August 9, 2023
GREENWICH, CT – Great Point Partners (“GPP”), a Greenwich-based private investment firm focused exclusively on the health care industry, is pleased to announce its portfolio company, Family Resource Home Care (Family Resource), has completed the acquisition of Companion Care, Inc. (Companion Care) of Woodinville, Washington. The strategic acquisition accelerates Family Resource Home Care’s plan to expand access to high-quality home care across the Pacific Northwest. With the acquisition of Companion Care, Family Resource has grown to seven locations in the greater Puget Sound region and 29 locations across Idaho, Oregon and Washington, employing over 1,700 home care professionals.
Family Resource is the largest independent home care agency in the Northwest and one of the largest in the United States. It provides home care services to the elderly and disabled, such as personal care, medication management, meal preparation, housekeeping, companionship, dementia support and end-of-life, transitional and respite care. The company has scaled from eight locations in 2019 to 29 to expand access to home care to more of the country’s aging population.
“Family Resource has established itself as one of the premier independent home care agencies in the country,” said Alex Gulotta, Senior Vice President at GPP. “The addition of Companion Care extends Family Resource’s ability to deliver exceptional care and support to families and caregivers in communities across the Puget Sound region. Family Resource’s management team has excelled at achieving sustainable growth while maintaining their reputation as the agency of choice in their markets. We’re excited to continue to partner with Jeff Wiberg and the Family Resource team as they continue to gain market share through organic and inorganic growth.”
Companion Care is a non-medical in-home care agency in Woodinville Washington, offering compassionate care and support to elderly and disabled individuals in need within the King and Snohomish County communities. Founded in 2004, Companion Care is a female-owned and operated business employing 100 people, all of whom have been offered roles with Family Resource.
“We are thrilled to announce our acquisition of Companion Care, Inc., a successful home care agency in the Puget Sound region,” said Jeff Wiberg, CEO of Family Resource Home Care. “Their exceptional track record and dedication to providing outstanding care aligns perfectly with our values. We look forward to warmly welcoming Companion Care, Inc. into our family and together, we will continue to deliver industry best services to even more individuals and families in need within the community.”
GPP completed a growth recapitalization of Family Resource in 2020, representing the firm’s eighth partnership with a health care services organization since its formation in 2003. In 2021, Family Resource acquired Adeo In Home Care and Helping Hands Home Care, two of the largest, independently owned agencies in Oregon.
About Great Point Partners
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with 30 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new minority and majority private equity investments from GPP IV. Great Point manages approximately $1.8B of capital (including committed and uncalled capital) in its private funds and public life sciences equity strategy (BioMedical Value Fund). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 200 growing health care companies. The private equity funds invest across all sectors of the health care industry with a particular emphasis on biopharmaceutical services and supplies, alternate site care, medical device contract manufacturing and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies.
About Family Resource Home Care
Family Resource Home Care is the largest provider of home care services based in the Pacific Northwest and one of the largest in the United States. The company provides home care services that include but are not limited to personal care such as bathing, dressing and help with medications, meal planning and preparation, light housekeeping, and companion care. The company also provides care for clients facing dementia and Alzheimer’s Disease as well as end-of-life, transitional and respite care. More information is available at www.familyresourcehomecare.com.