InTandem Capital Partners makes equity capital in HouseWorks

InTandem Capital Partners LLC, a private equity firm specializing in healthcare, has completed a strategic equity investment in HouseWorks.

Both organizations declined to disclose financial details, but confirmed that it was a major investment.

“As a growing organization, partnering with InTandem Capital allows the company to accelerate our growth goals by leveraging their deep expertise in the healthcare sector, as well as additional capital resources for the company’s inorganic growth strategy.” Michael Trigilio, CEO of HouseWorks, announced this.

Massachusetts-based HouseWorks is a personal care company that offers home modification services. His BetterCare at Home approach combines personalized care and technology to deliver services.

The company currently has eight offices in Massachusetts, Southern New Hampshire, Southern Maine and the Greater Philadelphia area.

For its part, InTandem has invested in several familiar faces over the years, including Providence Care, Cano Health and Pediatric Health Services.

According to Brad Coppens, the firm’s senior managing director, for InTandem, an investment in HouseWorks was an investment in their team.

“Mike and his team are exceptional,” Coppens told HHCN. “[Personal care] is a deeply fragmented and large sector, so finding an executive team capable of managing a very large enterprise and growing from a single state to a multi-regional platform can be difficult. Mike and his team have this capability in abundance.”

HouseWorks’ assistance model also made the company an attractive investment opportunity, Coppens said.

“It’s not just about delivering great patient care, it’s about delivering that care from a patient, payer, and caregiver perspective by implementing and enabling a significant degree of technological capability,” he said. “Our vision is that the future of personal care and personal care services will be supported by technology. Mike and his team are way ahead of the competition in achieving this goal.”

The new influx of funds will allow HouseWorks to continue investing in technology, but will also accelerate the company’s expansion efforts.

“There is huge opportunity for HouseWorks to expand in the Northeast, both through de novo locations and through our own M&A channel,” Trijilio said. “In doing so, we continue to invest in our workforce – both caregivers and field staff – which has been a key growth driver over the past two years.”

Trigilio also noted that the company was committed to offering its employees development and learning opportunities.

Looking ahead, both organizations are excited about the future of HouseWorks and what it has to offer now that it has access to additional resources.

“HouseWorks has the potential to partner with major home care agencies across the region and provide better ways to do business and provide better patient care,” Coppens said. “Our capital supports Mike’s plan, but also provides him with capital to expand, which can be difficult for him and his team alone.”

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