TELEO CAPITAL PORTFOLIO COMPANY, WELLCOVE, ACQUIRES ASSURICARE

News provided by

Oct 31, 2023, 10:45 ET

BOISE, Idaho, Oct. 31, 2023 /PRNewswire/ -- TELEO Capital Management, LLC ("TELEO") has announced the acquisition of AssuriCare, LLC ("AssuriCare"), a provider of electronic visit verification and nurse assessment software and services for long-term care insurance carriers, by its existing portfolio company, Wellcove by CHCS Services, Inc. ("Wellcove"). Wellcove is a leading administrator of senior market and eldercare programs.

Headquartered in Waltham, Massachusetts, AssuriCare offers a comprehensive suite of software tools to home care agencies, registries, and insurers.

The integration of AssuriCare's capabilities will significantly streamline the claims process for Wellcove and increase the quality and efficiency of services within the senior care market.

"We are now better positioned to offer a more comprehensive range of solutions that cater to the evolving needs of the senior care market. This acquisition underscores our commitment to delivering high-quality, personalized services to our customers," stated TELEO Capital.

About AssuriCare

Since 2010, AssuriCare has revolutionized the way people find, manage, and pay for long-term care, the way providers manage and grow their businesses, and the way payers and administrators receive, evaluate and process long-term care claims. To date, tens of thousands of providers and caregivers have used the AssuriCare platform to find and manage care, make payments and submit insurance claims, and this year, more than a half-billion dollars in total care value will be processed through AssuriCare.

For additional information, please visit: https://www2.assuricare.com/ .

About Wellcove

Wellcove by CHCS Services has been serving as the nation's leading full-service senior market solutions provider for over 25 years. Wellcove's solutions span the insurance senior market sector. Focusing on long-term care and Medicare Supplement plans A-N. Wellcove also addresses challenges faced in life, accident & health, disability, and the various other supplemental health insurance programs.

For additional information, please visit: https://wellcove.com/.

About TELEO Capital Management

TELEO Capital is a lower middle-market private equity firm that looks to invest in opportunities where its strategic thought, operational resources, and capital base empower management to perform and execute their business plan. TELEO brings a successful track record of executing corporate carve-outs, recapitalizing broken balance sheets, acquiring founder-owned companies, and implementing buy and build strategies for its portfolio companies. TELEO targets opportunities in the technology and software, healthcare IT, business services, and industrial sectors. The firm is headquartered in Boise, ID with an additional office in Los Angeles, CA.

SOURCE TELEO Capital Management, LLC