MedTec Healthcare & Private Duty has been sold to Waud Capital

MedTec Healthcare & Private Duty

MedTec Healthcare & Private Duty (MedTec) is a leading provider of high-quality home and community-based services for seniors in the Chicagoland area via both non-medical in-home care services as well as with five adult day centers throughout the city of Chicago and its northwestern and western suburbs. The company has experienced substantial growth in census and scale by intentionally serving the needs of payor referral sources and delivering shorter lead times to getting members into service, flexibility to support family and agency caregivers alike and an incredible client experience with strong caregiver satisfaction.

Founded in Illinois, MedTec Healthcare provides tailored in-home care services designed to help clients maintain their independence. MedTec is recognized for its compassionate approach to caregiving and its commitment to meeting the unique needs of diverse communities serving clients across Illinois. (www.medtechealthcare.com)

About the Transaction

MedTec will join Senior Helpers under the Altocare umbrella, creating a comprehensive home care 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 over 20 years of healthcare operating experience in home care and other post-acute sectors, will serve as Altocare’s Executive Chairman. As a former clinician and experienced executive, he brings a deep understanding of multi-site operations and patient care, and he has successfully scaled organizations through both organic and inorganic strategies.

With over 100 transactions completed in the home and community-based sector, including 25 just since 2020, Lincoln remains one of the most active investment banking advisors across all sectors of home-based care delivery, including hospice, home health, home medical supply, home infusion and home care.

Our Perspective

“Seniors, as well as their loved ones, want and deserve an option to receive high-quality, long-term support services in their homes and communities whenever medically appropriate to both improve quality of life and cut costs to the system compared to institutional alternatives. MedTec combines compliant, best-in-class care quality with a tech-enabled approach to matching referrals and caregivers quickly and effectively,” said Barry Freeman, Lincoln International Managing Director who led the transaction.

Waud Capital Partners

Based in Chicago, Waud Capital Partners is a growth-oriented private equity firm with over 30 years of investing experience. Waud Capital seeks to partner with experienced management teams to build market-leading companies within two industries: healthcare and software & technology. Since its founding in 1993, Waud Capital has successfully completed more than 480 investments, including platform companies and follow-on opportunities.

Share: