Doris 
When Reeve Waud announced the formation of Altocare in April 2025, healthcare industry observers recognized a familiar pattern. The Waud Capital Partners founder has spent over three decades perfecting a consolidation approach that transforms fragmented healthcare sectors into scaled, profitable enterprises.
MedTec Healthcare’s acquisition by Altocare, which also houses Senior Helpers, showcases Waud’s latest application of a proven methodology that previously built Acadia Healthcare into a behavioral health giant and GI Alliance into a platform valued at approximately $2.2 billion.
The Platform Philosophy: Identifying Fragmentation Opportunities
Reeve Waud’s investment thesis centers on healthcare markets characterized by thousands of independent operators serving essential needs. Home care fits this profile, with numerous agencies providing services to an aging population increasingly seeking care at home rather than institutional settings.
Waud Capital Partners has systematically applied this fragmentation analysis across multiple healthcare sectors. Acadia Healthcare consolidated behavioral health facilities, GI Alliance unified gastroenterology practices, and now Altocare targets home-based care providers. Each platform addressed similar market conditions: essential services, regulatory complexity, and operational challenges that favor scaled operators over independent providers.
Executive Talent Recruitment: The Jakubcanin Appointment
Steve Jakubcanin’s selection as Altocare Executive Chairman exemplifies Waud’s management-first investment philosophy. With over 20 years of healthcare operating experience in home care and other post-acute sectors, Jakubcanin brings both clinical expertise and proven scaling capability to the platform.
Jakubcanin’s background as a former clinician and experienced executive provides deep understanding of multi-site operations and patient care requirements. His track record of scaling organizations through both organic growth and acquisitions aligns with Altocare’s expansion plans. This management recruitment approach has proven successful across Waud’s healthcare investments, from Acadia Healthcare’s leadership team to GI Alliance’s physician executives.
Geographic and Service Expansion: Complementary Assets
MedTec Healthcare’s Illinois market presence complements Senior Helpers’ national footprint of over 380 franchised and corporate-owned locations across 44 states, Canada, and Australia. MedTec’s specialized focus on culturally and linguistically tailored in-home care services fills gaps in Senior Helpers’ service portfolio.
The combination creates immediate operational synergies while maintaining distinct brand identities. MedTec’s adult day centers offering transportation, meals, and activities for seniors expand Altocare’s care continuum beyond traditional home visits. Both companies continue operating under existing brands and leadership structures, preserving local market recognition while accessing shared resources and expertise.
Payer Mix Diversification: Balancing Risk and Opportunity
Altocare’s focus on serving both private-pay and Medicaid-supported clients reflects lessons learned from Waud’s previous healthcare platforms. This diversified payer approach reduces regulatory risk while maximizing market opportunity across different economic conditions.
Acadia Healthcare’s balanced payer mix of 57% Medicaid, 26% commercial insurance, 14% Medicare, and 3% self-pay demonstrated the stability of diversified revenue streams. Altocare applies this same principle to home care, positioning the platform to benefit from demographic trends while maintaining financial resilience during policy changes or economic downturns.
Altocare’s balanced approach reflects lessons learned from Waud’s previous healthcare platforms, positioning for sustained growth across economic cycles. The platform’s combination of complementary service lines, experienced leadership, and diversified payer mix creates multiple value creation pathways while mitigating sector-specific risks that could impact single-service providers.
