Alignment Healthcare raises $ 135 million; FirstLight expands internationally

Alignment Receives $ 135 Million in Series C

Start of Medicare Advantage (MA) Alignment Healthcare has deepened its pockets.

The Orange, California-based MA player announced on March 4 that he had raised $ 135 million in Series C funding, led by Fidelity Management & Research Company. Additional funding came from funds and accounts advised by T. Rowe Price Associates Inc. and Durable Capital Partners LP.

The Series C cycle brings the total to date to $ 375 million.

Caring for Canada's seniors has been Alignments' mission since our foundation seven years ago, when we launched a new model designed to reduce waste in the system by coordinating quality care around the patient, little no matter where they are, John Kao, founder and CEO of Alignment. Health said in a statement. The growth we have seen since is a testament to the impact our model has on improving outcomes for seniors every day, and we look forward to continuing to advance and transform the health care experience.

Alignment is one of many MA companies that have prioritized the delivery of home health care, as well as the social determinants of health.

For the year of the 2020 plan, for example, alignment plans began to offer options for monthly grocery allowances, transportation services and access to the society of grandchildren at Papa's request. Alignment has also publicly touted its relationship with primary home care provider Heal.

In many cases, you can go home and see things like food security, whether it's depression, someone who lives alone or doesn't have access transportation, Alignment Consumer President Dawn Maroney previously told Home Health Care News. Ensuring that the elderly receive the care they need is not limited to the care themselves. It is about taking care of their well-being and that person as a person.

The alignment of new funding comes as the Medicare Advantage market continues to grow, almost doubling the number of registrations in the past decade. Meanwhile, Alignment Healthcares' annual revenue increased 43% between 2014 and 2019, with the company now approaching $ 1 billion in 2020 revenue.

FirstLight expands footprint in North America

The Cincinnati home care franchise company FirstLight Home Care is growing.

FirstLight announced plans to expand its non-medical home care services in Canada earlier this month. Sam Riad, CEO of Comfort of Senior Living, has signed on as a main franchise, with plans to operate as FirstLight Home Care of Canada.

Riad currently operates 10 Comfort of Senior Living retirement communities in the province of Ontario.

"We are delighted to bring our FirstLight brand to Canada," said Jeff Bevis, CEO and co-founder of FirstLight Home Care, in a statement. "International expansion has always been part of our strategy.

FirstLight Home Care of Canada plans to open six locations immediately in Ontario, with plans to establish 150 additional locations through expansion and franchise opportunities across the country.

FirstLight has more than 220 locations in total. Its system-wide revenues in 2019 totaled just under $ 180 million last year, Bevis previously told HHCN.

Addus moves its headquarters

Addisco HomeCare Corporation (Nasdaq: ADUS) based in Frisco, Texas is moving its headquarters.

Addus is primarily a personal care service provider, although it has expanded to both home health and palliative care in recent years. To cope with its growth, the company is moving its residence camp to a new space that is approximately double the size of its current office, The Dallas Morning News reported on March 3.

As the leading provider of home care, home care and palliative care services, Addus needs an office that matches our rapid growth, said Dirk Allison, President and CEO of 39; Addus, at the press room. The (new space) will allow us to continue our growth in all of our markets.

In addition, Addus plans to increase its headquarters staff to almost 200 people over the next five years, according to The Dallas Morning News.

Addus currently provides home care services to approximately 42,000 consumers in 184 locations in 26 states.