Waud Capital Partners’ recent purchase of MedTec Healthcare marks a significant expansion of their healthcare portfolio through their newly formed Altocare platform. This strategic move reflects founder Reeve Waud’s longstanding practice of identifying promising sectors within healthcare services.
The Chicago-based private equity firm, which Reeve B. Waud founded in 1993, has completed more than 480 investments, targeting companies primed for substantial growth. Their approach centers on partnering with experienced leadership teams while providing financial resources and expertise to accelerate development. This philosophy stems directly from the investment strategy that has guided Waud Capital Partners for three decades.
According to the press release, Steve Jakubcanin will serve as Altocare’s Executive Chairman. MedTec brings culturally and linguistically tailored home care services to the Altocare platform, complementing Waud Capital’s existing investment in Senior Helpers.
The deal showcases how the firm’s Managing Partner approaches platform-building in healthcare. MedTec and Senior Helpers will maintain their distinct brands while operating under the Altocare umbrella – a structure that preserves established client relationships while enabling operational improvements.
The press release indicates that as part of the acquisition, MedTec Healthcare and Senior Helpers will continue to operate under their existing brands and leadership. This arrangement demonstrates classic Waud Capital methodology – identifying a fragmented industry with growing demand and consolidating providers to achieve scale.
The acquisition demonstrates typical Reeve Waud methodology – identifying a fragmented industry with growing demand and consolidating providers to achieve scale. Home healthcare fits this model perfectly, with aging demographics driving sustained need for these services.
The founder of WCP pioneered this approach with Acadia Healthcare, which he established in 2005. Under his guidance, Acadia grew into a nationwide network of behavioral health facilities that eventually went public in 2011. Waud’s experience with Acadia has clearly shaped his firm’s healthcare investment strategy, including this latest Altocare expansion.
The cultural competence element of MedTec’s business model likely factored heavily into the private equity firm’s acquisition decision. As communities become increasingly diverse, healthcare providers offering multilingual and culturally sensitive services stand to capture growing market segments.
Through Altocare, Waud Capital aims to construct a comprehensive home care platform serving both private-pay and Medicaid-supported clients. This balanced revenue approach reduces regulatory risk while maximizing market opportunity – a characteristic feature of the firm’s healthcare investments.
For industry observers, this acquisition confirms Reeve Waud and his team’s continued commitment to healthcare services as a core investment thesis. With Altocare now established as their home care consolidation vehicle, further acquisitions seem likely as they pursue their distinctive buy-and-build strategy in this promising healthcare segment.
