Waud Capital Partners Forms New Partnership with Healthcare Executive Steve Jakubcanin
February 06, 2023
February 06, 2023
Waud Capital teams with proven industry executive to acquire and build a leading provider of home care and related post-acute services
CHICAGO, February 6, 2023 – Waud Capital Partners (Waud Capital), a leading growth-oriented, middle-market private equity firm, announced today that it has formed an executive partnership with Steve Jakubcanin to pursue a platform investment in the broader home care and post-acute services market. Waud Capital anticipates investing over $100 million of equity capital to support the initiative.
Mr. Jakubcanin is a proven healthcare executive with more than 20 years of healthcare operating experience across multiple sectors including home care, acute, post-acute, and behavioral healthcare services. As a former clinician and experienced executive, he brings a deep understanding of multi-site operations, patient care, and coordination across the care continuum. He has successfully scaled organizations through both organic and inorganic strategies, including consistent growth and value creation for shareholders across multiple leadership roles.
Most recently, Mr. Jakubcanin served as Chief Executive Officer of Cornerstone Healthcare Group, guiding the company through its recent sale to ScionHealth. Cornerstone is one of the leading operators of long-term acute care, senior living, and behavioral healthcare facilities. Under Mr. Jakubcanin’s leadership, the company experienced transformative growth, expanding their service offerings from long-term acute care into skilled nursing, assisted living, behavioral healthcare, and rehabilitation services. Prior to Cornerstone, Mr. Jakubcanin held senior leadership roles at AccentCare and Kindred Healthcare, two nationally recognized providers of home care and post-acute care services.
“We are thrilled to announce our partnership with Steve,” said Kyle Lattner, Principal of Waud Capital. “He has created value throughout his career and brings deep experience operating and scaling organizations across a variety of post-acute care settings and service offerings. Both the volume and scope of healthcare services being provided in a patient’s place of residence are growing rapidly. In partnership with Steve, we believe there is an opportunity to build a market leading organization focused on delivering high quality care, in the most convenient setting for patients, while also lowering the total cost of care for payors.”
“I’m excited about the opportunity to partner with Waud Capital to identify and grow a business in the broader home care market,” said Mr. Jakubcanin. “Waud Capital’s executive partnership approach, dedicated ecosystem resources and deep investing experience across relevant areas, make the firm an attractive partner. I believe this combination will enable us to capitalize on transformative growth opportunities.”
This partnership builds upon Waud Capital’s experience partnering with proven leaders in the healthcare market and expands upon the firm’s track record of supporting companies across the home care and post-acute markets. Notable prior investments include PromptCare (home infusion and durable medical equipment), Concierge Home Care (home health and primary care), Ivy Rehab Network (outpatient physical therapy), CarePoint Partners (home infusion), Acadia Healthcare (behavioral health), Regency Hospital Company (long-term acute care), and DS Medical (home medical supplies).
“The partnership with Steve is another example of Waud Capital’s commitment to support experienced executive talent with a deep ecosystem of resources to execute transformative growth strategies in large, growing markets,” said Chris Graber, a Partner at Waud Capital, who leads the firm’s healthcare services investments. “We see significant opportunity in the broader home care services market and look forward to working closely with Steve to support the growth and transformation of another differentiated company.”
Based in Chicago, Waud Capital Partners is a leading growth-oriented private equity firm with total capital commitments of approximately $4.0 billion since its founding in 1993. WCP seeks to partner with strong management teams to build market-leading companies within two industries: healthcare services and software/technology. Since its founding, Waud Capital has successfully completed more than 400 investments, including platform companies and follow-on opportunities. For additional information on Waud Capital, please visit www.waudcapital.com.
Investment Professional Contacts:
Chris Graber, Partner
Kyle Lattner, Principal
Business Development Contact:
Phil Olson, Partner – Business Development
Investor Relations Contact:
Antonia Schwartz, Head of Investor Relations