Paul Mastrapa is replacing Jennifer Sheets as CEO of Interim HealthCare, the company announced Friday.
Sheets had served as the president and CEO of Interim since January of 2019. She also served as the president and CEO of Caring Brands International, the parent company of Interim, the U.K.-based Bluebird Care and the Australia-based Just Better Care.
Mastrapa will step into the role as president and CEO of Caring Brands International as well.
“I’m honored to take on this new leadership role at Interim HealthCare, an organization that has an excellent reputation for clinical excellence and a strong history of serving communities with personalized care and compassion,” Mastrapa said in a statement. “With the high patient demands facing health care right now, I’m confident in the expertise of our staff and entrepreneurial energy of our franchisees to continue leading the charge in home health care.”
The Sunrise, Florida-based Interim is a home-based care franchise that provides home health care, hospice care, palliative care, pediatric care, personal care and staffing services to about 200,000 individuals per year. The company has over 330 locations across the U.S.
Prior to Friday, there had been no indication from the company that Sheets would be stepping down.
Sheets began her career as a trauma and transplant ICU nurse in Tennessee. She then held leadership roles at Kindred Healthcare, Cornerstone Healthcare Group and Bayada Home Health Care before taking the helm at Interim.
In addition to her work at Interim, Sheets is also the head of the board at the Research Institute for Home Care (RIHC) and part of the board at the National Association of Home Care & Hospice (NAHC).
“Interim HealthCare thanks outgoing CEO Jennifer Sheets for her service to the company and wishes her well in her future endeavors,” Interim wrote in its press release.
Mastrapa’s background
Paul Mastrapa served as the CEO of Help at Home – one of the largest personal care providers in the country – from 2018 to 2021.
Since then, he has served as an advisor to multiple companies, including PFM Healthcare Consulting and the senior care company Lifespark.
“From an ownership structure perspective, I’ve been in senior roles in public entities. I’ve been in divisions of large private companies,” Mastrapa told Home Health Care News last year. “Now I’ve done a fair amount of private equity and I’ve really, really enjoyed the private equity experience. There’s nothing like bringing a lot of smart people to the table with a focus on investment and capital to really create an exciting opportunity. I’ve tended to focus now on working with private equity-backed businesses.”
To that end, the private equity firm Wellspring Capital Management acquired Caring Brands International in 2021. Wellspring also currently backs Help at Home.
Prior to his time at Help at Home, Mastrapa was also the CEO of Option Care Health (NYSE: OPCH). John C. Rademacher, Option Care’s current president and CEO, was on Mastrapa’s executive team as COO, eventually succeeding him.
A home and alternate site infusion company, Option Care Health recently tried to acquire Amedisys Inc. (Nasdaq: AMED), but was outbid by UnitedHealth Group’s (NYSE: UNH) Optum.
During his conversation with HHCN last September, Mastrapa expressed the need for more home-based care companies to become value-based providers.
“Until you actually grab the whole risk, it’s really difficult,” he said. “Some of my most frustrating incidents or experiences were when [Option Care] would work with very large health plans and show a nearly nine-figure savings opportunity on some of these very expensive drugs, and their first go-to would be, ‘Well, if I’m going to give you all this volume, what kind of a rate cut are you going to give me?’ When you’re in that mindset, it’s hard to break through.”
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