Centerbridge, Vistria Weigh Sale of $3bn Health-Care Firm

Help at Home’s private equity owners are weighing options including a potential sale of the at-home care provider, people with knowledge of the matter said.

Centerbridge Partners and Vistria Group are working with advisers to gauge interest in Chicago-based Help at Home, which could be valued at $3bn or more, according to the people. A formal sale process may begin as soon as the first quarter of 2024, they said. 

Deliberations are in the early stages and there’s no certainty they’ll result in a transaction, the people said, asking not to be identified discussing confidential information. 

A representative for Centerbridge Partners declined to comment, while spokespeople for Vistria Group and Help at Home didn’t immediately respond to requests for comment. 

Founded in 1975, Help at Home helps provide at-home and community-based care to the elderly and people with disabilities across the South and Midwest in the US, according to its website. 

Centerbridge and Vistria bought Help at Home in 2020 from Wellspring Capital, which remained a minority investor. The following year, Bloomberg News reported that the company was exploring going public to capitalize on surging demand for home-based care during the Covid-19 pandemic.

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Help At Home is a leading provider of at-home and community-based care to the elderly and people with disabilities across the South and Midwest in the US. The company was founded in 1975 and has grown to provide care to over 66,000 individuals across 11 states. Help At Home employs over 53,000 caregivers who provide a wide range of services, including personal care, assistance with activities of daily living, and home health care.

Help at Home has been a strong performer under Centerbridge and Vistria’s ownership. The company has expanded its service offerings, enhanced its technology infrastructure, and grown its patient base. 

 Interested parties are expected to include strategic acquirers, private equity firms, and financial sponsors.

Source: BNN Bloomberg

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