St. Louis-based senior health service provider EmpowerMe Wellness has inked an acquisition deal that will nearly double its headcount, adding 1,364 employees and expanding its growing U.S. footprint.
EmpowerMe Wellness, a startup that earlier this year announced it raised more than $100 million from investors, said Monday it has entered into an agreement to purchase Austin, Texas-based therapy provider ONR. Financial terms of the deal, expected to close in the upcoming weeks, were not disclosed.
Founded in 2017, EmpowerMe Wellness is a tech-enabled, multiservice health care provider for senior living facilities, providing integrated therapy, diagnostic, pharmacy and primary care services for their residents.
The acquisition of ONR, a provider of physical, occupational and speech therapy services for skilled nursing facilities and senior living communities, marks EmpowerMe Wellness’ latest growth initiative. Within the past year, EmpowerMe Wellness has added hundreds of employees, expanded its headquarters at 1335 Strassner Ave. in Brentwood and pursued M&A deals. In April, it said it purchased Tampa, Florida-based Salus Physical Therapy. With its deal for ONR, EmpowerMe Wellness says it will become “one of the nation’s largest providers of therapy services for senior living communities.”
After closing its purchase of ONR, EmpowerMe Wellness said it plans to keep the Austin, Texas-based firm’s management team, corporate office and employees. It said it will retain the ONR name, but that services provided at some facilities will soon be rebranded as EmpowerMe Wellness.
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EmpowerMe Wellness founder and CEO Josh Stevens said ONR, founded in 1988, is a company he’s been familiar with for several years and “more and more had heard about them in our sales meetings, as a competitor that was really good at what they do.” That led him to contact ONR founder and CEO Jill Capela, outreach he says was initially about seeking mentorship rather than exploring a M&A deal.
“We started talking and it led to a visit down to Austin and we realized how much chemistry and how many synergies there were between our companies,” Stevens said. "She’s built a 35-year legacy and she felt like this was a fantastic next step in the growth of her people and her legacy. It was very organic in that regard — no bankers involved, nothing like that — just good old-fashioned reaching out and starting a relationship with somebody.”
ONR provides its therapy services in 27 states, and Stevens said ONR will help EmpowerMe Wellness expand its geographic footprint, particularly in the western U.S. By adding senior health facilities through ONR, Stevens said EmpowerMe Wellness will also have the ability to offer its other senior health services to those communities.
“The opportunity to integrate our other health care services into the contract and benefit the residents they serve is a huge opportunity,” he said.
Additionally, Stevens said the expanded footprint for EmpowerMe Wellness gives it greater ability to advance its innovation efforts, namely technology it has developed that’s designed to streamline patient data and improve care for seniors.
“It allows us a lot of distribution opportunities for some of the tech we’re developing,” Stevens said.
With the addition of ONR, EmpowerMe Wellness’ team will expand to 2,880 employees, with more than 500 located in St. Louis. Stevens said the combined companies will have about 1,200 open roles at the closing of the deal, seeking to fill roles for both corporate and clinical operations. After the deal, EmpowerMe Wellness will provide services to 100,000-plus seniors at facilities in 36 states.
"This new partnership is a win-win for everyone involved, but the greatest beneficiaries will be the residents living in the communities we serve,” said Capela, ONR’s founder and CEO. “Our two companies were already known for our progressive, innovative approaches to health and wellness. Working together, we can truly transform how care is delivered in senior living to promote happier, healthier lives for seniors across the U.S."
