WAYNE, PA — Renovus Capital Partners has formed an investment partnership with Aspire Home Health Care, a Chicago-area provider of nursing and rehabilitation services, as the Wayne-based private equity firm expands its healthcare portfolio to capitalize on growing demand for care delivered outside hospitals and nursing facilities.
The transaction will support Aspire’s expansion into additional Midwest markets and investments in technology, clinical staffing and administrative operations, Renovus said. Financial terms were not disclosed.
Founded in 2013, Aspire provides skilled nursing and therapy services to patients recovering at home from orthopedic procedures, surgeries and other medical conditions. The company has served more than 80,000 patients across 23 counties in Illinois and Wisconsin.
Aspire will continue under the leadership of co-Chief Executive Officers Michael Simms and Richard Si.
The investment represents Renovus’ sixth healthcare talent platform, extending its strategy of backing businesses that depend on recruiting and retaining specialized healthcare professionals.
Renovus plans to introduce technology and artificial intelligence tools to reduce administrative workloads, particularly in revenue cycle management, billing and collections.
“Similar to our other platforms, we plan to invest in technology and AI-enabled tools, including revenue cycle management, to cut administrative burden, speed up billing and collections, and let clinicians spend more time with patients,” said Pat Heath, a principal at Renovus.
The investment comes as healthcare providers face rising demand for home-based services alongside persistent staffing shortages.
An aging U.S. population and efforts by insurers to shift post-acute care from institutional settings into patients’ homes are increasing demand for skilled nursing and rehabilitation services.
According to PHI’s 2025 workforce report, direct care occupations, including home health aides, are projected to generate approximately 9.7 million job openings between 2024 and 2034, including positions created by workers leaving the field.
Federal workforce projections also indicate continued pressure on clinical staffing. The Health Resources and Services Administration estimated a national registered nurse shortage of approximately 10% in 2027, with shortages expected to persist through 2037.
The agency projects that the supply of licensed practical nurses will meet only 64% of demand by 2037.
Those labor constraints make clinician recruitment and retention central to Aspire’s ability to expand services while maintaining patient coverage.
Renovus said it intends to build on Aspire’s relationships with referring orthopedic surgeons and regional health systems as the company enters additional communities.
Simms said the partnership would support Aspire’s existing relationships with healthcare providers, while Si identified regional expansion as a priority.
The transaction adds a home health services business to Renovus’ healthcare investments, with a focus on expanding clinical capacity and improving administrative efficiency.
Brentwood Capital Advisors served as Aspire’s exclusive financial adviser, and BakerHostetler provided legal counsel. Greenberg Traurig represented Renovus.
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