The Buyout Show with Fexingo · 2026-07-08 · 11 min
Episode 100 of The Buyout Show explores the wave of private equity acquisitions sweeping the home care industry. Lucas and Luna break down why PE firms are targeting agencies that provide in-home health aides, personal care, and dementia support. Using the example of a mid-sized regional agency acquired by a search fund backed by a family office, they discuss the operational playbook: centralizing scheduling software, standardizing caregiver training, and layering on private-pay services like companion care. They also examine the tensions - higher caregiver turnover under cost pressure, regulatory risk from state Medicaid reimbursement changes, and the cultural friction between PE efficiency and caregiving relationships. Specific numbers include the 7.5% annual industry growth rate, average EBITDA multiples of 8 to 10 times, and how a roll-up of 15 agencies can cut back-office costs by 30 percent. The episode closes with the question of whether the model can deliver quality outcomes at scale.
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