24 Hour Home Care, a non-medical in-home care provider, announced the acquisition of Bright Moon Care Services, a home care agency that specializes in high-quality personal care for seniors. The deal was made effective February 28th, 2022.
The move to acquire Bright Moon Care Services reflects expansion opportunities for 24 Hour Home Care within Ventura County and underscored the value of Bright Moon Care Services’ uniquely strong community ties. 24 Hour Home Care plans to continue to create similar opportunities as a part of its vision to become one of the largest home care providers in the nation. The deal was made effective February 28th, 2022.
24 Hour Home Care is an industry-leading provider of non-medical home care to seniors and persons with intellectual and developmental disabilities. 24 Hour Home Care started in 2008 in Los Angeles and has since expanded across California, Arizona and Texas. 24 Hour Home Care was acquired by TEAM Services Group, a portfolio company of private equity firm Alpine Investors, in October 2021.
“Joining the 24 Hour Home Care brand was a synergistic fit and simply made sense,” said Vineet Dua, founder of Bright Moon Care Services.
“This is a great opportunity to impact more lives by combining a shared purpose and bringing a forward-thinking agency under the 24 Hour Home Care brand,” said Ryan Iwamoto, President and Co-founder of 24 Hour Home Care. “Acquiring Bright Moon Care Services bolsters our core offering, strengthens our key community relationships, and further defines our footprint in Ventura County.”
According to the LevinPro HC database, this acquisition marks the 21st transaction in the Home Health & Hospice (HH&H) sector this year. During 2021, there were a whopping 116 deals announced within the HH&H sector. Considering the breakneck pace we’ve already seen during the first few months of 2022, we expect deal activity to remain strong through the rest of the year.
