IMC Bets On Healthcare With Right at Home Stake
A Right at Home caregiver assisting a client.
RiseMark Brands, the parent company of Right at Home and IKOR, has a fresh infusion of capital now that Investors Management Corp. has invested in the Omaha-based senior care franchisor.
It is the first time Allen Hager, founder and executive chairman of RiseMark, has sought outside investment, and he and President and CEO Brian Petranick will remain in their current roles.
Plenty of parties were interested, said Burt Yarkin, managing director of The McLean Group, the investment banker on the deal. “Let’s just say it was a really competitive process with a great outcome,” Yarkin says, adding about Hager, “he had a lot of choices, and IMC with their experience and resources was a natural selection.”
The category as a whole is seeing heightened investor interest, with something of a gold rush emerging. “Investors are interested in franchised healthcare businesses,” Yarkin says, including those that hadn’t invested there before. IMC owns restaurant franchisor Golden Corral and sports retailer Fleet Feet Sports. This is its first healthcare brand.
“There’s so much waste in the healthcare system, that if these franchises are attacking these issues and providing services, I think we would have a significant amount of investors interested,” Yarkin says.