Altocare, a newly formed home care holding company of Waud Capital Partners, acquires MedTec Healthcare
MedTec will join Senior Helpers under the Altocare umbrella, creating a comprehensive home care platform that focuses on serving private-pay and Medicaid-supported clients. As part of the acquisition, MedTec Healthcare and Senior Helpers will continue to operate under their existing brands and leadership.
Steve Jakubcanin, an Executive Partner at Waud Capital with over 20 years of healthcare operating experience in home care and other post-acute sectors, will serve as Altocare's Executive Chairman. As a former clinician and experienced executive, he brings a deep understanding of multi-site operations and patient care, and he has successfully scaled organizations through both organic and inorganic strategies.
'This acquisition represents a significant step in our vision to create a leading home care platform that delivers best-in-class care,' said Steve Jakubcanin. 'MedTec Healthcare's dedication to quality and its strong market presence align perfectly with our mission. We look forward to working together to enhance home care services and improve outcomes for the clients and families we serve.'
Shihwan Chung, CEO of MedTec Healthcare, expressed enthusiasm about the transition, stating, 'This marks an exciting new chapter for MedTec Healthcare. Joining forces with Altocare and Waud Capital Partners presents a tremendous opportunity to expand our impact and elevate the quality of care we deliver to our clients and their families. With shared values and a commitment to innovation, we look forward to building a stronger future together and continuing to serve our communities with excellence and compassion.'
About MedTec Healthcare
Founded in Illinois, MedTec Healthcare provides culturally, and linguistically tailored in-home care services designed to help clients maintain their independence. The company also operates adult day centers offering transportation, meals, and engaging activities for seniors. MedTec is recognized for its compassionate approach to caregiving and its commitment to meeting the unique needs of diverse communities serving clients across Illinois. ( www.medtechealthcare.com )
About Altocare
Altocare, a newly formed home care holding company of Waud Capital Partners, is pleased to announce the acquisition of MedTec Healthcare. This strategic acquisition enhances Altocare's ability to address the growing demand for accessible home care services. This addition complements Waud Capital's existing investments in home-based care (Senior Helpers) and positions Altocare as a scaled provider in the sector with plans for geographic and service expansion. ( www.altocare.com )
About Waud Capital Partners
Based in Chicago, Waud Capital Partners is a growth-oriented private equity firm with over 30 years of investing experience. Waud Capital seeks to partner with experienced management teams to build market-leading companies within two industries: healthcare and software & technology. Since its founding in 1993, Waud Capital has successfully completed more than 480 investments, including platform companies and follow-on opportunities. For additional information on Waud Capital, please visit www.waudcapital.com.
Investment Professional Contact:
Kyle Lattner, Partner
[email protected]
Business Development Contact:
Phil Olson, Partner
[email protected]
Investor Relations Contact:
Jessica Schmitt, Head of Investor Relations
[email protected]
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