Altocare's Strategic Move: Acquisition of MedTec Healthcare

Altocare Expands Reach with MedTec Healthcare Acquisition

Altocare, a promising home care holding company fueled by Waud Capital Partners, has just completed a significant acquisition of MedTec Healthcare, a company renowned for its dedication to in-home and adult day care services. This acquisition is a strategic move aimed at establishing Altocare as a market leader in the home-based care sector.

The Vision of Altocare

Founded with the intention of transforming home care services, Altocare is dedicated to meeting the growing demand for quality care solutions. With the incorporation of MedTec into its portfolio, Altocare is now positioned to create a robust network that enhances service delivery for both private-pay and Medicaid-supported clients. MedTec, alongside existing operations under Senior Helpers, will maintain its brand identity while contributing to an integrated approach to home care.

Leadership Influence in the New Structure

Steve Jakubcanin, a seasoned executive at Waud Capital, has been appointed Altocare's Executive Chairman. With over two decades of experience in healthcare management, Steve's insightful leadership is anticipated to guide the company towards its strategic goals. His comprehensive understanding of patient care and operational excellence is vital as Altocare endeavors to scale efficiently and sustainably.

Enhancing Care Quality Together

"This acquisition represents a pivotal step in our journey to establish a premier home care platform focused on delivering outstanding care across communities," Steve Jakubcanin shared. He emphasized that MedTec's commitment to quality resonates with Altocare's mission. Together, they aim to improve care services, armed with a vision for better health outcomes for clients and their families.

MedTec's Commitment to Quality Care

Shihwan Chung, the CEO of MedTec Healthcare, expressed great enthusiasm about joining the Altocare family. He stated, "This marks an exciting chapter for us as we collaborate with Waud Capital and Altocare. Our shared values and commitment to compassionate service delivery will enable us to enhance our impact and the quality of care for our clients. We look forward to this partnership as a means to foster innovation and community engagement."

About MedTec Healthcare

Established in Illinois, MedTec Healthcare specializes in culturally tailored in-home care services, aiding clients in maintaining their independence. The company also offers adult day centers that provide various services such as transportation and engaging activities for seniors. MedTec is well-regarded for its compassionate caregiving and its mission to cater to the diverse needs of the communities it serves.

About Altocare and Future Prospects

As an evolving entity in the home care industry, Altocare positions itself strategically to respond to the pressing needs of accessible home care services. The acquisition of MedTec amplifies Altocare's capabilities and complements Waud Capital's investment strategy, which includes a commitment to the healthcare sector through strong partner relationships. The company plans to continue its geographical and service expansion to meet the increasing demands of the healthcare market.

Waud Capital Partners Overview

Waud Capital Partners, based in Chicago, is a private equity firm with over three decades of investment expertise. Focused on healthcare and technology sectors, Waud Capital has an impressive track record of over 480 investments aimed at collaborating with dynamic management teams to build leading companies. Their strategic guidance is expected to bolster Altocare's growth trajectory.

Investment Contacts

For inquiries regarding investments or business development within Altocare or Waud Capital Partners, interested parties can connect with:

Kyle Lattner, Partner

Phil Olson, Partner

Jessica Schmitt, Head of Investor Relations

Frequently Asked Questions

What is Altocare?

Altocare is a newly formed home care holding company created by Waud Capital Partners, focused on enhancing the quality of in-home care services.

Why did Waud Capital acquire MedTec Healthcare?

The acquisition aims to build a comprehensive home care platform through Altocare, enhancing the reach and quality of services offered.

Who leads Altocare's executive team?

Steve Jakubcanin, with extensive healthcare leadership experience, serves as the Executive Chairman of Altocare.

What services does MedTec provide?

MedTec Healthcare specializes in in-home care and operates adult day centers, ensuring culturally sensitive care for seniors.

How does this acquisition affect clients?

Clients will benefit from improved service quality and expanded resources, ensuring they receive top-notch care tailored to their needs.

About The Author

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