The quickest rising corporations in residence care

A number of home care providers – and companies across the pension sector – are among the fastest growing companies in the country. In fact, these companies recently secured a spot in the Inc. 5000 annual ranking.

Companies like connectRN, Entrusted Pediatric Home Care, BarbaraKares In-Home Care Services, Connect Pediatrics, and Electronic Caregiver appeared in the top half of the list.

One such company, connectRN, is a platform designed to help nurses and other caregivers find work. connectRN has grown 1,472% in three years.

The company has been primarily involved in the skilled nursing facility (SNF) space, but that changed last year when Amedisys Inc. (Nasdaq: AMED) became one of its financiers. Amedisys participated in connectRN’s $76 million funding round.

Home health care has been a key area of ​​focus for connectRN ever since. Additionally, the company brought in Cora Jaulin to lead the home health business.

“We definitely continue to learn about the needs in the home health space,” Jaulin previously told Home Health Care News. “There is still a shortage of skilled workers. As such, it is the perfect time for us to jump into this space, to help our home health care partners truly rethink how they can provide GP opportunities and to deliver our overall promise of choice and opportunity , continue to redeem.”

BarbaraKares is one of the newer companies making a splash on the list. Founded in 2017, the company offers a variety of home services. The company has seen sales grow 958% in three years.

Along with BarbaraKares, Compati Home Health Care, a provider of non-medical home care services for veterans and privately-paying customers, also made the list for the first time.

College Station, Texas-based healthcare and hospice agency Traditions Health also earned a spot on the list. Over the past year, the company has made a number of acquisitions, including Area Community Hospice and AmeraCare Family Hospice and Home Health.

More recently, in March, the company bought Serenity Health Management. Traditions Health has grown 377% in three years. This is Traditions Health’s fourth appearance on the list. The company first appeared in 2019.

Another returnee to the list was Trella Health, a post-acute care data analytics company that has grown 366% in three years. Trella Health acquired PlayMaker Health earlier this year.

With PlayMaker Health under its umbrella, Trella Health has a little over 50% market share of the top 200 health and hospice organizations in the United States

HealthFlex Home Health & Hospice was once a small agency but over the years has grown to be one of the largest private providers in California.

HealthFlex Home Health & Hospice serves approximately 12 counties in Northern California. The company has grown from one location to four. The company has grown 255% in three years.

The company credits strategic partnerships for its growth.

“Initially, our goal was to truly be a valuable partner to the major healthcare organizations and systems in Northern California,” Alex Koshevatsky, co-CEO and co-founder of HealthFlex Home Health & Hospice, previously told HHCN. “There were some [accountable care organizations] which we followed and started working closely with the hospitals and we really wanted to make sure we had contracts with all the big ones [Medicare Advantage] players in our region. That really helped us to grow fast.”

Homecare franchises, BrightStar Group Holdings and HomeWell Franchising also made the list. BrightStar Care has grown 89% in three years.

In the end, BrightStar Care bought back agencies and operated them in-house. The company’s system-wide revenue is approximately $700 million, with a similar ROI at company-owned sites.

HomeWell has grown 88% in three years. It made headlines recently when it announced it would be waving its initial franchise fee to new owners. These owners are allowed to reinvest this fee into the company.

“At HomeWell, we really want to take the lead, we want to innovate and take bold steps to help our owners and meet home care needs,” HomeWell CEO Crystal Franz told HHCN previously. “I’m not sure other home care franchises will follow suit, but we’re hopeful for that endeavor. We believe it will help us achieve our goals of becoming a more national brand and also benefit our current franchised vehicles.”

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