Business expansion.LivHome Inc., the Los Angeles-based provider of in-home in-home adj. Operating in or provided at the home of the customer or patient: in-home shopping; an in-home nursing program. nursing care and other services to older adults, is expanding out of state. The company announced it has purchased AdvoLife Inc., which provides similar services in San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Walnut Creek Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Phoenix and Minneapolis. Last year LivHome expanded into the San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. area with the purchase of Age Concerns Inc., another elder service provider. Both purchase prices were undisclosed, but Chief Executive Mike Nicholson said the latest acquisition will raise the company's annual revenues to $35 million, making it the largest such company in the nation. LivHome's latest expansion was funded by the venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] of BA Venture Partners. Tullis-Dickerson & Co., and Kline Hawkes & Co. There is expected to be a rising need for in-home care services as the nation's elderly population grows. Staff reporter Laurence Darmiento can be reached at (323) 549-5225, ext. 237, or at ldarmiento@labusinessjournal.com. |
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