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Home-based care executives at Home Health Care News’ FUTURE conference described a shift in dealmaking: buyers are looking beyond EBITDA to sustainable growth, clinical quality and management strength. Some are also keeping sellers involved after closing through leadership roles or continuing ownership, though the panel did not quantify how widespread these approaches are.
Home-based care buyers are looking beyond earnings and, in some cases, keeping sellers involved after acquisitions, executives said at Home Health Care News’ FUTURE conference. Panelists described a greater focus on sustainable organic growth, clinical quality and leadership, a shift that can affect both how companies are valued and what happens to their founders after a sale.
EBITDA remains part of valuation, but panelists said it may not show whether a business can keep growing on its own. Dustin Distefano, chief operating officer of franchise operations at A Place At Home, said sellers can strengthen their case by showing organic growth, operational infrastructure and a team able to support expansion. He said a company that has stopped growing may be viewed less favorably, even if its financial results appear strong.
Clinical outcomes and management quality also featured in the discussion. Aveanna Healthcare CEO Jeff Shaner said he would prefer a slower-growing business with stronger quality over faster growth that lacks the same commitment to care. Bill Mixon, an executive partner at private equity firm Waud Capital, said buyers also look for cohesive management teams and a culture suited to the company’s next phase.
Post-sale arrangements are changing, Shaner said: rather than having sellers leave after receiving proceeds, Aveanna seeks to keep some as equity owners and leaders in the acquired operations. A Place At Home offers another example. Following its acquisition by Dovida in February, co-founder Distefano became the company’s COO. The company’s joint-venture approach can also allow franchise owners to retain minority stakes and continue as general managers.
What Buyers Now Value in Care Companies
The panel’s account points to a broader set of questions for owners preparing to sell: whether growth is durable, whether care standards can be maintained as the business expands, and whether leadership can carry the operation forward. Those factors may shape both deal value and deal structure, including whether founders remain responsible for operations or share in future performance.
For buyers, keeping experienced leaders may help preserve relationships, operating knowledge and continuity for staff and clients. For sellers, continued ownership can create a stake in later results, but it also means a transaction may not mark an immediate end to their role. The speakers described these approaches as part of their own dealmaking philosophies; the source does not establish how common they are across the wider home-care market.
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Recent Deals Illustrate Ongoing Roles
The examples discussed at the conference include transactions completed in 2026. Dovida acquired A Place At Home in February, after which co-founder Distefano took on the COO role. A Place At Home provides non-medical in-home care and related services and operates across 22 states, according to the report.
Aveanna closed its $175.5 million acquisition of Family First Homecare in June, adding 27 locations across seven states. Aveanna, based in Atlanta, provides home health care, hospice, private duty nursing and medical services in 39 states. These deals offer examples of the operating models panelists discussed, but do not by themselves establish a market-wide trend.
“If you’re showing organic growth and infrastructure, and that you’re building your team, your value’s going with it.”
— Dustin Distefano, chief operating officer of franchise operations at A Place At Home
How Broad the Shift Remains
The conference report provides no market-wide data on how often buyers now retain sellers, offer equity, or place more weight on clinical quality and organic growth. The discussion reflects views from executives and investors, not a survey of all home-based care transactions.
Details also vary by transaction. The panel account does not set out the terms of the Dovida–A Place At Home deal or specify which sellers Aveanna has made equity owners, what stakes they hold, or how long they remain in leadership. It is also unclear how buyers balance these considerations against price, financing and other deal terms.
What Sellers May Need to Show
For prospective sellers, the panelists’ comments suggest buyers may ask for evidence of durable growth, the systems and staff needed to support it, reliable care outcomes and a capable management team. Post-close responsibilities may also be part of negotiations, including whether founders stay on, take operating roles or retain a financial interest.
No specific new transaction or policy change was announced at the conference, and the speakers did not identify a deadline for further developments. The next indication of how these ideas are being applied will come from individual deals and their publicly disclosed leadership and ownership arrangements.
Key Questions
What did home-care executives say is changing in acquisitions?
Panelists said buyers are looking beyond EBITDA to consider sustainable organic growth, clinical quality and management strength. They also described arrangements in which sellers remain involved after closing.
Does EBITDA still matter to home-based care buyers?
Yes. The speakers did not say earnings are irrelevant; they said EBITDA alone may not show whether a company can sustain growth or maintain care quality.
Do sellers always leave after a home-care acquisition?
No. Aveanna’s CEO said the company seeks to keep some sellers as equity owners and leaders. A Place At Home co-founder Distefano became COO after the company’s acquisition by Dovida. These are examples, not evidence that every buyer follows the same approach.
Which transactions were cited at the conference?
A Place At Home was acquired by Dovida in February 2026. Aveanna closed its $175.5 million purchase of Family First Homecare in June, adding 27 locations across seven states.
Is this a proven industry-wide trend?
The report describes views from a conference panel but provides no market-wide transaction data measuring how common seller retention or these valuation priorities are.
Source: rss
