Health-Care Firm Help at Home Is Said to Explore IPO This Year

Help at Home LLC is exploring going public as soon as this year to capitalize on surging demand for home-based care, according to people with knowledge of the matter.

The Chicago-based company has selected banks to help it prepare a listing, said the people, who asked not to be identified discussing information that isn’t yet public. The company’s plans, including the timing of the IPO, could still change.

Centerbridge Partners and Vistria Group bought Help at Home in October from Wellspring Capital, which remained a minority investor, according to a statement at the time. Representatives for Centerbridge and Help at Home didn’t immediately respond to a request for comment. A Vistria spokesman declined to comment.

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Founded in 1975, Help at Home helps provide at-home and community-based care to the elderly and people with disabilities in 13 U.S. states across the South and Midwest. It has about $760 million in debt, according to data compiled by Bloomberg News.

An IPO would come as demand for home care has surged amid the pandemic. Similar companies including Aveanna Healthcare Holdings Inc. and Apria Inc. have listed shares in IPOs in recent months.