Arosa — the in-home care company backed by Bain Capital Double Impact and formerly known as Arosa+LivHome — is ramping up its M&A activity in 2021.
Toward the beginning of the year, Arosa entered the New Jersey market following the acquisition of Aveanna Concierge Services. On Monday, the in-home care provider announced it has now acquired Family Staffing Solutions, a Tennessee-based home care company with offices in Nashville, Murfreesboro and Shelbyville.
“We found that this could be a great marriage with a company that has nearly three decades of experience serving clients and caregivers in Middle Tennessee,” Arosa COO Cyril Vergis told Home Health Care News. “We’re able to pair their history and care capabilities with the care management services that we already provide in the market.”
Financial terms of the deal were not disclosed.
Founded in 1999, Family Staffing Solutions is a private-pay home care provider with a proven track record of training caregivers, Vergis said. That’s a key quality for Arosa, which promised to turn staffing into a strength after its formation in 2018.
“There’s this growing need and demand for services,” Arosa CEO Ari Medoff told HHCN at the time. “Most important to me, though, was that I thought we could create better jobs for our caregivers. It’s an industry with an extraordinarily difficult employment dynamic.”
In acquiring Family Staffing Solutions, Arosa adds more than 100 clients, in addition to roughly 100 caregivers.
With the new provider in tow, Arosa’s footprint grows to 28 locations in eight states: California, Florida, Illinois, Massachusetts, New Jersey, North Carolina, Tennessee and Texas. Along with the New Jersey deal, the provider also opened two de novo locations in San Francisco and Pasadena, California, this year.
Vergis anticipates to build upon both organic and inorganic growth throughout the remainder of 2021 as well. For context, around when Arosa first launched, it had 16 offices in just four states.
“2021 is a perfect example of where we’ve gone down both of the strategies,” he said. “We have identified markets where we have complementary locations nearby. And just as we have over the last three years, we’ll likewise continue to look at strategic M&A opportunities.”
Family Staffing Solutions was previously led by founder and CEO Becci Bookner.
“For the last three decades, it has been an indescribable joy and honor to work with families and caregivers to provide exceptional personal care assistance,” Bookner said in a statement. “It is now an even greater honor for Family Staffing Solutions to become a part of Arosa and its rapidly expanding national presence as the leader in integrated care management and caregiving services.”
Bookner, along with Family Staffing Solutions CFO Dana Cassidy, plan on retiring following the acquisition, Vergis said.
“We’ve already begun the integration process with our existing operations,” he added. “Becci and Dana made this decision because they found that they were at a point where they wanted to move on to a different point in their lives, to really step back from the day-to-day operations of running this home care company.”
Arosa already had a presence in Tennessee, thanks to its purchase of LifeLinks, a care management provider, in 2019. Knowing it could seamlessly layer care management on top of Family Staffing Solutions’ care delivery model was a major consideration, Vergis said.
Broadly, Arosa has invested so heavily in care management for three reasons.
For starters, having dedicated care management capabilities can bring home care clients in sooner, helping with organic growth.
“Typically, that phone call for home care comes after an emergency takes place,” Vergis said. “With care management services, we are able to connect with families and their trusted circle prior to there being an emergency event. If there is one, we’re able to be there alongside them.”
Additionally, the combination of home care and care management helps retain caregivers, partly by giving them colleagues that double as senior care coaches. Care management also helps keep clients by boosting their satisfaction with Arosa’s services, the COO noted.
Overall, Arosa employs over 70 care managers across the country.
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