Wellspring Capital Management Acquires Caring Brands International

SUNRISE, Fla., Oct. 25, 2021 /PRNewswire/ -- Wellspring Capital Management ("Wellspring"), a leading private equity firm headquartered in New York, announced today that it has partnered with management to complete the acquisition of Caring Brands International, Inc. ("CBI" or the "Company"). Terms of the transaction were not disclosed.

Tracing its heritage back to 1966, CBI is the leading franchisor of home healthcare services under three global brands: Interim HealthCare Inc. (in the United States), Bluebird Care (in the United Kingdom and the Republic of Ireland) and Just Better Care (in Australia). Together, the CBI brands represent 550 locations operated by more than 250 franchise owners and operators that produce over $1.3 billion of system wide sales annually. The Company's franchisees and operators are uniquely positioned in their respective markets to offer the full continuum of healthcare at home including skilled nursing, home health, assistance with daily living activities and end-of-life hospice care along with healthcare staffing. CBI is headquartered in Sunrise, FL.

"We are deeply appreciative of the overwhelming and continued excitement for investing in the home healthcare space. Over the past year and throughout 2021, delivery and access to high-quality home-based healthcare services has never been more essential, and it is rewarding to see such a positive market reaction," said Jennifer Sheets, president and CEO of Caring Brands International and Interim HealthCare Inc. "As the home care industry leader, we at CBI are fully committed to making the home the center of healthcare and helping more people gain the quality services they need. As the newest addition to the Wellspring family, we feel fortunate to partner with an organization that is rooted in the healthcare industry and recognizes the value home-based healthcare provides."

CBI is the twelfth investment from Wellspring Capital Partners Fund V, L.P., a $1.45 billion vehicle raised in January 2018.

Regarding the acquisition, Naishadh Lalwani, a Partner at Wellspring, offered:

"We have been strong advocates of high-quality home-based care providers that enable seniors, individuals with medically complex care needs, and others with disabilities to live independently in their homes. CBI and their franchisees and operators have developed a stellar reputation of empowering individuals to live life on their own terms and we are excited to partner with Jennifer and team to continue to grow that mission."