Advocate Aurora’s New Investment Arm Focuses on Whole-Person Health
A newly launched subsidiary of Advocate Aurora Health, one of the largest U.S. health systems, has made two investments.
Nonprofit Advocate Aurora Health, with dual headquarters in Milwaukee and Downers Grove, Ill., has 26 hospitals and more than 500 sites of care. It describes its new Advocate Aurora Enterprises as responsible for advancing the system’s purpose of helping people live well through a commitment to whole-person health. Its three focus areas are aging independently, parenthood and personal performance.
Its first investment is in telenutrition platform Foodsmart. Advocate Aurora Enterprises led a series C funding round of more than $25 million.
Foodsmart supports more than 1.25 million members from over 650 employers plus regional and national health plans. To help overcome growing food insecurity and inequity, Foodsmart helps families leverage price comparison, discounts, healthy food directed spend and newly online accessible SNAP benefits with partners such as Walmart, Amazon and local grocers through Instacart. Foodscripts are also issued on the platform to enhance disease management, leveraging subsidies of clinically validated diets and care coordination to help users affordably and sustainably overcome obesity, hyperglycemia, hyperlipidemia, hypertension and chronic diseases that increase the risk of COVID-19 mortality.
“You’re going to see us continue to invest in health-related businesses designed to make us a destination health company, not just providing hospital, doctor and home care services but where people can look to us for all their health care needs,” said Advocate Aurora Health President and CEO Jim Skogsbergh, in a statement. “Healthy habits are built in people’s homes and, increasingly, on their phones. Our investment in Foodsmart reflects this whole-person health approach by enabling people to take greater control of their wellness on their own terms.”
In addition, Advocate Aurora Enterprises announced its acquisition of Senior Helpers, a national leader in home care and wellness offerings for seniors.
The Maryland-based Senior Helpers has more than 320 franchised and corporate-owned locations in 44 states, Canada and Australia that provide home care services and wellness services for seniors, including meal planning, grocery shopping, medication reminders, transportation, companionship, assistance with personal hygiene and more. It also offers programs for chronic neurological disease, particularly Alzheimer’s and Parkinson’s diseases. Its services enhance seniors’ ability to remain in their homes and avoid or delay the need for nursing homes.
“The need for high-quality, in-home senior care has never been greater. We see all sorts of opportunities to enhance our suite of senior services as part of Advocate Aurora Enterprises’ portfolio, because we share many of the same core values,” Senior Helpers CEO Peter Ross said, in a statement. “Given Advocate Aurora’s scale and their experience as a premier health care provider, which aligns with the work our franchisees are already doing, we’ll be better positioned to expand best-in-class care and wellness services for seniors.”
That acquisition may be part of a larger trend. In late February, HCA Healthcare announced it had entered into an agreement to acquire a majority stake in Brookdale Senior Living’s home health and hospice business. As a recent article in Home Health Care News points out, “throughout the pandemic, institutional- and facility-based settings have become less desirable for patients given the risk of exposure to COVID-19. In order to continue to serve as many patients as possible, larger health systems may begin partnering with home-based care providers to meet patients outside their four walls.”
