Beyond traditional personal care services, Waud Capital Partners has assembled a diverse home healthcare portfolio spanning specialized neurological programs to adult day centers. This breadth demonstrates a vision for comprehensive care delivery that addresses multiple patient needs while creating operational synergies and competitive differentiation.
The service expansion approach becomes apparent when examining the Altocare platform’s combined capabilities. Senior Helpers, acquired in March 2024, brings specialized programs for Alzheimer’s and Parkinson’s diseases alongside traditional companionship and personal care services. MedTec Healthcare adds adult day centers offering structured activities, meals, and transportation for seniors who benefit from daytime supervision and socialization. This service diversity positions the platform to serve clients across the care continuum.
Specialized Programs Drive Higher Value
The focus on specialized services demonstrates sophisticated understanding of healthcare economics. Basic companion care faces commoditization pressure and low reimbursement rates. Specialized programs for complex conditions command premium pricing while creating barriers to competition through required expertise and training investments. Senior Helpers’ neurological disease programs exemplify this approach, requiring specialized caregiver training that smaller competitors cannot easily replicate.
Peter Ross, CEO and Co-Founder of Senior Helpers, emphasized growth through service expansion: “The need for high-quality, in-home senior care has never been greater. We see opportunities to enhance our suite of senior services as part of the next phase of the company’s growth.” These enhancements likely include clinical services that blur traditional boundaries between home care and home health.
The adult day services provided by MedTec represent another calculated service extension. These centers serve clients who need supervision and engagement during working hours but can remain at home overnight. For families juggling careers with caregiving responsibilities, adult day programs provide essential respite while keeping loved ones in community settings. The economics prove attractive, with multiple clients served simultaneously in centralized locations.
Cross-Selling and Referral Networks
Service line diversity creates cross-selling opportunities that improve client acquisition efficiency. Families often discover home care needs through initial contact for one service, then expand utilization as needs evolve. A client might begin with transportation to medical appointments, add companionship services, then transition to specialized Alzheimer’s care as disease progresses. This natural progression through service lines increases customer lifetime value while reducing acquisition costs.
Reeve Waud’s experience building multi-service healthcare platforms informs this approach. At Acadia Healthcare, which Reeve Waud founded in 2005, the company expanded from acute psychiatric care to include residential treatment, outpatient programs, and specialty services. This continuum of care approach created referral networks and improved patient outcomes through coordinated treatment. Similar dynamics apply in home-based services, where comprehensive capabilities enable seamless transitions as client needs change.
Steve Jakubcanin, Executive Partner at Waud Capital Partners and Executive Chairman of Altocare, brings operational expertise in service line development: “This acquisition represents a significant step in our vision to create a leading home care platform that delivers best-in-class care.” Best-in-class increasingly means comprehensive rather than narrow service offerings.
Addressing Workforce Through Service Diversity
Service line extensions also address workforce challenges by creating career pathways for caregivers. Rather than performing identical tasks daily, caregivers can develop specialized skills in neurological care, adult day programming, or other areas. This professional development opportunity improves retention while building organizational capabilities. For Reeve Waud, who has completed over 500 acquisitions throughout his career, human capital development remains central to value creation.
The franchise model employed by Senior Helpers adds complexity to service expansion. New programs must be simple enough for franchisees to implement while sophisticated enough to create competitive advantage. Waud Capital’s approach involves piloting new services in company-owned locations before rolling out to franchise partners, reducing implementation risk while maintaining innovation momentum.
Technology-Enabled Service Coordination
Coordinating multiple service lines requires sophisticated technology infrastructure, an area where Waud Capital Partners brings distinctive expertise. Drawing on Reeve Waud’s experience investing $100 million in technology at Acadia Healthcare, the Altocare platform employs integrated systems that track client needs across services, coordinate caregiver schedules, and ensure continuity of care.
Kyle Lattner, Partner at Waud Capital Partners, articulated the expansion vision: “We are excited to partner with Steve, Peter, and the Senior Helpers team to continue providing best-in-class client care and exceptional support to our franchisee partners while also capitalizing on significant opportunities to expand the company’s footprint and services.” Service expansion represents a key component of this growth plan.
Creating Competitive Moats
Comprehensive service capabilities create competitive advantages difficult for new entrants to replicate. While anyone can start a basic companion care agency, building specialized programs with trained staff, quality protocols, and referral relationships requires years of investment. For established platforms like Altocare, service breadth becomes a defensive moat protecting market share while enabling premium pricing.
As Reeve Waud continues developing the Altocare platform, service line extensions will likely accelerate. The aging population presents diverse needs that no single service can address. By building comprehensive capabilities through calculated acquisitions and organic development, Waud Capital Partners positions its portfolio to capture increasing share of the growing home care market. This approach, refined through Reeve Waud’s three decades of healthcare investing, transforms fragmented service providers into integrated care platforms capable of addressing complex patient needs while generating superior returns.
