KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--InHome Therapy, the first Home Therapy as a Service (HTaaS) solution in the home health market, recently announced the close of a new $22 million financing round. The round was led by TT Capital Partners with participation from existing investor NewSpring. InHome Therapy will leverage the financing to expand its geographic reach, fund strategic acquisitions and continue technology development.
InHome Therapy provides physical, occupational and speech therapy services for home health provider agencies nationally. With an aging population and a shortage of qualified therapists, the company has experienced a period of rapid growth along with a sharp increase in demand for its services.
“The demand for in-home therapy has risen dramatically in recent years, and meeting that demand has been a challenge for many home health agencies,” said Donnacha O’Sullivan, Principal at TT Capital Partners. “As the first HTaaS solution on the market, InHome Therapy is uniquely positioned to address the growing need, supporting agencies nationwide by providing talented therapists to serve their patients. We are delighted to partner with InHome Therapy as it builds a new and better era of in-home therapy.”
“We see tremendous potential for this business and are thrilled to enter our second partnership with TT Capital Partners,” added Kapila Ratnam, Ph.D., NewSpring General Partner. “Their deep knowledge of healthcare and their investing and operational expertise will be valuable as InHome Therapy continues to grow and expand its innovative business model nationwide.”
Year to date, InHome Therapy has completed five acquisitions and expanded its geographic footprint, launching operations in Orlando and Houston, where they’ve established contracts with more than 40 new home health agencies, including leading national brands. The company has also scaled its operations significantly—with a triple-digit increase in its therapist network and business staff.
InHome Therapy seeks to be the “employer of choice” for the best home health therapists and has built a full suite of proprietary processes to meet the needs of therapists at every stage of their career. The company also provides the education, flexibility, culture and tools therapists require to thrive in their careers.
“At InHome Therapy, we know that delivering optimal care to patients starts with taking tremendous care of our therapists. We’ve built a therapist-first organization designed to find and nurture the best therapists in the industry and empower them to deliver the highest quality of care for patients in the setting they prefer,” said Matt Murphy, CEO of InHome Therapy. “We are excited to welcome TT Capital Partners as our investor and partner as we enter this next stage of growth and expand to provide better care and improved outcomes to an even wider community.”
About InHome Therapy
InHome Therapy, the nation’s first Home Therapy as a Service (HTaaS) solution, leverages unmatched systems, processes, and tools to unlock a new approach for delivering sustainable and measurable results to home therapy patient care, ensuring that patients, therapists, and agencies rise together. Today InHome Therapy employs hundreds of therapists and has completed over 2 million patient visits in key locations across the country. For more information, visit http://www.inhometherapy.com.
InHome Therapy is actively recruiting new therapists; for more information, including a list of open positions, visit https://www.inhometherapy.com/careers/. The company is also pursuing additional acquisition opportunities; to learn more, contact Rick Anglin at ranglin@inhometherapy.com.
About TT Capital Partners
TT Capital Partners (TTCP) is a value-add healthcare investor that provides capital, expertise and insight to healthcare technology and services companies that have the potential to become market leaders. With its exclusive focus on healthcare, extensive industry network, and deep investing and operating experience, TTCP has invested in some of the most high-growth businesses that are innovating and disrupting how healthcare is delivered, managed and consumed. Learn more at www.TTCapitalPartners.com.
