Waud Capital Supports Post-ER Veteran with $100 Million Funding for New Home Care Venture

Waud Capital Partners is partnering with former Cornerstone Healthcare Group CEO Steve Yakubkanin. The goal of the partnership is to grow the business in the broader home and post-accident care market.

Waud Capital plans to invest over $100 million of its own capital to support the venture.

“Waud Capital’s approach to partnering with executives, dedicated ecosystem resources, and strong investment experience in relevant areas make the company an attractive partner,” Yakubkanin said in a press release. “I believe this combination will allow us to capitalize on transformational growth opportunities.”

Waud Capital is a medium-sized private equity firm headquartered in Chicago. As an organization, it collaborates with management teams and leaders to build companies. Waud Capital specializes in healthcare services, software and technology, with a total capital investment of $4 billion.

This partnership reflects the company’s strategy to work with industry leaders and position itself in the home care sector.

In the past, Waud Capital has invested in Concierge Home Care, a home healthcare provider that offers skilled nursing, therapy and primary care services.

“The partnership with Steve is yet another example of Waud Capital’s commitment to supporting experienced management talent with a broad ecosystem of resources to deliver transformative growth strategies in large, growing markets,” Chris Graber, partner at Waud Capital, said in a statement. “We see significant opportunities in the broader home care market and look forward to working closely with Steve to support the growth and transformation of yet another differentiated company.”

As for Waud Capital, it was Yakubkanin’s proven track record as a healthcare executive with experience in various sectors that drew him to their partner radars.

As CEO of Cornerstone, Yakubkanin played a key role in the company’s recent sale to ScionHealth, which closed last month. Cornerstone is an operator for home care, long term emergency care, aged care and behavioral health.

Prior to joining Cornerstone, Yakubkanin was the COO of AccentCare. Prior to that, he was Senior Vice President of Kindred Healthcare.

“[Steve] has created value throughout his career and has deep experience in managing and scaling organizations across multiple institutions and post-acc care service offerings,” said Kyle Lattner, director of Waud Capital, in a statement. “Both the volume and range of medical services provided at the patient’s place of residence are growing rapidly. In partnership with Steve, we believe there is an opportunity to create a market-leading organization focused on delivering high-quality care in the most convenient environment for patients, while also lowering the total cost of care for payers.”