CHICAGO—Waud Capital Partners (Waud Capital), a growth-oriented middle-market private equity firm, announced the acquisition of MedTec Healthcare (MedTec), a provider of in-home care and adult day services. This acquisition represents a milestone in Waud Capital's strategy to build a market-leading platform in home-based care services through its newly formed holding company, Altocare.
MedTec will join Senior Helpers under the Altocare umbrella, creating a comprehensive homecare platform that focuses on serving private-pay and Medicaid-supported clients. As part of the acquisition, MedTec Healthcare and Senior Helpers will continue to operate under their existing brands and leadership.
Steve Jakubcanin, an executive partner at Waud Capital with more than 20 years of health care operating experience in homecare and other post-acute sectors, will serve as Altocare's executive chairman. As a former clinician and experienced executive, he brings an understanding of multi-site operations and patient care, and he has scaled organizations through both organic and inorganic strategies.
"This acquisition represents a significant step in our vision to create a leading home care platform that delivers best-in-class care," said Jakubcanin. "MedTec Healthcare's dedication to quality and its strong market presence align perfectly with our mission. We look forward to working together to enhance homecare services and improve outcomes for the clients and families we serve."
"This marks an exciting new chapter for MedTec Healthcare," said Shihwan Chung, CEO of MedTec Healthcare. "Joining forces with Altocare and Waud Capital Partners presents a tremendous opportunity to expand our impact and elevate the quality of care we deliver to our clients and their families. With shared values and a commitment to innovation, we look forward to building a stronger future together and continuing to serve our communities with excellence and compassion."