Help at Home is a leading national provider of in-home care services, delivering high-quality, relationship-based personal care and other services to help seniors and individuals living with disabilities in their homes, the preferred setting of care. During the second quarter of 2022, Help at Home with more than 170 branch locations across 11 states, provided in-home, community-based services to more than 60,000 clients monthly with the help of more than 40,000 highly trained caregivers. For more information about Help at Home, visit www.helpathome.com.
Chloe O’Connor, VP of Corporate Development, and Nicholas Doffek, Director of Corporate Development, have a passion for the healthcare space; their jobs are both professionally fulfilling and mission-driven.
“What drew me to Help at Home was that it is growing rapidly and has assembled a lot of smart and driven individuals who are trying to make a difference in the lives of our clients and our caregivers. My job marries the challenge of M&A and the reward of doing good for other people.” said O’Connor.
When it came to identifying new companies, the challenge was that the home care market is a highly fragmented industry. Ownership is not well-publicized and it’s hard to find correct company structures and contact information.
The Help at Home team members joined the corp dev space from investment banking backgrounds. They were well aware of legacy tools like Capital IQ, FactSet, and Crunchbase as they set up their sourcing strategies.
“But for private company information, home care specifically, the market is so fragmented and the companies are so small. Our potential clients didn't register with any of those service providers.” said O’Connor
Armed with years of experience in the healthcare sector and a passion for the Help at Home mission, O’Connor and Doffek turned to the most high-tech, state of the art tool available for corp dev teams in the healthcare space: Google.
“It was time consuming. We Googled home care companies in Georgia, and then just did manual filters after clicking on all the different websites,” said Doffek.
The Help at Home team needed a faster way to get a comprehensive view of private companies.
Grata’s private intelligence platform uncovers comprehensive company information faster than static databases.
Chloe O’Connor, VP of Corporate Development, and Nicholas Doffek, Director of Corporate Development, use Grata’s filters, lists, and similar company search feature to find the right prospective clients in minutes instead of days.
“Before Grata, building a list of 30 clients was a manual process. I would take a master list out of Google or a Medicaid website and it took two full days to filter those lists by state and by what companies were actually relevant to our service offering. With Grata, we can do that in five minutes.” - Chloe O’Connor, Vice President Corporate Development at Help at Home
“It's hard to find our kind of companies without a specific tool. That's what makes Grata so compelling,” said Doffek.
At Help at Home, four corp dev team members consistently use Grata. Their strategy is to divide searches by state to ensure they are not duplicating work. Each team member adds prospective companies to their lists which are updated in real time and viewable by the whole team. No additional, manual data-entry needed.
Not only are saved lists visible, but saved searches can be as well, giving the team the ability to learn from each other’s search strategies. “I can see what Nick is working on, what list he's been able to create, and what search keywords have been helpful for him,” said O’Connor.
The Help at Home team finds about 200 new companies a month in Grata. “And that’s with a lot of filters on,” said Doffek. Grata filters can start as generic as “industry type” and “location” and become more and more granular through custom tags.
The Help at Home team knows the non-medical home care sector well. They know instinctively what companies are a possible fit and which are not. They know the keywords and filters they need to use to find those kinds of companies. But as the Help at Home M&A strategy evolves, the “Similar Companies” tool in Grata has become vital to learning about the players in a new service offering.
Similar Company Search automatically builds new lists for Grata users based on similarities found between attributes like Business Model, Sector, Employee Count, Ownership, and Location.
“If we know that X company provides specific services, we are just one click away from seeing what companies are similar. It automatically pre-populates a list for us to review. That's been most helpful in starting new searches,” said O’Connor.