Elara Caring Secures New Strategic Investment from Ares and DaVita

Partnership will accelerate Elara’s growth and evolution as home health care leader; expand access to high-acuity care for complex diseases through new offerings 

Elara Caring (Elara), a leading national provider of skilled home health, hospice, behavioral health, and personal care services, today announced that it has entered into an agreement for a strategic investment from Ares’ Private Equity Group (Ares) and DaVita. The investment is intended to expand access to personalized, clinically advanced care at home for patients with complex and acute needs. Elara will continue to operate as a wholly independent company led by CEO Ananth Mohan and the current management team. Following the closing, the parties will collaborate to help Elara expand access to care through new care models and clinical programs. 

The investment from Ares and DaVita will support Elara’s next phase of growth by helping to expand its capacity to deliver specialized, in-home care and launch innovative care models. With Ares’ experience growing high-performing healthcare businesses and DaVita’s clinical and operational expertise in value-based care, Elara is well positioned to scale programs designed to improve outcomes and address gaps in post-acute care—bringing more consistent support to patients at home.  

“Too often, home-based care is introduced late in the care journey, significantly impacting outcomes and quality of life, especially with our vulnerable populations,” said Ananth Mohan, Elara Caring CEO. “This collaboration reflects a shared belief that care should be timelier, more personalized, and meet patients where they are most comfortable—at home. Together with Ares and DaVita, we have an extraordinary opportunity to improve the management of chronic conditions and deliver better results for patients and their loved ones as well as our healthcare system overall. We are thrilled to welcome them as partners.”  

“Elara Caring is a leading home care platform defined by a commitment to quality and a patient-first culture,” said Kevin Cox, Partner in Ares’ Private Equity Group. “We’re excited to partner with the Elara team and support their next phase of growth and innovation—expanding access, improving outcomes, and delivering an outstanding experience for patients and team members.” 

As a key focus of the investment, DaVita and Elara intend to co‑develop a kidney‑specific home‑based care model. This new model will build upon Elara’s existing clinical capabilities and apply DaVita’s advanced clinical insights to meet the unique needs of patients with kidney disease, seeking to reduce preventable hospitalizations, and helping to lower the total cost of care. The program will seek to offer patients a new pathway to receive high‑quality, tailored support in the comfort of their own homes, and empower providers with a vital resource to ensure high-touch, continuity of care.  

“Through our integrated care programs, we saw meaningful differences in patient outcomes that were closely tied to the quality of  homebased support they received,” said Steve Philips, Chief Strategy Officer of DaVita. “Strengthening access to Elara Caring’s exceptional services will help more patients maintain stability at home, avoid unnecessary hospitalizations, and ultimately experience a better quality of life.” 

The closing of the transaction is subject to customary closing conditions, including receipt of regulatory approvals, and is expected to occur later in 2026. The terms of the transaction were not disclosed. 

Harris Williams and Evercore are serving as financial advisors, Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel and Debevoise & Plimpton LLP is serving as financing counsel for Elara Caring. Guggenheim Securities, LLC is serving as financial advisor and Ropes & Gray LLP and McDermott Will & Schulte are serving as legal advisors to Ares and DaVita.