Two of Washington State’s Largest Home Care Agencies Announce Merger

Combined Entity Will Operate as Family Resource
Home Care, Scale in Ways That Align with Explosive Growth of Senior
Population Over Next 30 Years

LIBERTY LAKE, Wash.–(BUSINESS WIRE)–Two of Washington state’s largest and most-established home care
agencies, Seattle-based Family Resource Home Care and Spokane-based
Family Home Care, today announced completion of a merger that will make
the combined entity one of the largest home care providers in the
nation. The new combined entity will retain the Family Resource Home
Care name.

“There is a rapidly-growing number of older adults in the United States
and 90 percent of them want to live at home for as long as they can,”
said Family Resource Home Care CEO Jeff Wiberg. “This merger provides us
with the collective resources to help a larger number of people realize
that goal and to scale in ways that meet the industry’s growing demand
for quality home care.”

According to recent census reports, there are currently more than 42
million Americans age 65 or older – a number that is expected to double
by 2050. Among this population are nine million individuals who are 85
years of age and older; a number that is expected to nearly triple over
the same period.

The merger will create a company of more than 750 employees in eight
offices across Washington and Idaho and, collectively, serve more than
1,000 clients and their families. Both companies will also merge common
functions including management, branding, sales and marketing,
accounting and finance, human resources, and training programs.

The merger brings a combined 70 years of experience to the new entity as
Family Resource Home Care was founded in 1996 and Family Home Care was
founded in 1966.

The company provides home care services that include, but are not
limited to: personal care such as bathing, dressing and help with
medications; meal planning and preparation; light housekeeping; and
companion care. The company also provides care for clients facing
dementia and/or Alzheimer’s Disease as well as end-of-life, transitional
and respite care.

The completed merger comes on the heels of Medicare’s decision to allow
Medicare Advantage Plans to begin reimbursing members for costs related
to home care.

“To date, our industry has been limited to private-pay clients,” said
Wiberg. “As reimbursements become available, we can extend our services
to an even wider audience that may have previously been unable to afford
home care as an out-of-pocket expense.”

Home care can also help to reduce the need for unnecessary and expensive
doctor appointments and hospital visits. It is estimated that, in 2008
alone, Americans saved more than $25 billion in health care costs by
accessing home care.

“Home care also provides huge benefits for family caregivers – many of
whom are trying to juggle jobs and families while, at the same time,
taking care of mom and dad.”

The combined resources will also enable the company to expand into new
states including Oregon, Utah, Colorado, Arizona, New Mexico, and Nevada.

“Over the next five years, we plan to grow and expand our business
through strategic acquisitions of existing home care businesses that
align with our business model and values,” said Wiberg. “Along the way,
we will also be creating jobs within each new market and seeking the
best talent that enables us to provide the highest quality of care.”

The merger will also enable the company to launch new and innovative
approaches to care including tools for families to customize and track
the care of their loved ones using technology-assisted home care – an
important feature as Baby Boomers are, on average, living more than 280
miles from their parents who are aged 65 and older.

Family Resource Home Care is the largest independent provider of home
care services based in the Pacific Northwest and one of the largest in
the United States. The company is focused on empowering clients to
continue living at home by providing them with home care services that
address their unique challenges. The company has offices in Liberty
Lake, Seattle, Tacoma, Bellevue, Spokane and Kennewick in Washington
state and Boise and Moscow in Idaho. More information on the company and
its services can be viewed online at www.familyresourcehomecare.com.

Contacts

For Family Resource Home Care
Dan Branley, 206-914-1231
dbranley@launchcmus.com

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