Millbrook HomeCare Partners, a $1 million home care agency based in Hellertown, was sold this month.
Terry Weber of Emmaus, who has more than 30 years experience in the home care industry including Country Meadows in Forks and Griswold Special Care, bought the agency for an undisclosed price.
Millbrook realized enormous growth several years after owners Anne Miller and Cheryl Brooks founded it. The company provides nonmedical home care services in the Lehigh Valley.
Jeffrey Tintle, owner of Thrive LLC, which provides consulting in the home care industry in eastern Pennsylvania, helped facilitate the deal.
“There was a lot of interest from all corners of senior care to buy the company, from nonprofits to corporations, private equity and even competing franchises,” Tintle said.
Miller and Brooks wanted a buyer who would keep the company independently owned and operated.
As the region’s baby boomers age, demand for elder care services has increased. Today, there are more than 80 nonmedical home care agencies operating in the Lehigh Valley.
The number of agencies in the local market has grown 10 percent, and the hourly cost for service has increased $2.50 per hour to an average cost of $21.89 since Thrive started tracking the local home care industry four years ago.
The average number of clients per agency and average weekly billable hours per client have also increased.
“Terry will do a great job leading Millbrook toward future growth,” Tintle said.
“The same demographics that helped Anne and Cheryl start their business will carry Terry into the future.”
Tintle said he expects new players to enter the market and more mergers and acquisitions in 2018.