Announces Acquisitions of Five Home Health and Home Care Agencies
November 17, 2022 – Chicago, IL. PurposeCare, a leading provider of coordinated home care and home health services in the Midwest, announced today the acquisitions of the following agencies: Purpose Home Health, Alliance Home Health Services, A1 Home Health Care and A1 Nursing Care, Newsome Home Health Care and Honor Home Health.
Formed in December 2021 with the acquisition of Indiana-based Purpose Home Health, PurposeCare provides home based care services to more than 3,000 clients a month. The company’s primary audience are individuals who are dually eligible for Medicare and Medicaid. The PurposeCare platform is focused on leveraging the caregiver’s presence in the home to identify changes in its clients condition, enabling timely clinical intervention from the nurses and therapists on the PurposeCare team.
PurposeCare is a portfolio company of Lorient Capital, a private investment firm focused exclusively on the healthcare industry.
“The need for well-coordinated care for our nation’s most vulnerable is the primary driver behind PurposeCare. We greatly appreciate our investment partners who believe in our mission and strategy,” says Rich Keller, chief executive officer, PurposeCare. “With their backing we have the opportunity to serve an unmet need in the home-based care delivery system through improved coordination of home-based services.”
The parent organization’s name is derived from their initial acquisition who operate with a mission of caring for patients ‘as they would care for their own families’. By empowering home health aides as part of the care team and facilitating care management with exceptional nurse leaders, PurposeCare improves quality, reduces cost, creates a rewarding and enriching experience for its caregivers and most importantly offers a better care experience for clients and families.
“PurposeCare has a tremendous opportunity to bring a full continuum of care to Midwest dual eligible patients who are in need of long-term services and support in their most preferred setting” says Jordan Broome, managing partner at Lorient Capital. “Solving for the well documented gaps in care faced by the dual eligible population has been a mission of ours for some time, and we are proud to be backing Rich Keller and the PurposeCare team in this endeavor.”
Beginning in Indiana with the Purpose Home Health acquisition, PurposeCare has rapidly expanded into in Ohio and Illinois with its subsequent partnerships and intends to continue to build in those markets and throughout the Midwest with further acquisitions, de novo investments and organic growth.
Established in December of 2021, PurposeCare offers comprehensive services including home care, home health that are carefully coordinated to keep clients healthy and safe at home. With excellent caregivers, innovative technology, and family care navigation PurposeCare ensures that our most vulnerable are provided with the support necessary to live full lives in their community. For more information visit www.purposecare.com
Lorient is a private investment firm focused exclusively on the healthcare industry. Our distinctive approach blends our roots as entrepreneurs, operators, and investment professionals to build market-leading healthcare services and technology companies. Visit us at: https://lorientcap.com/.