DALLAS—Havencrest Capital Management ("Havencrest"), a Dallas-based health care private equity firm, announced the formation of its non-medical homecare platform, Avid Health at Home ("Avid" or the "company") in connection with its first acquisition of Chicago-based For Papa's Sake Home Care ("FPS").
Founded in 2011 and headquartered in Arlington Heights, Illinois, FPS is a leading provider of non-medical homecare in the greater Chicago area. FPS has received multiple awards and accolades for excellence over the years, including being named the #1 agency in North America by Home Care Pulse in 2022, and Havencrest Operating Partner Jen Lentz is the CEO of the Avid platform.
"We are very excited about the creation of Avid as well as our partnership with FPS," said Christopher W. Kersey, founding managing partner of Havencrest. "With Jen's leadership and her successful operating track record in the post-acute care market space, our investment in FPS represents a strategic entry point into home care and will allow Avid to establish market leadership and expand access to quality care for patients across the Chicago market."
"At Avid, our goal is to establish a platform that provides quality person-to-person care that leverages industry best practices as well as innovative technology," Lentz said. "Havencrest is the catalyst to achieve that goal through our shared vision of expanding the critical role that home care plays in the larger health care delivery system."
Avid is actively exploring new acquisition opportunities in home care across the Midwest, Mid-Atlantic and Mountain West geographies.
"We believe there is significant opportunity to innovate in-home care through a focus on technology, training and quality measures," Jett Aubrey, principal of Havencrest, said. "Homecare is increasingly demanding a bigger seat at the post-acute table, and we believe that Avid is positioned to be that provider of choice for patients, providers and payers."
