Renovus Capital Partners, a Philadelphia-area private equity firm, has entered a strategic partnership with Aspire Home Health Care, a provider of orthopedic and traditional home health services in the Chicagoland area. No financial terms were disclosed.
Aspire, headquartered in Morton Grove, Illinois, provides skilled nursing and therapy services to patients recovering at home from orthopedic procedures, surgeries and various complex medical conditions. Since its founding in 2013, the company has served more than 80,000 patients across 23 counties in Illinois and Wisconsin. It is led by co-CEOs Michael Simms and Richard Si.
Aspire becomes Renovus's sixth healthcare talent platform. The firm plans to grow Aspire into new communities across the Midwest and invest in technology and AI-enabled tools, including revenue cycle management, to reduce administrative burden and speed up billing and collections.
Renovus manages more than $2.5 billion in assets across several sector-focused funds, with a portfolio of more than 30 US businesses. Brentwood Capital Advisors served as exclusive financial adviser and Baker Hostetler as legal counsel to Aspire. Greenberg Traurig served as legal counsel to Renovus.
Source: PE Hub · Summarized by HeadlinesBriefing