ shared commitment to helping seniors thrive in their homes independently, comfortably, and cheaply, and on our shared vision of the home as the care home of the future.”
The Senior Helpers leadership team will retain their current roles.
According to the US Census Bureau, one in five US citizens will be of retirement age by 2030.
“The need for quality senior care at home has never been greater. We see all possible opportunities to enhance our senior service offering as part of the Advocate Aurora Enterprises portfolio as we share many of the same core values.” Senior Helpers CEO Peter Ross said. “Given the size of Advocate Aurora and their experience as a premier healthcare provider that aligns with the work of our franchisees, we are better positioned to grow their world-class care and wellness services for seniors.”
Livingstone acted as exclusive financial advisor to Advocate Aurora Enterprises on the acquisition. Cain brothers, a division of KeyBanc Capital Markets, acted as lead financial advisor to Senior Helpers. Senior Helpers was last acquired in 2016 by funds affiliated with Altaris Capital Partners, LLC.
Last week, Advocate Aurora Enterprises announced that they had a Series C funding round of more than $ 25 million in Foodsmart, a telenutrition platform that combines the largest national network of registered nutritionists, personalized meal planning and the broadest grocery market to make eating easy and affordable.
About Advocate Aurora Enterprises
Advocate Aurora Enterprises is a subsidiary of Advocate Aurora Health, one of the 12 largest nonprofit integrated health systems in the country. It is responsible for advancing the system’s purpose of helping people live good lives through a commitment to the health of whole people. The three priorities include: Aging independently so that aging seniors can safely and comfortably thrive in their homes; Parenthood, helping parents raise healthy and happy children with less stress and greater self-confidence; and personal achievement that helps people achieve their body, mind, and nutrition goals.
About Senior Helpers®
Senior Helpers® is the nation’s leading provider of in-home senior services, ranging from specialized care for people with diseases such as dementia, Alzheimer’s, and Parkinson’s to personal and escort care to help people with a little daily activities Seek support. Senior Helpers® was founded in 2002 with the vision to help seniors age gracefully despite age-related illnesses and mobility problems. The company has hundreds of franchise and proprietary businesses that have served tens of thousands of seniors.
SOURCE Advocate Aurora Enterprises and Senior Helpers