Livingstone is pleased to announce the firm’s healthcare team has advised Advocate Aurora Enterprises on the acquisition of Senior Helpers. Advocate Aurora Enterprises is a subsidiary of Advocate Aurora Health (“Advocate Aurora”), one of the 12 largest not-for-profit, integrated health systems in the nation. Livingstone acted as exclusive financial advisor to Advocate Aurora.
Founded in 2002, Senior Helpers is a leading franchisor and premier provider of in-home senior care services operating more than 320 locations across 44 states, Canada, and Australia. Senior Helpers’ industry-leading services range 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 assistance with daily activities.
Advocate Aurora Enterprises was established to invest in businesses that enable people to improve their health and well-being beyond traditional clinical care settings. Through a commitment to Whole Person Health, Advocate Aurora Enterprises’ three focus areas include (i) Aging Independently, enabling aging seniors to thrive safely and comfortably in their homes; (ii) Parenthood, supporting parents in raising healthy and happy kids with less stress and greater confidence; and (iii) Personal Performance, helping people to achieve their mind, body, and nutrition goals. Senior Helpers represents the second investment for Advocate Aurora Enterprises.
“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 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.” The Senior Helpers leadership team will continue in their current roles.
“As demand for non-medical home care services is expected to remain robust for the next decade, and these services become a much larger and more critical piece of the broader care continuum, we anticipate strong continued interest in these types of assets as the business model, demand drivers, and overall industry outlook remain favorable,” said Jim Moskal, Partner at Livingstone.
“Livingstone’s transaction experience in the home care sector was valued,” commented Advocate Aurora Health Senior Vice President of Mergers & Acquisitions Vamsi Botla. “Their in-depth knowledge of the unique characteristics of the franchise model proved instrumental in our assessment of Senior Helpers.”
Mark Carl, Director at Livingstone, added, “This transaction is a prime example of leveraging our extensive sector expertise in conjunction with professional advisory services to assist acquirers in their evaluation of an opportunity.”
The acquisition of Senior Helpers represents Livingstone’s fourth successful transaction in the non-medical home care franchisor sector, following the sales of Synergy Homecare to NexPhase Capital, Homewatch CareGivers to PNC Riverarch, and Home Helpers to Linsalata Capital Partners.