Griswold Home Care, a nationwide non-medical home care provider, has announced a recapitalization with Pouschine Cook Capital Management and Stonehenge Partners.
The new investors also made a significant donation to the Griswold Cares Foundation, a separate non-profit organization led by Griswold Home Care employees and franchisees.
“We have a 30-year history advocating for clients, caregivers, and referral sources in our home care community. Along this journey, like-minded individuals and groups have contributed to the growth and success of the organization. It was our intent to select investors that shared our values and vision for Griswold,” notes Graham Weihmiller, President and CEO of Griswold Home Care.
“The combination of our new partners’ personal experiences and prior investments in health care and franchising made them an ideal fit.”
“Together we are excited to accelerate the initiatives important to the ultimate goal of providing outstanding, compassionate home care at an affordable rate,” Weihmiller continues.
“Our new partners’ unsolicited contribution to the Griswold Cares Foundation exemplifies their belief in Griswold’s mission. This donation provides the Foundation with substantial resources to assist with indigent client care, caregiver betterment, and special situations for those in our community.”
In connection with the recapitalization, Tom Monaghan, has been promoted to Chief Operating Officer from Senior Vice President of Franchise Development.
Monaghan comments, “The story of our brand creation and growth is second to none in the home care industry. Jean Griswold’s vision crafted the best home care delivery model and has attracted the strongest owners and staff in the industry. The work of our local owners, professional caregivers we refer, and staff is a tremendous testament to the Griswold family’s legacy.”
Griswold Home Care has realized a significant increase in franchised territories over the last 36 months. The company now serves clients in 226 territories in the US across 31 states, and 22% of all Griswold owners are US Military Veterans. Griswold Home Care was recently awarded top spots in the Philly 100, Inc 500/5000, and Entrepreneur Magazine.
December 3, 2012