Liberty Lake-based Family Resource Home Care has established a presence in Oregon through a pair of acquisitions.
Jeff Wiberg, CEO of Family Resource Home Care, says the company bought Portland-based Helping Hands Home Care and Tigard-based Adeo In Home Care in mid-June.
“We had not had any presence in Oregon at all, yet we’d been touting ourselves as being one of the largest providers of home care in the Pacific Northwest for a long time, and Oregon is really a quintessential part of the Northwest,” Wiberg says.
Family Resource provides in-home care services such as nursing care, medication management, personal care, and dementia support for seniors and disabled people, as well as people living with a chronic illness or severe injury.
With the additions of Adeo and Helping Hands, Family Resource now has 24 locations in Washington, Idaho, and Oregon. The acquisitions add about 600 employees to the company, bringing its total employee count to about 1,500.
Wiberg declines to disclose the terms of the transactions.
Family Resource plans to keep growing and was in acquisition talks with another company as recently as last week, Wiberg says.
“That will be an ongoing process for us,” he says. “In fact, we’ve even formed a team internal to Family Resource whose job it is to help with the diligence and the integration of acquisitions.”
Headquartered at 23403 E. Mission in Liberty Lake, Family Resource has completed several acquisitions in recent years as part of its growth strategy, including picking up Spokane-based AtHome Care in 2016 and Arlington, Washington-based Cascade In-Home Care in 2019.
Family Resource Home Care was previously called Family Home Care. The company changed its name in 2018, after it merged with the Seattle-based Family Resource Home Care.
Family Resource hopes to cover 92% of Oregon’s in-home care market, he says. With the acquisitions of Adeo and Helping Hands, the company now reaches about 79% of that market.
Wiberg says he was familiar with Adeo and Helping Hands through his network of industry connections.
“It’s a good cultural match,” Wiberg says. “I knew them well enough to know that we were aligned in terms of the way we see home care and the values that we operate our businesses by.”
Wiberg says all three companies view taking care of employees as vital to running a successful company.
“In this ever-tightening job market, it’s critical to have a culture that supports the employees and tries to pay them adequately and provide them with a rich array of benefits,” Wiberg says.
In September 2020, Family Resource Home Care entered into an investment partnership with Greenwich, Connecticut-based health care-focused private equity group Great Point Partners. Great Point’s acquisition of 70% ownership interest infused Family Resource Home Care with about $20 million. At the time, Wiberg noted that the funds helped Family Resource to pay off all of its debts.
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