Who is buying home care agencies?
16 named consolidator platforms are actively acquiring US home care businesses; 15 of them are private-equity-backed. Typical home care acquisitions price at 3x-8x EBITDA (2.2x-3.6x SDE for smaller owner-operated businesses), per published ranges from Scope Research, FOCUS Investment Banking and others. The most recent named acquisition tracked on this page closed in September 2026.
Why home care agencies are consolidating
- •The personal home care segment led 2025 dealmaking with 59 deals, up 43.9% year over year, within a broader Home Care sector (including home health and hospice) that rose 40.5% to 104 announced or completed transactions, according to Capstone Partners.
- •Across the Home Care sector in 2025, private equity completed 43 deals (11 platform investments and 32 add-ons) and strategic buyers completed 61, a 58.7% share of activity, according to Capstone Partners.
- •Private companies made up 67.2% of strategic-buyer volume in 2025, which Capstone attributes to the sector's highly fragmented composition, according to Capstone Partners.
- •IBISWorld describes the home care industry as highly fragmented, with no single provider holding more than 5% of total market share and a market made up largely of small independent agencies, according to VERTESS.
- •Seventeen home care transactions were announced in Q1 2025. Eleven of them were Medicaid-funded, spread across 10 states and made by nine different sponsor-backed strategic buyers, according to Mertz Taggart.
- •Non-medical home care closed 8 transactions in Q2 2026: three platform investments, three sponsor-backed add-ons, one public-company deal and one independent buyer, according to Mertz Taggart.
The platforms consolidating home care agencies
The named groups acquiring US home care businesses, with their current owner and a source for each. Most grow through individual partnerships that are not separately disclosed; where a platform publishes named deals, recent ones are listed.
| Acquirer | Owner / backer | Type | Headquarters | Latest named deal |
|---|---|---|---|---|
| Help at Home | Centerbridge Partners and The Vistria Group (Wellspring Capital stayed on as a minority investor at the 2020 close) | Private equity | Chicago, IL | May 2025 |
| Addus HomeCare | Public company (Nasdaq: ADUS) | Strategic / public | Frisco, TX | Sep 2026 |
| TEAM Services Group | General Atlantic (bought from Alpine Investors; closed early Apr 2026) | Private equity | San Diego, CA | — |
| Amivie (formerly Community Based Care) | Martis Capital | Private equity | Research Triangle Park, NC | Jun 2026 |
| Care Advantage | Searchlight Capital Partners (majority stake, bought from BelHealth Investment Partners in 2021) | Private equity | Richmond, VA | May 2026 |
| HouseWorks | InTandem Capital Partners (since Dec 2022) | Private equity | Woburn, MA | Mar 2026 |
| Avid Health at Home | Havencrest Capital Management | Private equity | Chicago, IL | Jul 2026 |
| Choice Health at Home | Coltala Holdings and Trive Capital | Private equity | Tyler, TX | Jan 2026 |
| Altocare (Senior Helpers and MedTec Healthcare) | Waud Capital Partners | Private equity | Dallas, TX | Apr 2025 |
| Active Day | Audax Private Equity (since Dec 2015) | Private equity | Trevose, PA | Apr 2025 |
| Family Resource Home Care | Great Point Partners (investment partnership since 2020) | Private equity | Liberty Lake, WA | Feb 2025 |
| PurposeCare | Lorient Capital (since Dec 2021) | Private equity | Indianapolis, IN | Mar 2026 |
| Dovida | Ardian (majority stake in Horizon Home Care Group AG; agreement signed Jul 2025) | Private equity | Rheinfelden, Switzerland | Feb 2026 |
| Cornerstone Caregiving | Warburg Pincus | Private equity | Waco, TX | — |
| Freedom Senior Services | Gemspring Capital | Private equity | Louisville, KY | — |
| Elder Care Homecare | Rallyday Partners | Private equity | Scarsdale, NY | — |
Help at Home
Private equity- Owner
- Centerbridge Partners and The Vistria Group (Wellspring Capital stayed on as a minority investor at the 2020 close)
- Headquarters
- Chicago, IL
- Scale
- More than 150 community hub locations across 11 states, serving 60,000 clients with more than 50,000 caregivers (as of Jan 2026, per company boilerplate)
No sale found through Oct 2026. Mertz Taggart called it Vistria-backed in its Q2 2025 report. The American Prospect (Mar 2025), citing a watchdog report, said a Sep 2024 debt raise funded a payout to Centerbridge, Vistria and minority owner Wellspring. Wellspring's stake after that date is unconfirmed.
Addus HomeCare
Strategic / public- Owner
- Public company (Nasdaq: ADUS)
- Headquarters
- Frisco, TX
- Scale
- About 62,500 consumers through 264 locations across 24 states (Sep 2026)
The AccentCare deal (about $275M) is pending regulatory approvals and customary closing conditions. Addus also runs hospice and home health. Personal care was 77.3% of revenue in Q1 2026.
TEAM Services Group
Private equity- Owner
- General Atlantic (bought from Alpine Investors; closed early Apr 2026)
- Headquarters
- San Diego, CA
- Scale
- Operates in all 50 states and employs 100,000 caregivers and household staff
Bloomberg reported the price at about $3B including debt, and there was no public announcement. Besides agency home care, TEAM provides household-employment payroll and HR services and financial management for consumer-directed care. I found no named 2025–2026 add-ons.
Amivie (formerly Community Based Care)
Private equity- Owner
- Martis Capital
- Headquarters
- Research Triangle Park, NC
- Scale
- Home and community-based services across six states, with more than 8,100 employees and 18 locations in Ohio (Oct 2025)
The company may be for sale. Axios Pro ran 'Scoop: Martis Capital to sell home care provider Amivie' on Feb 3, 2026. The article is paywalled, and I found no completed sale. Amivie also serves clients with intellectual and developmental disabilities (IDD).
Care Advantage
Private equity- Owner
- Searchlight Capital Partners (majority stake, bought from BelHealth Investment Partners in 2021)
- Headquarters
- Richmond, VA
- Scale
- Over 30 office locations in Virginia, North Carolina, Maryland, Delaware, South Carolina and Washington D.C. (May 2026)
Mertz Taggart's Q2 2026 report still calls it Searchlight Capital Partners-backed.
HouseWorks
Private equity- Owner
- InTandem Capital Partners (since Dec 2022)
- Headquarters
- Woburn, MA
- Scale
- Clients across Maine, New Hampshire, Massachusetts, Connecticut, Rhode Island, Pennsylvania and New York; 12 acquisitions since Dec 2022 (Mar 2026)
The Woburn HQ comes from InTandem's 2022 investment release. Later releases are datelined Boston.
Avid Health at Home
Private equity- Owner
- Havencrest Capital Management
- Headquarters
- Chicago, IL
- Scale
- Illinois, Kentucky, Michigan, North Carolina and Ohio; eight tuck-in acquisitions as of Jul 2026
The Chicago HQ comes from Home Health Care News (Jul 2026), which says Havencrest formed Avid in 2023 by acquiring For Papa's Sake Home Care. Havencrest itself is based in Dallas.
Choice Health at Home
Private equity- Owner
- Coltala Holdings and Trive Capital
- Headquarters
- Tyler, TX
- Scale
- Not disclosed
Choice is mainly a home health and hospice operator, and personal care is one of its service lines. Levin Associates (May 2026) still describes it as backed by Coltala Holdings and Trive Capital.
Altocare (Senior Helpers and MedTec Healthcare)
Private equity- Owner
- Waud Capital Partners
- Headquarters
- Dallas, TX
- Scale
- Senior Helpers: more than 380 franchised and corporate-owned locations in 44 states, Canada and Australia (Mar 2024)
Waud bought Senior Helpers, a franchisor, from Advocate Health. Altocare serves private-pay and Medicaid-supported clients.
Active Day
Private equity- Owner
- Audax Private Equity (since Dec 2015)
- Headquarters
- Trevose, PA
- Scale
- 100 centers across 10 states (Dec 2025)
Active Day is mainly an adult day services operator that is adding non-medical home care. Its Apr 2025 release says only that Goldencare was bought 'earlier this year', with no month given.
Family Resource Home Care
Private equity- Owner
- Great Point Partners (investment partnership since 2020)
- Headquarters
- Liberty Lake, WA
- Scale
- Over 35 locations across Washington, Oregon, Idaho and Colorado (Feb 2025)
The latest source naming the owner is from Feb 2025. A 2026 search found no sale, and the company's site still invites agency owners to sell to it.
PurposeCare
Private equity- Owner
- Lorient Capital (since Dec 2021)
- Headquarters
- Indianapolis, IN
- Scale
- More than 3,000 clients a month (Mar 2026); operations in Illinois, Michigan, Indiana and Ohio
PurposeCare combines skilled home health with home and community-based services. Lorient lists the HQ as Indianapolis, but some 2024 trade coverage calls it Chicago-based. Capstone also lists a Jan 2025 PurposeCare deal for a 'Freedom Home Care' in Michigan, which conflicts with the Mar 2026 release placing Freedom Home Care in Northern Illinois. I used the release.
Dovida
Private equity- Owner
- Ardian (majority stake in Horizon Home Care Group AG; agreement signed Jul 2025)
- Headquarters
- Rheinfelden, Switzerland
- Scale
- U.S.: A Place At Home franchise network, about 55 locations across 27 states (per Mertz Taggart)
Dovida is foreign-owned and formerly traded as Home Instead in Ireland. Ireland's competition regulator cleared the Ardian deal (Business Plus, Aug 2025). Dovida entered the U.S. by buying a franchise network, not company-owned agencies.
Cornerstone Caregiving
Private equity- Owner
- Warburg Pincus
- Headquarters
- Waco, TX
- Scale
- 430+ locations in 40+ states (company site)
This is a new 2026 platform investment, and the size of Warburg's stake was not disclosed. I found no named acquisitions; the coverage I read shows growth through new office openings.
Freedom Senior Services
Private equity- Owner
- Gemspring Capital
- Headquarters
- Louisville, KY
- Scale
- Kentucky, Ohio, Pennsylvania, Indiana and Tennessee; about 3,000 workers serving slightly under 3,000 clients (Jun 2026)
This is a new platform with no add-ons yet. Home Health Care News (Jun 2026) reports that the new CEO aims to make it an 'aggressive' M&A player. It is mainly Medicaid-funded non-medical home care plus adult day centers. Mergr dates the Gemspring deal to Mar 1, 2026, and Levin reported it in Jun 2026.
Elder Care Homecare
Private equity- Owner
- Rallyday Partners
- Headquarters
- Scarsdale, NY
- Scale
- Serves New York, New Jersey, Connecticut and Massachusetts
Rallyday's portfolio page says Elder Care is 'actively evaluating add-on opportunities across the Northeast'. I found no completed add-ons. Elder Care Alliance, an Alameda, CA nonprofit, is a different organization.
Selling in your state?
What home care businesses sell for, who is buying, and how many there are, state by state.
Frequently asked
What multiple will my home care agency sell for?
Scope Research's 2026 data puts small, single-market non-medical personal care agencies at 3x–5x EBITDA, regional operators at 5x–8x and scaled multi-state platforms at 7x–10x. FOCUS Investment Banking publishes the same bands, sourced partly to Scope. Smaller owner-run agencies are usually priced on seller's discretionary earnings (SDE). Home health care businesses sold on BizBuySell in 2021–2025 had a median of 3.00x SDE, with quartiles of 2.22x and 3.63x. That BizBuySell category mixes medical and non-medical agencies.
Who is actively buying home care agencies right now?
Repeat acquirers in 2025–2026 include Help at Home (Centerbridge Partners and The Vistria Group), Addus HomeCare (Nasdaq: ADUS), Amivie (Martis Capital), Care Advantage (Searchlight Capital Partners), HouseWorks (InTandem Capital), Avid Health at Home (Havencrest Capital) and Choice Health at Home (Coltala Holdings and Trive Capital). New PE platforms formed in 2026: General Atlantic bought TEAM Services Group from Alpine Investors, Warburg Pincus invested in Cornerstone Caregiving and Gemspring Capital bought Freedom Senior Services. Franchise brands also changed hands: SYNERGY HomeCare (Levine Leichtman), BrightStar Care (Peak Rock), Always Best Care (NexPhase) and HomeWell (Main Post Partners).
Are home care buyers mostly private equity or strategic companies?
Both. Capstone Partners counted 61 strategic-buyer deals in its 2025 Home Care sector (which includes home health and hospice), a 58.7% share, against 43 private equity deals (11 new platforms and 32 add-ons). Private companies made up 67.2% of strategic volume. Mertz Taggart classes many of those strategic buyers as sponsor-backed, meaning PE-owned platforms such as Care Advantage, HouseWorks and Avid Health at Home buying add-ons.
Is home care M&A activity going up or down?
It rose in 2025: Capstone Partners counted 59 personal home care deals, up 43.9% year over year. In 2026 Mertz Taggart tracked 9 closed non-medical home care transactions in Q1 and 8 in Q2. It described Q1 as slightly below the elevated levels of Q1 and Q2 2025.
Does private pay versus Medicaid change what a buyer will pay?
Yes. Scope Research says regional operators sit at the higher end of the 5x–8x range when their books are mostly private pay with strong recurring hours. It describes Medicaid-heavy agencies as 'active but more rate-sensitive and state-specific.' In its Q4 2025 report, Mertz Taggart noted 'elevated interest in private duty home care from strategic acquirers who are looking to diversify their payer mix.'
What lowers the value of a home care agency?
Scope Research says small-agency multiples hinge on caregiver supply, client retention and the private-pay versus Medicaid mix. FOCUS Investment Banking says premium multiples go to agencies with clean financial reporting, strong compliance programs, diversified payer relationships and stable staffing. Mertz Taggart reported in 2025 that billing and compliance diligence has caused many proposed home-based care deals to fall apart, and it recommends a pre-market billing audit.
Methodology & sources
Compiled in October 2026 from acquirer and sponsor press releases, PE portfolio pages, SEC filings and Addus earnings releases. These were cross-checked against Mertz Taggart's quarterly home-based care M&A reports (Q1 2025, Q2 2025, Q4 2025, Q1 2026, Q2 2026), Capstone Partners' Feb 2026 sector update and its Apr 2025 coverage report, and trade press (Home Health Care News, LevinPro). Each platform's owner was re-checked for a 2025–2026 sale, recap or merger. Each deal location is given only as the target's source states it; where a source gave only a press-release dateline, the location is left blank. Valuation ranges come from Scope Research, FOCUS Investment Banking and BizBuySell. Platform revenue and EBITDA are deliberately excluded.
Multiple sources
- Scope Research, Home Health Valuation Multiples and M&A Trends 2026 (Jun 18, 2026; updated Aug 24) ↗
- FOCUS Investment Banking, Home Health and Hospice EBITDA Multiples 2026 Report (Apr 30, 2026) ↗
- BizBuySell, Home Health Care Business Valuation Benchmarks (sold businesses 2021–2025) ↗
Market sources
- Capstone Partners, Home Care Sector Update (Feb 2026) ↗
- VERTESS, How Much Is Your Home Health Care Business Worth in 2026? (citing IBISWorld) ↗
- Mertz Taggart, Q1 2025 Home-Based Care M&A Report ↗
- Mertz Taggart, Q2 2026 Home-Based Care M&A Report ↗
Last updated October 6, 2026. Platform ownership last verified October 6, 2026. Ownership in this sector changes frequently; figures reflect the most recent public sources available and are not investment, legal, or tax advice.
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