Elara Caring secures strategic investment from Ares and DaVita

Elara Caring announced it has entered into an agreement for a strategic investment from Ares' Private Equity Group and DaVita Inc. (NYSE: DVA). The home healthcare provider will continue operating as an independent company under CEO Ananth Mohan and current management following the transaction's closing.

The investment aims to expand Elara's capacity to deliver specialized in-home care and launch new care models. Elara provides skilled home health, hospice, behavioral health, and personal care services across 18 states, serving more than 60,000 patients daily through 200 locations.

As part of the partnership, DaVita and Elara plan to co-develop a kidney-specific home-based care model. The program will combine Elara's clinical capabilities with DaVita's expertise in kidney care to reduce preventable hospitalizations and lower total care costs for patients with kidney disease.

"This collaboration reflects a shared belief that care should be timelier, more personalized, and meet patients where they are most comfortable—at home," said Mohan.

Kevin Cox, Partner in Ares' Private Equity Group, stated the firm is "excited to partner with the Elara team and support their next phase of growth and innovation."

Steve Phillips, DaVita's Chief Strategy Officer, noted that strengthening access to home-based support will help patients "maintain stability at home, avoid unnecessary hospitalizations, and ultimately experience a better quality of life."

The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close later in 2026. Financial terms were not disclosed.

Harris Williams and Evercore are serving as financial advisors to Elara, while Guggenheim Securities is advising Ares and DaVita. Ares Management Corporation (NYSE: ARES) manages over $595 billion in assets as of September 30, 2025.

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