Home Health Care News – More Home Care Agencies May Become Employee-Owned as Aging Owners Exit

From Home Health Care News:

Home care agencies continue to grow in number as the population of older adults increases. However, as home care owners decide to retire themselves, they are sometimes permanently shutting down their operations, leaving a gap in the local economy and forcing workers who are happy in their roles to seek different employment. There may be an interesting solution — converting to a co-op model.

Some industry advocates believe an employee-owned model is the perfect business opportunity to keep home care companies open and solve several industry issues, according to a recent report, “Co-op Conversions at Scale,” from Capital Impact Partners, Citi Community Development and the ICA Group. The assessment focused on several industries and regions that could be ideal for expanding worker co-op conversions, singling out home care as a sector ripe for the business model.

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