Advocate Aurora Enterprises on Thursday announced its acquisition of Senior Helpers, a national leader in home care and wellness offerings for seniors.
The investment is the second for Advocate Aurora Enterprises, recently established by Midwest-based Advocate Aurora Health to invest in businesses that enable people to improve their health and well-being beyond traditional clinical care settings. It is focusing its investments in three key categories: aging independently, parenthood and personal performance.
The Maryland-based Senior Helpers has more than 320 franchised and corporate-owned locations in 44 states, Canada and Australia that provide home care services and wellness services for seniors, including meal planning, grocery shopping, medication reminders, transportation, companionship, assistance with personal hygiene and more. They also offer special programs for chronic neurological disease, particularly Alzheimer's and Parkinson's diseases. Their industry-leading services enhance seniors' ability to remain in their homes and avoid or delay the need for nursing homes.
"Senior Helpers furthers our transformation into a destination health company that goes beyond sick care to provide wellness offerings," said Advocate Aurora Health President and CEO Jim Skogsbergh. "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."
"We deeply respect the company and its franchisees' proven commitment to delivering compassionate care. One of our top priorities is to invest in companies that help people age well, and Senior Helpers fits that strategy perfectly," said Advocate Aurora Enterprises President Scott Powder. "This deal capitalizes on our organizations' shared commitment to helping seniors thrive independently, comfortably and affordably in their homes and our shared vision of the home as the care delivery venue of the future."
The Senior Helpers leadership team will continue in their current roles.
By 2030, one out of every five U.S. citizens will be of retirement age, according to the U.S. Census Bureau.
"The need for high-quality, in-home senior care has never been greater. We see all sorts of opportunities to enhance our suite of senior services as part of Advocate Aurora Enterprises' portfolio, because we share many of the same core values," Senior Helpers CEO Peter Ross said. "Given Advocate Aurora's scale and their experience as a premier health care provider, which aligns with the work our franchisees are already doing, we'll be better positioned to expand best-in-class care and wellness services for seniors."
Livingstone acted as the exclusive financial advisor to Advocate Aurora Enterprises in the acquisition. Cain Brothers, a division of KeyBanc Capital Markets, acted as a 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 it led a series C funding round of more than $25 million in Foodsmart, a telenutrition platform combining the largest national network of registered dietitians, personalized meal planning and the broadest food marketplace to make eating well simple and affordable.
About Advocate Aurora Enterprises
Advocate Aurora Enterprises is a subsidiary of Advocate Aurora Health, one of the 12 largest not-for-profit, integrated health systems in the nation. It is responsible for advancing the system's purpose of helping people live well through a commitment to Whole Person Health. Its three focus areas include: Aging Independently, enabling aging seniors to thrive safely and comfortably in their homes; Parenthood, supporting parents in raising healthy and happy kids with less stress and greater confidence; and Personal Performance, helping people to achieve their mind, body and nutrition goals.
About Senior Helpers®?
Senior Helpers® is the nation's premier provider of in-home senior services ranging from specialized care for those with diseases, such as dementia, Alzheimer's and Parkinson's, to personal and companion care to help individuals looking for a little assistance with daily activities. Founded in 2002 with a vision to help seniors age with dignity despite age-related illnesses and mobility challenges, Senior Helpers® has hundreds of franchised and owned businesses that have cared for tens of thousands of seniors.