HCAP Partners Announces New Investment in Arosa+LivHOME
Firm invests in national provider of in-home care solutions to support growth as the company creates new standards of care and best-in-class service offerings.
San Diego, CA (October 16, 2018) – HCAP Partners, a California-based mezzanine debt and private equity firm, announced its investment in Arosa+LivHOME, a premier national in-home care provider for older adult Americans and their families. This is the first investment that HCAP Partners has made from its fourth fund, HCAP Partners IV, L.P. Terms of the transaction were not disclosed. Tim Bubnack, Managing Partner, and Hope Mago, Principal, led HCAP Partners’ investment in Arosa+LivHOME.
Arosa+LivHOME was recently formed after the acquisition of two regional healthcare companies by Bain Capital Double Impact, the impact investing business of Bain Capital. The company will continue to create new standards of care in the fast-growing, in-home care industry while maintaining a focus on professionalizing direct care jobs and celebrating the meaningful work of caregivers.
Established in 2012, Arosa has leveraged its strong operational infrastructure to grow and diversify its offerings through its Nurse Care of North Carolina and Developmental Therapy Associates operating affiliates. Today, Arosa companies provide non-medical in-home care, skilled in-home care, pediatric therapy, and facility staffing throughout Central and Eastern North Carolina. Founded in 1999, LivHOME offers a personalized suite of in-home care and care management solutions to residents of California, Illinois and Texas through a network of experienced senior care managers. The combined company will be led by Arosa owner and Chief Executive Officer Ari Medoff, and seeks to create one of the largest in-home care companies dedicated to providing quality care management services and differentiating itself as a best-in-class employer of caregivers and innovative service.
“We are excited to partner with Arosa+LivHome and the Bain Capital Double Impact team,” said Tim Bubnack, Managing Partner of HCAP. “Arosa+LivHOME brings a strong focus on its employees and a desire to nurture meaningful jobs which is directly in line with our impact focus and our Gainful Jobs Approach™.”
According to Ari Medoff, CEO, “Our industry is at a crossroads. Companies that can improve direct care jobs are going to distinguish themselves in our highly fragmented, growing market. We are devoting our energy and resources to attract, train, retain and treasure the best care partners. In addition, our care management professionals, who are social workers, nurses, and therapists, provide tremendous support to clients, clients’ families, and care partners throughout the care journey. This has proven to be the best model for well over 20,000 clients who have experienced the differentiated care Arosa+LivHOME provides.”
"We believe that in-home care is a key pillar in the continuum of care for aging seniors. We look forward to working with Ari and the Arosa+LivHOME team as they deliver high-quality care to clients and provide rewarding jobs for caregivers," added Hope Mago, a Principal at HCAP Partners.
Arosa+LivHOME is actively seeking high-performing sales talent to join its team as well as add-on acquisitions of high-quality care management companies. For more information, please contact business development at info@livhome.com.
About LivHOME Inc.
LivHOME delivers a personalized package of care management led in-home care services for older adults and their families. Founded in 1999, the company is dedicated to finding solutions that enable older adults to remain in their own homes as long as possible. Based in Los Angeles, LivHOME delivers the highest quality in-home care in California, Illinois, and Texas. For information, contact LivHOME, Inc., 5670 Wilshire Blvd., Suite 500, Los Angeles, California 90036, 1-800-660-CARE, or visit www.livhome.com.
About Arosa LLC
Founded in 2012, Arosa strives to create value by taking an operational approach to investing in the healthcare services industry. Through its affiliates, Nurse Care of North Carolina and Developmental Therapy Associates, it provides non-medical in-home care, skilled in-home care, pediatric therapy, and facility staffing throughout Central and Eastern North Carolina. For information, contact Arosa LLC, 3200 Croasdaile Dr. Suite 701, Durham, North Carolina 27705, 844-968-7730, or visit www.arosallc.com.
About Bain Capital Double Impact
Bain Capital Double Impact (www.baincapitaldoubleimpact.com) is the impact investing strategy of Bain Capital, a leading global private investment firm. Bain Capital Double Impact utilizes Bain Capital's proven, deep diligence, value-added approach to build great companies that deliver both competitive financial returns and meaningful, measurable social and environmental good. Bain Capital Double Impact focuses on health & wellness, sustainability, and community building to create long-term value and meaningful impact at scale. Its goal is to enable the next phase of financial and impact growth for our partner companies, which are solving critical social problems, and doing so profitably. We believe that our value-added approach, experienced team, and broad platform expertise will help our partner companies to thrive.
About HCAP Partners
HCAP Partners was founded in 2000 and is a provider of mezzanine debt and private equity for underserved, lower-middle market companies throughout California and the Western United States. The firm seeks to invest $2 million to $10 million in established businesses generating between $10 million and $75 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 60 companies since it was founded and through ongoing, active engagement with portfolio companies the team at HCAP Partners provides value-added resources to help optimize performance and increase enterprise value. The firm has been recognized as an ImpactAssets 50 fund five years running and, through its Gainful Jobs Approach™, works to facilitate a positive impact on underserved businesses, their employees, and their communities through active portfolio engagement. Partners Tim Bubnack and Frank Mora and Principals Hope Mago and Nicolas Lopez lead HCAP Partners’ investment team. For more information, please visit www.hcapllc.com.
