Independent Living Systems, LLC, a long-term care, care management, post discharge, and nutrition services provider to the elderly and dual eligible populations, announced on Jan. 4 that it has completed a strategic recapitalization, with new investors including Oak Investment Partners, a healthcare and information technology investor, and healthcare private equity investment firm Mansa Capital.
“ILS fulfills a major unmet need in the marketplace, providing cost-effective care management and long-term care solutions for the growing elderly population,” said Ann Lamont, managing partner at Oak Investment Partners, in a statement. “We are pleased to make this strategic investment in ILS that will enable it to strengthen its product offerings and expand its national footprint.”
With healthcare costs for the elderly continuing to rise, many states are looking at new service delivery systems and payment models, and are considering long-term home care as cost-effective alternatives to nursing home care, says ILS.
“Medicaid reforms that include capitating managed care organizations (MCOs) for long-term care and integrating Medicare and Medicaid benefits within a single plan are being implemented rapidly throughout the United States,” said Ruben J. King-Shaw, Jr., managing partner and chief investment officer at Mansa Capital. “This will require MCOs to develop systems and expertise in managing special needs populations, as well as providing services that they had not previously managed. ILS provides an outsourced solution for many of these plans and brings its more than 15 years of experience in managed long-term care to the table.”
The senior care service provider uses care analytics and logistics software along with nutritionists, nurses, caregivers, and other health professions to coordinate care between health plans, hospitals, physicians, and patients.
Written by Alyssa Gerace