Case Studies
Caring Brands International
Company Overview
Caring Brands International (“CBI”) is a leading global franchisor of in-home medical and non-medical care services. To form CBI, Halifax initially acquired Interim Healthcare (USA), and subsequently acquired and integrated Bluebird Care (UK) and Just Better Care (Australia). Founded in 1966, Interim was the third largest home healthcare business in the U.S. with more than 300 franchise locations that provided a variety of home health, senior care, hospice, palliative care, pediatric care, and healthcare staffing services. Bluebird Care was one of the largest providers of home care in the United Kingdom with over 200 locations. Australia-based Just Better Care was the largest franchisor of in-home non-medical and medical care services with approximately 30 franchise locations.
Opportunities
- Facilitate a management buyout of Interim Healthcare from their current private equity owner
- Partner with a strong management team to amplify the success of a leading pure-play U.S. healthcare franchisor offering a full continuum of care model with an established brand and national scale
Key ValuFactors Initiatives
- Developed a novel strategy to amplify organic growth and address large international opportunity
- Invested in people and systems to create best-in-class outcomes and compliance
- Stimulated organic growth by increasing new franchise development efforts, ultimately diversifying the franchisee base from 87 domestic ownership groups to over 280 international ownership groups
- Expanded new product lines such as hospice care to cover the entire continuum of care for patients and drive organic growth
- Crafted and executed an international growth strategy, including:
- Develop Caring Brands International brand
- Complete two international acquisitions:
- Bluebird Care Franchises Limited (September 2013)
- Just Better Care (August 2014)
Outcome
Halifax and management grew the original Interim business from a national brand to an international enterprise with over 535 locations serving seven countries at exit. Halifax and management also helped grow revenue by 93%, EBITDA by 84%, and increase system-wide annual sales from $750 million to over $1 billion.
In September 2015, Halifax successfully exited the investment through a sale to management and a financial sponsor. The management team continued to own a meaningful equity position and helped operate and grow the business following the sale.
“Halifax’s experience and understanding of the complex nature of healthcare services and franchising allowed them to provide invaluable strategic guidance. We have been able to execute against a very aggressive growth strategy, re-energize our domestic growth effort and extend our footprint across four countries. Halifax brought a unique approach and skill set that our team greatly appreciated.”