Livingstone’s Healthcare team is pleased to announce the sale of SYNERGY HomeCare to NexPhase Capital. Livingstone acted as the exclusive financial advisor to SYNERGY HomeCare.
With over 15 years of brand equity, SYNERGY HomeCare is one of the largest franchisors of in-home senior care services with approximately 140 franchisees operating in more than 300 franchise locations nationwide. The Company provides a range of services to the senior population including non-medical personal care, companion care, and specialized care for individuals who are physically or developmentally disabled, living with chronic health conditions, or recovering from illness or surgery.
“Livingstone’s experience in the home care sector and foresight during the transaction process proved invaluable. Jim and his team provided the right direction and guidance at every turn and helped secure the ideal outcome for SYNERGY HomeCare, our franchisees, our clients, and our caregivers.” Peter Tourian, Founder and Chief Executive Officer of SYNERGY HomeCare, added, “We very much look forward to our partnership with NexPhase, and, as an entrepreneur, I believe we found everything we were looking for in a partner.”
“The market for non-medical home care services is expected to grow exponentially in the coming decade, and it is becoming a much larger and more critical piece of the broader care continuum given the evolving value-based reimbursement landscape. As such,” said Jim Moskal, Partner at Livingstone, “we anticipate strong continued interest in these types of assets as the business model, demand drivers, and overall industry outlook remain favorable.”
SYNERGY HomeCare represents Livingstone’s ninth healthcare transaction closed in the last 24 months and the third successful transaction in the non-medical home care franchisor sector, following the sale of Homewatch CareGivers to PNC Riverarch and the sale of Home Helpers to Linsalata Capital Partners.