# Elara Caring

Elara Caring is an Asset Manager based in Addison, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Addison, United States
- **Region:** North America
- **Address:** Addison, Texas, United States
- **Assets under management:** Undisclosed
- **Website:** elara.com
- **LinkedIn:** https://www.linkedin.com/company/elara-caring

## Regulatory record

- **Reports private funds:** No

## About

Elara Caring is a healthcare company based in Dallas, Texas, founded in 1994. It offers home-based care services for patients and supports its caregivers. The company was previously known as National HMO.

## Sectors

- Healthcare Services

## People

- Scott Powers — Chief Executive Officer

## Questions

### Who runs investment decisions at Elara Caring?

Elara Caring is an operating company, not an investment firm. Strategic capital allocation and M&A decisions are governed by its board of directors in coordination with its private equity sponsor, Blue Wolf Capital Partners, and the lender group — including KKR — that assumed equity control following the 2021 debt restructuring.

### How was Elara Caring assembled, and who were the prior owners?

The platform was created in 2018 through the merger of three regional home health providers — Great Lakes Caring, National Home Health Care, and Jordan Health Services — orchestrated by Blue Wolf Capital Partners. A subsequent debt restructuring in late 2021 transferred majority equity control to a lender consortium led by KKR (per public filings, 2021–2022).

### What geographies and patient populations does Elara Caring serve?

Elara Caring operates across 17 states concentrated in the Midwest, Northeast, and Southern US. Its patient base includes Medicare-eligible seniors, dual-eligible individuals covered by both Medicare and Medicaid, and Medicare Advantage enrollees requiring post-acute home health, hospice, and palliative care services.

### How is Elara Caring structured differently from a single-market home health agency?

The firm operates a multi-state, multi-branch organizational model with a consolidated central office in Addison, Texas, overseeing hundreds of local care delivery sites. This structure allows centralized clinical compliance, payor contracting, and back-office functions, but also introduces complexity around state-by-state regulatory variance and local labor market conditions.

### What are the main revenue and reimbursement drivers for the firm?

Elara's revenue is predominantly derived from Medicare fee-for-service and Medicare Advantage plans, with smaller contributions from Medicaid managed care and private pay. Reimbursement is tied to episode-based payments under the Patient-Driven Groupings Model and hospice per-diem rates, making clinical documentation accuracy and readmission avoidance central to financial performance.

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Last updated: 2026-06-03T20:00:00.000Z

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