Sevita — a provider of community-based specialized health care —announced the acquisition of Good Neighbor, a Richmond, Virginia-based provider of services for people with intellectual and developmental disabilities.
According to a news release, the acquisition reaffirms Sevita’s “renewed focus” to provide access to whole person care and in turn expands its “Community Support Services” operating group to Virginia.
William McKinney, CEO of Sevita, said in the news release that Good Neighbor and their programs will be an asset to Sevita moving forward.
“Good Neighbor has built a strong reputation in Virginia for providing high-quality care for people with I/DD and their families,” McKinney said. “Their team’s commitment to providing greater independence and community engagement to the individuals served will be an asset to Sevita as we continue to expand our continuum of services across the state.”
Good Neighbor was founded in 2005 and has served more than 10,000 individuals since its beginning.
The company emphasizes opportunity, independence and growth while specializing in community-based care for people with IDD.
“IDD” is the term used to describe situations in which people suffer from intellectual and developmental disabilities such as autism, behavior disorders, brain injury, cerebral palsy, Down syndrome, fetal alcohol syndrome, intellectual disability and spina bifida.
According to IBIS World, the market size of the Residential Intellectual Disability Facilities industry in the U.S. has grown 2.6% per year on average between 2016 and 2021, making it clear that more and more people are seeking out the help they need to live healthier and more secure lives with these disabilities.
Measured by revenue, the industry is estimated to be worth nearly $33 billion.
Good Neighbors company includes residential and day services and with the newest acquisition, Sevita will serve an additional 270 people across 55 locations.
Sevita employs 40,000 team members in 40 states and serves upwards of 50,000 individuals and is a portfolio company of Centerbridge Partners. The company serves both children and adults with intellectual and developmental disabilities, individuals with complex care needs, people recovering from brain and spinal cord injury, seniors in need of daily support, children in foster care, patients struggling with autism and much more.
Matt Marek, founder and CEO of Good Neighbor, said his company takes a “person-first approach” to its work.
“Sevita and Good Neighbor share a common mission to ensure Virginians have access to individualized, whole person care in their local communities,” Marek said in the news release
“Our teams have a passion for helping others grow, learn, and live their best life,” McKinney said. “Both companies believe every person has the right to live well.”
Additionally, the company announced Tuesday the acquisition of Caring R Us, a provider of residential services in Massachusetts as well as the Cameron Group and JEM Homecare Solutions. With the acquisitions, Sevita welcomes 140 employees, 250 Host Home providers, and 300 individuals in their care.
Written by Patrick Filbin