The Professional Companies Secures Investment from Serent Capital to Advance End-to-End Home Health Management Solutions

VCBeat (WeChat ID: vcbeat) has learned that The Professional Companies (TPC), a healthcare company headquartered in Arizona, recently announced an investment from Serent Capital, a private equity firm based in San Francisco. The specific investment amount was not disclosed. Additionally, TPC has appointed healthcare industry executive Brian Sassi as its Chief Executive Officer.

TPC, established in 1987, is a privately held home health management services organization. The institution delivers its services primarily through three independent yet interrelated legal entities: professional home care services, professional nursing, and a professional medical network. TPC provides end-to-end management for home-based users, encompassing a range of services including home agency network management, utilization review, case management, claims processing, and patient communication.

TPC’s services have increased patients’ access to home health care and, more importantly, reduced hospital readmission rates. TPC has helped implement some of the largest health plans in the United States, improving administrative efficiency. In 2018, TPC conducted 150,000 home health visits and coordinated care for over 350,000 members on behalf of its health plan clients.

Brian Sassi previously served as President and Chief Executive Officer of WellPoint’s Consumer Division, as well as President and Chief Executive Officer of Anthem Blue Cross, the largest Blue Cross health plan in the United States. With his joining of TPC, Brian Sassi brings more than 30 years of experience in the health insurance market to the company.

Regarding this appointment, Brian Sassi stated, “TPC is a leader in the home healthcare benefits management market. I am delighted to join TPC as Chief Executive Officer, and I will spare no effort to lead the company to success.”

Laura Nichols, President of The Professional Companies (TPC), stated, “This investment will help us expand our client partnerships and serve patients in more new markets. We are excited to partner with Serent Capital and leverage their growth and operational resources to lay the foundation for TPC’s development. I am also pleased to welcome Brian to the team. I believe his professional background aligns closely with TPC’s strategic objectives.”

“TPC’s leadership in the home healthcare management sector has improved patient health outcomes and delivered proven value to its health plan clients. TPC aligns closely with our investment focus,” said David Kennedy, Partner at Serent Capital.

Serent Capital, founded in San Francisco, California in 2008, is a private equity firm focused on investing in late-stage venture startups.

(Compiled by Li Chengping)