What is HomePlus?
HomePlus, established in 2015 as a Pennsylvania Non-profit Organization, initially focused on providing advice and support for immigrants in the Greater Philadelphia Area. The organization has since evolved, achieving Medicaid certification for Home and Community Based Services (HCBS). This certification enables HomePlus to offer comprehensive personal care services to individuals at risk of hospitalization or institutionalization, including the frail elderly, physically disabled, developmentally disabled, and those with traumatic brain injuries. Their services encompass assistance with daily living activities, aiming to improve the overall financial position by eliminating debt and increasing cash reserves through concentration on their growing home and community business.
How much funding has HomePlus raised?
HomePlus has raised a total of $350K across 1 funding round:
Debt
$350K
Debt (2020): $350K with participation from PPP
What's next for HomePlus?
With its recent major strategic investment and a focus on expanding its presence in current and new markets, HomePlus is poised for significant growth. The company's strategic direction includes adapting to the evolving HCBS industry, particularly the shift towards Managed Care Organizations (MCOs) in 2018. By focusing management and financial resources on addressing the needs of MCOs, HomePlus aims to solidify its position and capitalize on emerging opportunities within the healthcare landscape. The sale of its Home Health Business has further positioned the company for future expansion and development.
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