Through its residential, training, and support services, ResCare offers RESpect and CARE to people with physical and mental disabilities. ResCare has residential and nonresidential facilities in more than 40 states and some international locations. The company operates through four primary segments: ResCare HomeCare Services, ResCare Residential Services, ResCare Workforce Services, and ResCare Youth Services. The segments provide in-home personal care and training in social, vocational, and functional skills, as well as counseling and therapy programs. Additionally, Res-Care runs correctional and care programs for at-risk youth and assistance for adults. The company is owned by investment firm Onex.
In 2010, Onex issued a share tender offer worth some $545 million to take ResCare private. Onex already held a 25% stake in the company when it decided to make ResCare a wholly owned subsidiary.
ResCare's HomeCare and Residential segments are two of the largest players in the US special-needs industry (and the company's biggest business segments). They operate thousands of group homes for people with intellectual and developmental disabilities, and also provide home care and pharmacy services to the elderly and developmentally disabled. Historically, community services bring in 75% of the company's income.
ResCare depends on federal, state, and local government agencies to reimburse it for services delivered to the disabled through Medicaid programs. Conversely that means that any reductions in reimbursement rates result in a negative effect on the company's sales. Now that the company has been taken private, it doesn't have to report where its income comes from, but it's safe to say that Medicaid and other federal and local government-run programs will continue to be the company's main source of income for all of ResCare's divisions.
ResCare's Workforce Services provides training and job placement services throughout the US. It operates roughly 100 career centers in two dozen states to offer vocational assessment, career counseling, and job search assistance. Its international employment training services remain a smaller slice of company revenues, but it is seeking to expand that area by building relationships with local groups in the communities in which they serve.
As an outside, nationally experienced organization, ResCare Workforce Services can serve as a neutral broker among the various training and service delivery agencies in any given local labor market. Since it is free from local conflicts of interest, ResCare Workforce Services can work with all facets of a community's workforce program operations.
The company serves disadvantaged youths at training centers under the federal Job Corps program through its Youth Services segment. It also helps teens and adults transitioning from juvenile facilities or welfare into the workforce
ResCare is focused on broadening its range and reach through acquisitions of local and regional care providers and job training operations. In recent years ResCare has grown by making acquisitions, primarily in the Community Services segment. One of those acquisitions was Kelly Home Care Services, a subsidiary of Kelly Services that provides home care to the elderly and disabled in 18 states.
In 2010 the company reorganized and renamed its operations into its current four operating segments to focus on its long-term goal of adding services through organic growth and through acquisitions. It also hopes the change will diversify its revenue stream.
ResCare provides pharmacy services through its Pharmacy Alternatives (PAL) partnership with Pharmapro and Community Alternatives Pharmacy. PAL began operations in 2006 and is one of a handful of pharmacies in the nation that specialize in serving people with intellectual and developmental disabilities. In addition to providing traditional pharmacy services, PAL provides clinical support including seminars, conferences, webinars, email education, and individualized educational support. – less
4 salaries reported
$7.87 per hour