In the latest in a series of purchases in home care, Humana Inc. said on June 14 it will acquire Onehome from private equity firm WayPoint Capital Partners. Experts say the Medicare Advantage-focused carrier is leveraging its substantial cash reserves to differentiate itself in the burgeoning MA market and create synergies and efficiencies in remote care settings. Terms of the deal were not disclosed.
The move is driven partly by the changes to care delivery caused by the pandemic, experts say, but also aligns with a long-running Humana strategy. The pandemic has accelerated the adoption of home care, remote monitoring and virtual care. Regulatory changes, spurred by the need to deliver care away from traditional clinical settings during the worst spikes of COVID-19 infection, have made those systems more viable than they were before, despite the long-held ambitions of payers.
In turn, plan members became more fluent in and receptive to such offerings, which usually come with a large dose of web-driven technology. For MA-focused plans like Humana, whose elder members were obliged to become more tech savvy while isolating at home, adoption at the current pace was unimaginable before 2020. Humana has gone on a spending spree as a result of these dynamics. In April, the firm exercised an option to fully acquire another home health provider, Kindred at Home, in which it previously held a 40% stake.