August 26, 2026
A potential client called us recently to ask about our company and our home care services. One of his hot-button topics was our company structure and whether we are owned by a private equity group. It’s a very timely topic that we believe not enough consumers are aware of.
Ownership matters more than you might think
Most families looking for a home care provider focus on the most urgent questions: Is the caregiver experienced? Can they start soon? What does it cost? Fewer families think to ask a question that’s become increasingly important in recent years: Who actually owns this company?
More people are starting to ask this question about healthcare providers in general. Over the past decade, private equity firms and real estate investment trusts (REITs) have bought hospitals, nursing homes, and physician groups across the country. News articles have made many consumers aware of these changes in hospital systems and nursing homes. Fewer people realize the same thing has been happening in home care.
A quiet shift in the home care industry
Home care used to be dominated by small, independently owned agencies, often started by nurses or family caregivers who saw a need in their own community. That’s still true in many places, including here at Wellspring, which was started in 1993 by a geriatric care manager, Sheila McMackin, MSW LCSW. But over the last several years, private equity firms have been buying other local agencies, adding them to their investment portfolios.
“Private equity funds are partnerships that acquire companies, restructure them with a focus on increasing revenue, and then sell them at a profit within a short timeframe—usually three to seven years,” explains an article published by the Center for American Progress (CAP).
This doesn’t mean any one company is doing something wrong. But consumers should know what research on this trend in healthcare has found. When an investment firm’s main goal is generating returns for investors within a few years, decisions about staffing levels, wages, and care standards can be affected. Prices can rise. Caregiver turnover can increase. Sometimes important decisions are made in a corporate office in another state entirely.
The benefits of Wellspring’s independent ownership
Wellspring Personal Care has never been acquired or bundled into an investment portfolio. We are independently owned, which means the people making decisions about your care also live in greater Chicagoland. We answer the phone when you call and we’re accountable to the families we serve, not to shareholders or a private equity timeline.
Independence shapes our approach to home care in a few concrete ways:
Nurse-directed care. Every client’s plan of care at Wellspring is developed and overseen by a registered nurse, not a corporate template applied the same way across hundreds of clients. A nurse assesses each client’s needs, builds a care plan around them, and stays involved as those needs change. The RN adjusts care when needed or when the patient’s doctor orders it, rather than waiting on approval from a distant office. That kind of nurse oversight is harder to sustain when a company is managing rapid growth across many markets at once.
Local knowledge and relationships. Because Wellspring started in Chicago, our team understands local and regional resources—the physicians, hospitals, and support services families may need to connect with. For cases involving the most vulnerable patients, we also have expertise and connections in guardianship support. We match our caregivers to clients with attention to personality and household, not just availability, and the same familiar faces tend to return visit after visit.
Accountability. When a question or concern comes up, families aren’t routed through a call center or a corporate escalation process. They’re talking to someone local who knows the client and can act quickly.
What to ask when you’re comparing home care agencies
Families don’t need to become industry experts to make a good decision, but a few simple questions can reveal a lot:
- Who owns this company, and has it been sold or acquired recently?
- Who designs and oversees the plan of care? Is a nurse actively involved on an ongoing basis?
- If I have a concern, who do I talk to, and are they local?
- How long have caregivers typically been with the company?
All of these questions provide useful information. In fact, more people are already asking them when choosing a hospital or a nursing home.
At Wellspring, the answers are straightforward: independently owned, nurse-managed care, and locally accountable, now and for the years to come. Read more about our caregiving philosophy or call us today at (312) 648-1565 or email wpc@homecarechicago.com.