Caregivers and clients expected to benefit following momentous recent announcement.
Technology care specialists Honor have acquired global franchise Home Instead which is a significant move set to revolutionise the way home care is delivered to the elderly. Honor lead the way in home care technology and, by purchasing the world’s biggest home care brand, it will transform the level of support offered to clients. It will also greatly enhance the work being done by caregivers the world over.
In addition to this major announcement, Honor has made it known that they will substantially increase their investment in research and development with regards to engineering and technology. Seth Sternberg, co-founder and chief executive of Honor, was understandably delighted by his company’s recent acquisition.
He said: “For the past 27 years, Home Instead has demonstrated a powerful combination of leadership, passion, and innovation. They have elevated the standard of care globally and have become the respected industry leader.
“This is an incredibly exciting moment as we bring together the pre-eminent global home care brand, to join forces with the best technology and operations platform. Together they will provide an even more amazing experience for caregivers and clients alike. Never before has a company offered this much investment in technology to improve care for ageing adults.”
Jeff Huber, the global chief executive of Home Instead, added: “These two organisations share one passion, and that is transforming the care experience for older adults around the world. For years, our commitment has been to create a world that we personally want to grow old in. And this transaction adds fuel to that commitment. Combining the strengths of these two companies moves our vision closer to reality.”
The two organisations combined will support the work of more than 100,000 professional caregivers, while meeting the expanding needs of millions of older adults and their families. And Marc Andreessen, co-founder and general partner with venture capital firm Andreessen Horowitz, explained: “Nobody, up until now, has been able to figure out how we deliver high-quality care at scale.
“This acquisition fundamentally transforms the senior care experience from analogue to digital. Technology will drive operational efficiency at scale, which is the only way to meet the skyrocketing needs of the baby-boomer generation. If we increase our capacity to care, the next generation – and those after – will reap the benefits as well.”
The Home Instead network will continue to operate under its own name, but as a subsidiary of Honor. The Honor Care Network will also continue under the Honor name, with Jeff Huber now reporting to Seth Sternberg.
Another vital ingredient to this ground-breaking purchase is that the brand will focus on increasing the level of professional development afforded to caregivers across the Home Instead network. This will enhance the career opportunities of caregivers of which there are currently 4,500 vacancies within Home Instead‘s UK network.
Martin Jones, chief executive of Home Instead UK, said “This pandemic has turned a simmering backburner issue into an urgent, global human crisis for older adults. The way the world cares for its elderly must evolve. The hospital of the future is the home. And our future will be led by a vibrant, respected workforce delivering care with skill and compassion. It’s an expectation we need to embrace quickly.”
According to a 2021 report titled Building the Caregiving Workforce Our Ageing World Needs, there is a severe shortage of professional caregivers across the globe. Honor‘s easy-to-use interactive app is already helping caregivers to deliver a top-class service and Martin Jones went on: “Senior care should always be a personal, high-touch experience. And we now have technology that will make that experience more personal and more high-touch.”
Global chief of Honor, Seth Sternberg, stressed: “Our primary focus is treating caregivers with respect and providing them with the tools they need to succeed. We know that if we care for our caregivers, they’ll in turn provide even better care for our parents.”
Home Instead, whose UK headquarters are in Warrington, was named ‘Gold Franchisor of the Year‘ by the British Franchise Association (BFA) last autumn. They also topped the Elite Franchise Top 100 list in December of last year.
About Home Instead: Starting out in the United States during the mid-1990s, the business established its UK base in 2005. They have more than 220 franchise offices across the UK, delivering over six million hours of quality care each year to more than 21,000 clients. The various franchise offices employ a total of over 10,000 caregivers, specialising in offering care and companionship in the home for older people. They also provide specialist dementia care, plus live-in care, end-of-life and respite care.
With global head offices in Omaha, Nebraska, the company was founded by Paul and Lori Hogan. The franchise operates in four continents and has more than 1,100 offices worldwide. In addition to the United States, Great Britain and Ireland, Home Instead can also be found in Australia, Canada, China, Germany, Japan, Italy New Zealand, Netherlands, Singapore and Switzerland.
About Honor: Founded in 2014, Honor is the first company ever to bring technology solutions, operational support and a large pool of caregivers to independently-owned home care agencies across the United States.
