Altocare Enhances Home Care Services with MedTec Acquisition
In a strategic move to dominate the home care sector, Waud Capital Partners has successfully acquired MedTec Healthcare, positioning its newly formed holding company, Altocare, at the forefront of the industry. The acquisition marks a significant milestone in Waud Capital's plan to build a robust platform focused on home-based care services, consolidating its existing investments, particularly with Senior Helpers.
Altocare is set to broaden its reach by integrating MedTec Healthcare, a well-respected provider of in-home care and adult day services renowned for its culturally sensitive approaches. Benefiting from its reputation as a compassionate service provider, MedTec operates not only in-home care but also adult day centers, providing essential services like transportation and meals, helping seniors maintain their independence.
As both companies continue to uphold their established brands and leadership, the synergy between MedTec and Senior Helpers is expected to create a comprehensive home care platform curated to meet the diverse needs of private-pay and Medicaid-supported clients. Steve Jakubcanin, an Executive Partner at Waud Capital with extensive experience in healthcare operations, will step into the role of Executive Chairman at Altocare. His impressive background in managing multi-site operations and his success in scaling companies will be instrumental as Altocare seeks to enhance home care services and improve health outcomes for clients and families alike.
"This acquisition signifies a pivotal step in our ambition to forge a leading home care platform that prioritizes exemplary care," commented Steve Jakubcanin. He emphasized the alignment of MedTec Healthcare’s commitment to quality with Altocare’s mission. The goal is to leverage this partnership to strengthen home care offerings and achieve better outcomes across their clientele.
On MedTec Healthcare's side, CEO Shihwan Chung voiced excitement regarding the merger. He remarked that this is an energizing new chapter, highlighting the synergy that joining forces with Altocare and Waud Capital Partners presents. Chung points out that this collaboration opens doors for expanding their impact and improving care quality, reinforcing a commitment to innovation and shared values, ultimately aiming for a stronger future serving their communities.
Founded in Illinois, MedTec Healthcare has carved a niche by offering tailored in-home care services responding to linguistic and cultural needs. Its commitment reflects a strong dedication to providing quality care that recognizes and respects the unique aspects of each community served. This acquisition not only gives Altocare an opportunity to penetrate deeper into the market but also enhances the potential for geographic expansions and service offerings in the future.
Altocare stands to revolutionize home care across its operational landscape, following the foundational strategy of Waud Capital which has been a growth-focused private equity firm for more than thirty years. Since its inception in 1993, Waud Capital has successfully conducted over 480 investments, tapping into two key industries: healthcare and software technology.
With the home care market on an upward trajectory, the merger between Altocare and MedTec Healthcare is set to maximize resources, scale operations, and ultimately enhance the quality of service to clients and their families throughout Illinois and beyond. By marrying client-centric care with strategic growth initiatives, Altocare appears well-equipped to navigate and innovate within the dynamic landscape of home care services.
Altocare is set to broaden its reach by integrating MedTec Healthcare, a well-respected provider of in-home care and adult day services renowned for its culturally sensitive approaches. Benefiting from its reputation as a compassionate service provider, MedTec operates not only in-home care but also adult day centers, providing essential services like transportation and meals, helping seniors maintain their independence.
As both companies continue to uphold their established brands and leadership, the synergy between MedTec and Senior Helpers is expected to create a comprehensive home care platform curated to meet the diverse needs of private-pay and Medicaid-supported clients. Steve Jakubcanin, an Executive Partner at Waud Capital with extensive experience in healthcare operations, will step into the role of Executive Chairman at Altocare. His impressive background in managing multi-site operations and his success in scaling companies will be instrumental as Altocare seeks to enhance home care services and improve health outcomes for clients and families alike.
"This acquisition signifies a pivotal step in our ambition to forge a leading home care platform that prioritizes exemplary care," commented Steve Jakubcanin. He emphasized the alignment of MedTec Healthcare’s commitment to quality with Altocare’s mission. The goal is to leverage this partnership to strengthen home care offerings and achieve better outcomes across their clientele.
On MedTec Healthcare's side, CEO Shihwan Chung voiced excitement regarding the merger. He remarked that this is an energizing new chapter, highlighting the synergy that joining forces with Altocare and Waud Capital Partners presents. Chung points out that this collaboration opens doors for expanding their impact and improving care quality, reinforcing a commitment to innovation and shared values, ultimately aiming for a stronger future serving their communities.
Founded in Illinois, MedTec Healthcare has carved a niche by offering tailored in-home care services responding to linguistic and cultural needs. Its commitment reflects a strong dedication to providing quality care that recognizes and respects the unique aspects of each community served. This acquisition not only gives Altocare an opportunity to penetrate deeper into the market but also enhances the potential for geographic expansions and service offerings in the future.
Altocare stands to revolutionize home care across its operational landscape, following the foundational strategy of Waud Capital which has been a growth-focused private equity firm for more than thirty years. Since its inception in 1993, Waud Capital has successfully conducted over 480 investments, tapping into two key industries: healthcare and software technology.
With the home care market on an upward trajectory, the merger between Altocare and MedTec Healthcare is set to maximize resources, scale operations, and ultimately enhance the quality of service to clients and their families throughout Illinois and beyond. By marrying client-centric care with strategic growth initiatives, Altocare appears well-equipped to navigate and innovate within the dynamic landscape of home care services.
Topics Health）
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