One of the larger home care organizations in the U.S., Help at Home, has made a significant leap in expanding its reach.
The company announced last week that it’s entering into New York – a state it had previously not been in – with the acquisitions of Edison Home Health Care and Preferred Home Care of New York.
Between the two agencies, Help at Home will gain 10,500 new clients, 12,000 new employees and a geographic footprint in at least 55 New York counties. The acquisitions will additionally bolster its footprint in Pennsylvania.
“We love the fact that they’re in the state of New York and the geographic diversity that these two acquisitions will bring to Help at Home,” Tim O’Rourke, the president of Help at Home, told Home Health Care News. “New York is the largest home- and community-based services state in the country. We love a state that has that density and providers that have that density, much like we have throughout the rest of Help at Home.”
Overall, The Vistria Group-backed Help at Home has more than 170 branch locations across 11 states. It provides in-home and community-based services to an average of 52,000 clients monthly via 30,000 caregivers.
With an almost entirely new executive team and private equity backing, Help at Home has been geared for expansion, and this looks to be the first major step.
The company had been rumored to be the next candidate for an entrance to the public market, but has not yet commented on any intentions to do so.
At the end of 2021, Help at Home made three other acquisitions across the U.S. – one in Ohio, one in Pennsylvania and another in Georgia.
“For us, integration is more about thinking how we can continue to grow together,” O’Rourke said. “They do a lot of great things here in New York. So from our perspective, it’s about what can we learn from them, and, in turn, what can we teach them in terms of best practices. So we’ll continue to integrate over this year, but really look for opportunities where we can grow together.”
Edison Home Health Care and Preferred Home Care of New York share the same majority owner, which made the deal more seamless to get done at the same time.
Adding 12,000 new caregivers is an opportunity that would be coveted by any provider in this environment. Although Help at Home is happy where it’s at in terms of hiring – O’Rourke said the company hired 1,500 caregivers just last month – staffing is now a major part of the M&A equation in home-based care.
Getting a foot in the door in New York is a milestone for Help at Home, and given the state’s significance, there is a chance still that the company could look to make further acquisitions there, O’Rourke said.
“We think this is a great platform to have now in the state of New York,” he said. “And I think it’ll create growth opportunities as we go forward. So we think there’s a lot of room to continue to grow, even though we’ve now got one of the largest combined home care providers in the state.”
With just these two acquisitions, New York immediately becomes one of the Chicago-based company’s states where it has the most density, joining Illinois and Indiana.
O’Rourke did not disclose what the next state Help at Home will enter may be, but did acknowledge that it’s “pretty particular” when it comes to entering new states.
For now, Help at Home is focused on organically growing and also building out density in the states it’s currently operating in.