September 8, 2020
GREENWICH, CT and SPOKANE, WA – Great Point Partners (“GPP”) today announced a growth recapitalization of Liberty Lake, Washington-based Family Resource Home Care (“FRHC”), a leading provider of home care services, operating nine field offices throughout Washington and Idaho. The Company’s locations provide a wide array of private duty home care services to thousands of clients each year. Family Resource Home Care drives quality and clinical standardization across its locations through its client-centric and data-driven operations. The Company’s focus on clinical excellence allow for best-in-class caregiver retention, quick turnaround times, and a high-touch experience for clients and families that have trusted FRHC since its inception in 1966.
“We first met Great Point in 2018 and we were immediately impressed with their deep knowledge of our market and health care expertise. Great Point’s unique insights into the home care market along with their expertise executing acquisitive growth strategies in health care services helped differentiate GPP from its peers,” said Jeff Wiberg, CEO of Family Resource Home Care. “Through this partnership we can achieve our goal of expanding our services to more client populations, while maintaining the highest level of care.”
“We are thrilled to partner with Jeff and the FRHC team to help the Company accelerate its growth and continue to establish itself as one of the Country’s largest independent providers of non-medical home care,” said Rohan Saikia, Managing Director at Great Point Partners.
“Given the fragmented landscape and industry tailwinds, Great Point identified the private-pay home care industry as a significant growth opportunity. FRHC has a successful track record as a consolidator in the sector and we are excited to help the Company continue its expansion strategy,” added Alex Gulotta, Vice President at Great Point Partners.
About Great Point Partners
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $2.0 billion of equity capital currently under management and 30 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP III, which has $307 million of committed capital. Great Point manages capital in private (GPP I, $156 million and GPP II, $215 million of committed capital, and GPP III) and public equity funds (BMVF, approximately $1.5 billion). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical services and supplies, pharmaceutical infrastructure, medical device, information technology enabled businesses and alternate site care. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or www.gppfunds.com.
About Family Resource Home Care
Family Resource Home Care is the largest independent 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. Family Resource Home Care is focused on empowering clients to continue living at home by providing them with home care services that address their unique challenges. The Company is headquartered in Liberty Lake, WA, and has field offices in Arlington, Bellevue, Kennewick, Liberty Lake, Seattle, Spokane and Tacoma in Washington State, and Boise and Moscow, Idaho. More information on the Company and its services can be viewed online at www.familyresourcehomecare.com