PE targets tailwinds in senior care: 7 deals

The first of the baby boomers turn 80 in 2026, an event that is expected to generate substantial growth in senior care service demand. From housing development to nutritional services, private equity sees opportunities to address the supply and demand discrepancy in the sector. Financial pressures are also driving strategic divestitures and operator exits, further ripening the market for consolidation.

Starting from the most recent, PE Hub rounded up seven closed deals dating back to the beginning of 2026.

1. Health Wave Partners picks up memory care community Alamar Senior Living

Earlier in July, Health Wave Partners announced the acquisition of Alamar Senior Living, an assisted living and memory care community in Wellington, Florida. The sellers were Walton Street Capital and Scarp Ridge Capital Partners.

The community includes chef-prepared dining, a fitness center, a movie theater, a beauty salon, a dog park and a secure memory care courtyard. Alamar is managed by AgeWell Senior Living, a senior living management organization in Florida.

2. Brightstar snaps up healthcare architecture firm Erdman

Brightstar Capital Partners announced in June the purchase of Erdman, an architecture and engineering firm specializing in senior living and other healthcare facilities. The seller was Lubar & Co, which acquired the company in 2012.

Based in Madison, Wisconsin, Erdman has over seven decades of designing senior living communities, hospitals and medical office buildings nationwide and has active licenses in over 45 states. The firm has also developed ZeroIn, a proprietary healthcare analytics platform for data-driven market and facility planning.

“The 80-and-over population is projected to roughly double over the next two decades, driving sustained demand for exactly the types of facilities Erdman designs,” said Dan Faust, CEO of Brightstar’s architecture and design platform, in a statement. “We believe Erdman is well-positioned to serve that demand.”

As part of the deal, Erdman will be an add-on of KZF Design, a multidisciplinary architecture, engineering and design firm that Brightstar acquired in 2025.

“Erdman brings sector depth, a national footprint and a proprietary analytics capability that we believe strengthens the platform,” said Michael Burke, board chair of Brightstar’s architecture and design platform, in a statement.

3. Hidden River backs Northstar Senior Living

Also in June, Hidden River Strategic Capital announced an investment in Northstar Senior Living, a senior living management platform operating out of Redding, California.

The company provides management services to assisted living, memory care and independent living communities under long-term contracts with community owners.

Northstar is merging with Alta Senior Living, which offers a complementary portfolio of communities and is based in North Palm Beach, Florida. The combined company will operate as Northstar Senior Living.

Hidden River’s investment, which was made up of debt and convertible preferred equity, supports the merger through the integration of operations, investments in technology and operating systems upgrades, geographic expansions and additional growth opportunities in the senior living management sector.

“Northstar represents the type of business Hidden River seeks to support: a differentiated company with a durable, recurring model and meaningful opportunities for growth,” said Steve Gord, partner at Hidden River Strategic Capital, in a statement.

4. Goldman Sachs-backed Xpress Wellness acquires Midwest Counseling Services

Xpress Wellness, an urgent care provider backed by Goldman Sachs, announced in May an add on of Midwest Counseling Services, a provider of mental health services to older adults living in senior communities.

Xpress Wellness is headquartered in Oklahoma City and provides urgent care, virtual primary care, occupational medicine, behavioral health and post-acute services to rural and suburban communities. Goldman Sachs acquired the company in 2024 from Lattice Capital Management.

Midwest Counseling Services is based in Wichita, Kansas. Founder Lisa Harrison has been appointed Xpress Wellness’ director of post-acute operations overseeing the Kansas market in addition to providing patient care.

5. Pacific Avenue Capital Partners completes acquisition of Care.com from IAC

In March, Pacific Avenue Capital Partners announced a carve-out of Care.com from public company IAC Inc. The investment is the first out of Pacific Avenue Fund II.

Operating from Dallas, Care.com is a consumer marketplace and an enterprise benefits platform that provides people with a source of background-checked senior caregivers in the US as well as child and pet care and housekeeping. It partners with more than 700 employers, including many of the Fortune 100 companies.

As a standalone company, Care.com will accelerate its enterprise expansion while continuing to strengthen its consumer marketplace. Pacific’s investment will go toward faster product innovation, scaled employer partnerships and an enhanced platform experience.

6. Conscious Capital and Petra Capital snap up RD Nutrition Consultants

Conscious Capital Growth and Petra Capital Partners announced in January an acquisition of RD Nutrition Consultants, a provider of specialized dietitian consulting services to US healthcare facilities.

Headquartered in Bellevue, Nebraska, RD Nutrition serves over 1,200 skilled nursing facilities, senior living communities, acute care hospitals, dialysis centers, behavioral health facilities and home health and hospice providers.

Founder Robert DeLair will remain as CEO and retain an ownership stake in the business.

7. Main Post buys senior care provider HomeWell Care Services

Also in January, Main Post Partners announced the purchase of HomeWell Care Services, a US-based franchise provider of in-home care for seniors and homebound individuals.

HomeWell Care Services is based in Burkburnett, Texas, and is franchised by HomeWell Franchising Inc, which manages over 100 franchise owners representing over 170 territories across the US.

With demand for senior care on the rise, PE Hub expects to see more transactions in the segments in the coming months.