Volume 8, Issue 8, April 20, 2021

There is a struggle these days to find reliable and competent leadership. In many ways, the human services industry exemplifies the challenge. Despite an abundance of books, speeches, and guides that focus on the creation of good leaders, their absence persists.

This persistence, however, is not a result of our inability to pull good leadership from thin air. Rather, it's about our inability to simply look at the colleagues around us. Good management is cultivated, not found. This isn't a radical claim and is a concept I'm sure many are familiar with. But few, it seems, have managed to successfully cultivate new leaders. A complex reason why this challenge exists within the human services industry: gender disparity, especially for women of color. Human services is an industry that should, above all things, champion equity and equality for its clients/consumers — no question. Yet, if those same principles are not reflected in management, a company may find itself ill-equipped to champion anything. 

It is important for us to assess how gender carries such heavy implications for the future of human services. To understand the future, we must first examine the present. It is reported that about 81 percent of the human service workforce is currently comprised of women. Let me repeat: 81 percent. To say that women are the majority would be an understatement.

Why, then, do leadership roles not reflect this more often? Leadership should reflect its team, both morally and literally. Remember, strong expertise is cultivated, and that cultivation should be internal. The statistics don't lie. If a company nurtured and strengthened its management and leadership team by investing in its staff, far more women would be represented. This approach kills two birds with one stone: greater representation for women and stronger leadership.

That leads us to an important question: How can you champion the women in your organization to become leaders? Here are a few things that I have learned can help strengthen a company while creating a pipeline of leaders.

1. Employee reviews.

What seems like a human resources (HR) responsibility that is often viewed as a burden by many leaders, the employee review process is a wonderful opportunity to grow and develop leadership skills in your staff while also learning about their desires for growth and development. Use regular employee reviews to provide honest and genuine feedback to help staff grow. Most people want to know what they need to do to improve, so respect them enough to tell them the truth. Be sure that the documented reviews include staff development goals as well as employee feedback and input. This will help to ensure that all employees are given a chance to grow and develop their careers further.

2. Mentorship.

Many women lack access to successful women who can serve as mentors. Meeting with and discussing your profession with someone who has been successful is incredibly helpful. Empower your staff to find a leader who can be a mentor and offer paid time off so they can meet regularly.

3. Professional training program.

I recently worked with a human services company that had an established and defined management training program. If staff indicated that they wanted to eventually grow into leadership, this program was comprised of courses they could take that would help them develop core skills for effective leadership.

Such a program can be developed internally. If that's not feasible, you can help staff find external training opportunities. Regardless of how you approach nurturing leadership, it's important to help create a roadmap for growth with those staff who hope to advance within your organization.

4. Fit positions, not people.

Many human services companies have experienced this scenario: There is a super strong team member but no position that fits their skillset, so a position is created. I can tell you from experience that this rarely works out. The company usually outgrows the person, and the position is not as valuable in the future.

Rather, it's better to put such a person in an existing position and help them to learn the additional skills required to effectively fill the role. I remember hiring a young college student for my human services company's front desk receptionist. As she completed her bachelor's in business, she proclaimed her desire to work in HR. Since our company was in its infancy, I was the HR department, and it was clear that we would soon need a larger team. So, she started assuming some of the HR tasks and slowly grew into the position. She not only decided to continue her college education and earn her bachelor's in HR but eventually became our vice president of HR and built out our department to align with the company's growth.

5. Networking.

The interesting thing about human services organizations is that many are founded and operated by women. I have worked with multiple owners who are women. They are not only the CEO but have worn every hat during the growth of their company. These women often lack a business background. Rather, they are therapists, nurses, or teachers who have stumbled into the needs of the industry.

When I meet these women, I try to introduce them to other women in their industry since they are often are the best support network out there. If every woman who is an owner or in a position of power took the opportunity to support and network with other women, imagine the leadership that would develop.

6. Invest.

Invest in your staff. Pay them as much as you can afford to and provide them with paid opportunities to grow and learn. I have been consulting with a company owned by two amazing women and I see how they do this often. They have brought in multiple training opportunities as they professionalize their senior management group. They often ask their teams what trainings would be most valuable and then provide this education. Such an approach shows staff that you are investing in their success and desire to learn while helping them be better at what they do.

7. Flexibility.

One thing that this pandemic has shown many of us is who can get the job done from home and who needs an office setting. Many people are thriving in this environment that holds staff accountable for their responsibilities and the work they complete as opposed to the clock-in-clock-out mentality. 

Rethinking how we evaluate job performance to focus on goals and tasks instead of time at the desk is a great start. Most women in the workforce have the primary responsibilities at home, causing further stress on developing into a male-dominated position. Providing the flexibility for staff to work from home when needed or make up missed hours at alternative times can not only help the job get done but will create a more dedicated workforce that respects an organization that supports staff and understands their professional and personal needs.

8. Growing.

Whether through organic growth or acquisition, the larger your organization becomes, the more opportunity exists for professional movement. When I have helped smaller organizations sell their business to larger entities, I often point out the new opportunities for growth and development of staff. It's always good to explain to your staff that your motivation for growth is not purely financial, but that those additional funds help to strengthen the organization to provide more opportunities for staff growth.

Closing the Gap, Reaping the Rewards

According to a LinkedIn study, the leadership gap is the biggest talent challenge that organizations are facing around the world. Eighty-six percent of companies are calling it "important" or "urgent," and an astounding 85 percent of executives report that they are "not confident in their leadership pipelines."

We cannot sit around and simply hope that the leadership gap that exists in the human services industry will close on its own in. This will not happen, and we will be wasting valuable opportunities to better our companies and the industry as a whole. Women-owned businesses account for 42 percent of all businesses (50 percent of whom are women of color), so if you can't find support within our industry, try looking outside of it. If human services leaders work together, support one another, and champion the abilities of their staff from early in their careers, we should be able to fill the gap and create some amazing female CEOs.

FORT WORTH, Texas, Feb. 4, 2021 /PRNewswire/ -- Living Innovations Support Services, Inc. (https://livinginnovations.com), a New England provider of supports for over 1,300 people with disabilities, has joined the Mosaic (https://www.mosaicinfo.org) family. In its new partnership with Living Innovations, Mosaic, a Nebraska-based provider of personalized services, has increased its reach to people with diverse needs in Maine, New Hampshire, Rhode Island, and Connecticut. The transaction was facilitated by VERTESS (https://vertess.com), a leading healthcare Mergers + Acquisitions (M+A) advisory firm.

Living Innovations, led by founder and CEO Neal Ouellett, is an innovative and successful community-based provider agency that facilitates day and residential services to children and adults.  They have been strongly committed to community inclusion.  The transition to Mosaic continues their dedication to meeting the unique needs of each individual and expanding their resources.

"I am excited to have helped Neal find the best fit for the Living Innovations family. Neal met with multiple buyers and vetted each very carefully," said Rachel Boynton, VERTESS Managing Director. "I think he made an amazing decision for the Living Innovations team. It was a pleasure to work with such a dedicated professional."

Neal commented, "We told ourselves we only have one chance to get this right and I'm convinced we've done just that. Mosaic has all of the things that we are looking for in a partner."

Mosaic has been strategically selecting new partners to help grow and expand their mission. Linda Timmons, President and CEO of Mosaic, believes their combined organizations will have a stronger voice for shaping the future of quality services for people with intellectual and developmental disabilities and other diverse needs.

For more information, please contact Rachel Boynton at 290782@email4pr.com or 520-395-0244.

Bradley Smith takes part in our most recent podcast discussing ‘How Advisors Can Streamline a Healthcare M&A', talking to our podcast host Jennifer Riggins.

Brad and Jennifer discuss the role of an M&A advisor working specifically in the healthcare sector and how Vertess came to be a 'go to' international healthcare consulting and M&A firm in the US +++ much more!

Brad is an experienced Managing Director and Partner at Vertess with considerable expertise in DME, urgent care, home health care, hospice, pharmacy, medical devices, and related healthcare verticals. He has been a member of IR Global since 2015 as our exclusive Business Advisory Services member in Arizona & Texas. View Brad's profile here - www.irglobal.com/advisor/bradley-smith-atp-cmaa/

For more information on how Brad and Vertess can assist you on any of the matters raised in this podcast, please contact him directly via bsmith@vertess.com or visit the Vertess website vertess.com/

FORT WORTH, Texas, Nov. 5, 2020 /PRNewswire/ VERTESS (https://vertess.com/), a leading healthcare mergers and acquisition (M&A) advisory firm, has facilitated 12 significant transactions to date in 2020 despite the many challenges posed by COVID-19.  The successes were achieved on both the sellside and buyside within a variety of different healthcare verticals, including behavioral healthcare, durable medical equipment (DME), intellectual and development disabilities (I/DD), and pharmacy. VERTESS anticipates closing an additional eight transactions prior to the end of the year as the market continues to stabilize.

"We've far exceeded our expectations for M&A activity since the onset of the pandemic," noted Bradley Smith, the VERTESS Managing Director/Partner who represented several clients in their successful transactions. He added, "Initially, we assumed many deals would wither on the vine as buyers put deals on 'pause.'  We worked closely with our clients and buyers to continue discussions and, ultimately, reached the finish line for most of those deals."

In addition, VERTESS has continued to expand its operations and bring on new team members.  They added a new Managing Director and a part-time financial analyst during the last seven months.  They are currently bringing on additional business development support to connect with members of the healthcare community.

"There has been a significant uptick in the number of people reaching out to discuss their companies and their personal goals," Smith stated.  "Whether due to the current healthcare crisis or other external/internal factors, healthcare business owners are seeking help understanding their options.  The additional new team members have given us the bandwidth to engage in meaningful discussions with owners. We expect to continue our growth and success in 2021, given the experience and knowledge of our team as well as a strong pipeline."

For more information, please contact Vaughne Glennie at 258325@email4pr.com.

FORT WORTH, Texas, Oct. 7, 2020 /PRNewswire/ -- VERTESS (www.vertess.com), a leading healthcare mergers and acquisitions (M&A) advisory firm, today announced the closing of three dynamic Intellectual and Developmental Disabilities (I/DD) service provider transactions in September 2020 in the face of healthcare upheaval. COVID-19 has proven to be the ultimate contender for providing, as well as accessing healthcare in the United States. Adaptions are inevitable and have been paving the way to powerful partnerships within the I/DD sector.

A+ Solutions (http://thinkaplus.com), an Ohio-based educational and psychological provider, was acquired by Refresh Mental Health, Inc. (https://www.refreshmh.com), the national clinical leader in providing psychiatric, psychological and therapy services.  Will Hartje, Vice President of Corporate Development for Refresh commented, "We are very excited to work with the founders of A+, Oren and Hadassa, to build upon the strong foundation and expand the A+ clinical model of excellence to complement our growing network of outpatient mental health clinics."

Bell Family, LLC (https://bellfamilyllc.com),an Arizona-based home and community based-services (HCBS) provider, was acquired by The MENTOR Network, Inc. (https://www.thementornetwork.com), a national healthcare and human services company. 

Spectrum Home Healthcare, LLC (https://spechomehc.com), an Arizona-based home healthcare provider, was acquired by The MENTOR Network, Inc. (https://www.thementornetwork.com), a national healthcare and human services company.

Rachel Boynton, the Managing Director who represented A+ Solutions, noted, "The deal hit a significant road bump when COVID-19 began, but the owners of A+ were able to quickly pivot their service delivery model and not only recover lost revenue, but increase it." With regards to Spectrum Home Healthcare, LLC, she goes on to say, "The family (Spectrum) has provided such amazing community-based services, I am excited to see them be able to grow through their integration into The MENTOR Network."

Dave Turgeon, the Managing Director who lead the sell-side transaction for Bell Family, LLC, stated, "The small providers are often overlooked. I am happy to have helped guide a well-deserving home-health provider to continue their influential reach within their community while reaching end goals."

For more information, please contact Dave Turgeon and Rachel Boynton at 256136@email4pr.com

FORT WORTH, Texas, Sept. 18, 2020 /PRNewswire/ VERTESS (www.vertess.com), a leading healthcare mergers and acquisitions (M&A) advisory firm, today announced the closing of four major Durable Medical Equipment (DME) healthcare transactions in Q2 and Q3 2020, despite challenges brought on by the pandemic. Even during unprecedented times, 2020 has been steadily gaining momentum within the DME industry. With several successful transactions this year, traction continues to increase in this sector.

Bradley Smith, the Managing Director who represented the four sellers in the transactions stated, "Even in the face of adversity that is 2020, I am thrilled to have helped deserving owners successfully exit their businesses while also helping bridge the gap for these healthcare providers to extend their established platforms."

Med Inc. (https://medinc.net), a Virginia-based DME Clinical Respiratory Provider, was acquired by Rotech Healthcare, Inc. (https://www.rotech.com), a Florida-based national leader in providing respiratory and sleep apnea treatment.

Health Technology Resources, LLC (https://yourhtr.com/), an Illinois-based clinical respiratory-focused DME provider, was acquired by Protech Home Medical Corp. (https://www.protechhomemedical.com), a Kentucky-based publicly traded healthcare services company.

Alliance Medical Supply (https://www.alliancemedicalsupply.com), a Texas-based pediatric respiratory and nutritional equipment supplier, was acquired by Pediatric Home Respiratory Service ("PHS") (https://www.pediatrichomeservice.com), a Minnesota-based independent comprehensive home care provider.

The assets of Metro-Med, Inc. (https://metromed.com), a California-based provider of respiratory services, were acquired by Rotech Healthcare, Inc. (https://www.rotech.com), a Florida-based national leader in providing respiratory and sleep apnea treatment.

For more information, please contact Bradley Smith at bsmith@vertess.com.

FORT WORTH, Texas, Sept. 15, 2020 /PRNewswire/ -- VERTESS mergers and acquisitions (M&A) advisory firm (www.vertess.com) is pleased to announce that David Coit, Jr., Finance + Valuation Director, recently earned the Certified Business Exit Consultant^® Designation from the International Exit Planning Association (IEPA).  The Certified Business Exit Consultant^® Designation is a significant achievement and further establishes David as one of the elite exit planners in the marketplace today.

"I'm excited to now offer our business clients exit planning as an additional value-added consulting service along with business valuation, value growth, and M&A consulting.  Business owners who plan their exit are more likely to achieve their goals than those who don't," David commented.

To receive the CBEC^® Designation, David completed the high-level nine-week training program that required 30+ hours of pre-course study, 32 hours of extensive, leading edge curriculum taught by top expert instructors in their respective fields as well as the successful completion of the final exam.  As an additional requirement for the CBEC^® Designation, David delivered an exit plan to an owner and submitted that plan to the IEPA's Certification committee for review.  The quality and the brand of the IEPA's CBEC^® Designation requires this type of process.  Holding graduates to this standard ensures the IEPA that any advisor in the marketplace with the CBEC^® designation has not only gone through their extensive Certification course and pre-work, but they have also taken an owner through this process and delivered the type of solution that the IEPA expects from their advisors.

The International Exit Planning Association's CBEC Designation Program
The emerging field of exit planning requires that our Certified Business Exit Consultant^® graduates not only learn the material, but are also well-equipped to go out into the marketplace and deliver the exit planning services to exiting owners.  In order to have a comprehensive approach to an owner's needs, an advisor or consultant must have a solid plan to message this unique service to an exiting owner as well as sell and service the exit planning engagement.  The CBEC^® Designation is designed to deliver this combination of training and skills through our rigorous curriculum, live practice management training and ongoing support. 

David can be reached at dcoit@vertess.com.

FORT WORTH, Texas, April 1, 2020 /PRNewswire/ -- Leading healthcare mergers and acquisitions (M+A) advisory firm, VERTESS, announced today that Chris Nielsen, an experienced advisor and entrepreneur in the durable medical equipment (DME) and home health marketplace, has joined the company as a Managing Director.  Chris started his career as a securities broker and investment advisor before focusing solely on sellside and buyside transactional work in the healthcare space. As Managing Partner of Four Capital, he helped numerous clients successfully maximize the value of their company over the past 20 years.

"I had worked with VERTESS on a previous transaction and knew they had a strong firm. I am excited by the opportunity to broaden my advisory and consulting services and draw upon the experience and depth of the entire team," Chris noted. "It was a natural fit for me as a healthcare business advisor. This is a great opportunity that will enhance my ability to better support our clients."

FORT WORTH, Texas, Feb. 27, 2020 /PRNewswire/ -- RSVP Home Care and Pulmonary Partners ("RSVP") (https://www.rsvphomecare.com/), a pediatric specialist group providing medical supplies and services in Kentucky, Ohio, and Indiana recently partnered with Pediatric Home Service ("PHS")(http://www.pediatrichomeservice.com/), a Minnesota-based independent comprehensive home care provider. RSVP Home Care and their adult division, Pulmonary Partners, provide specialized in-home enteral nutrition, respiratory care, and equipment to patients.  The transaction was facilitated by VERTESS (https://vertess.com), a leading healthcare M+A advisory firm.

"We believe this new partnership is win-win for RSVP, PHS, and the patients receiving services," noted Bradley Smith, the VERTESS Managing Director/Partner who represented RSVP in the transaction. "Continuity in the quality of care is the highest priority for both RSVP and PHS."

RSVP was founded by a group of respiratory therapists and serves technology-dependent pediatric patients and an adult population.  They offer a full range of Durable Medical Equipment (DME), Home Medical Equipment (HME), and clinical respiratory services.

FORT WORTH, Texas, Feb. 13, 2020 /PRNewswire/ -- In a strategic move to better capture opportunities to grow in other states, Mosaic (http://www.mosaicinfo.com), a Nebraska-based provider of personalized services to more than 3,700 people with diverse needs in 10 states, transitioned its Texas services to Caregiver Inc. (http://www.cg-idd.com), a Texas-based provider, effective Feb. 10, 2020.The transaction was facilitated by VERTESS (http://www.vertess.com), a leading healthcare Mergers + Acquisitions (M+A) advisory firm."Our 'Real life. Real possibilities.' strategic roadmap positions Mosaic to grow substantially over the next five years," said Linda Timmons, Mosaic President and CEO. "Our whole-person healthcare model puts people at the center of everything we do. The funding and regulatory model in Texas is no longer a fit with our vision for services."

Mosaic has been in active acquisition and growth mode for several years, acquiring providers in Kansas, Iowa, Arizona and Nebraska. The organization has also expanded its lines of service, adding in-home supports for seniors and others with diverse needs, behavioral and autism-specific services, and managing dramatic growth in its host home service, Mosaic at Home.

"At the heart of this transaction was the desire to provide the best possible resources for the people in Texas.  Mosaic and Caregiver were committed to ensuring a smooth transition for all of the clients affected," noted Rachel Boynton, VERTESS Managing Director.

YARMOUTH, Maine – Building on a handful of notable deals in late 2019, M&A analysts say they expect a strong 2020—at least to start.

Among the most active in 2019 was AdaptHealth, which in the fourth quarter bought several sizable companies, including McKesson’s Patient Care Solutions business, and became a public company.

“There is money flowing and deals—good deals—are getting done,” said Don Davis, president of Duckridge Advisors. “I think the buyers are going to be more aggressive, chasing deals and getting people motivated to sell in the first half of the year.”

AdaptHealth also bought the HME business of Advanced Home Care in December.

AdaptHealth’s activity underscores a trend of continued consolidation in the HME industry, despite an already thinned out crowd, analysts say.

PLYMOUTH MEETING, Pa. – AdaptHealth’s acquisition of Patient Care Solutions gives the provider a nice platform for expanding its supplies business, say analysts.

PCS offers disposable medical supplies, including urological, incontinence, wound care and diabetes supplies, as well as breast pumps.

“They’ve been doing supplies as a matter of course and I think this gives them the opportunity to leverage the customer base they have,” said Pat Clifford, managing director, the Braff Group. “It’s a good acquisition.”

Also part of the deal, announced in November: AdaptHealth will enter into a supply and distribution agreement with McKesson for PCS’s service lines.

The pack-and-ship model for supplies is one AdaptHealth already knows, thanks to its acquisition in 2018 of Verus Health, a national provider of CPAP supplies.