Honor acquires Home Instead – big news for aging in place

Together, Honor and Home Instead plan to transform care experience for caregivers and older adults by empowering the caregiving workforce and increasing innovation to revolutionise care for the growing aging population.
Honor Technology, Inc has acquired Home Instead, Inc, effective today (6 August). The acquisition brings together one of the largest, highest-touch home care network and a leading home care technology and operations platform to transform the professional caregiver and client experience and revolutionise care for older adults. The combined organisation represents more than $2.1 billion in home care services revenue and affirms itself as the largest player in the projected $500 billion home care industry. Financial terms of the acquisition were not disclosed.

Longevity.Technology: Honor’s technology and operations platform, paired with Home Instead’s leading global network, training leadership and relationship-based care, will serve as a foundation for a dramatic increase in innovation to benefit caregivers and clients through expanded offerings.

Longevity.Technolgy sees today’s acquisition as further proof of how key the aging in place market is. According to a recent report, from 2017 to 2032, the US’s population aged 65 and over is projected to grow by 48% and the population aged 75 and older, to an enormous 75.3%. The silver tsunami is coming – it’s time to surf it or sink. Get all the insights into aging in place with our forthcoming report.

“For the past 27 years, Home Instead has demonstrated a powerful combination of leadership, passion, and innovation – elevating the standard of care globally and becoming the respected industry leader,” said Seth Sternberg, co-founder and CEO of Honor. “This is an incredibly exciting moment as we bring together the preeminent global home care brand and network with the best technology and operations platform to provide an even more amazing caregiver and client experience. Never before in the history of the world has a company had this much reach or this much investment in technology to solve caring for aging adults, their loved ones and those who care for them.”

To drive innovation, Honor plans to substantially increase its investment in research and development through engineering and technology. Honor and Home Instead also plan to extend their advocacy and social purpose initiatives. The combination should empower professional caregivers and enable millions more older adults across the globe to receive the support they need now and in the future.

Honor acquires Home Instead – big news for aging in place