The Unsung Heroes of HCAP Partners’ Portfolio Companies
June 3, 2020
During these uncertain times, HCAP Partners has been proud of the leadership of its portfolio companies.
Whether it has been supporting front line medical employees with critical equipment or providing childcare resources to families in need, the efforts put forth by our portfolio companies are nothing short of exemplary. We are proud of their compassion, communication, and transparency and believe this will build long-term goodwill with employees.
HCAP Partners found itself at the forefront of the Covid-19 pandemic beginning in January of this year. We had learned there was a virus originating in Wuhan and that China was on lockdown, but we had no idea the disruption this would cause to supply chains around the world. Given the impact to one of our portfolio companies early on, this put our team on high alert.
In late February, we wondered if the impact to supply chains was industry-specific, but we soon realized as the virus spread across the U.S. and shelter-in-place orders became effective this would impact our entire portfolio. As such, in early March we requested each of our portfolio companies provide a financial update on the following:
Changes to budget or outlook for the next 90 days
Updated liquidity outlook
Any concerns from a potential long-term shutdown
In the push for information, we realized a large majority of our portfolio companies were already implementing emergency contingency plans. This included how to deal with the realities of working from home, a slowdown in closing customer orders, and getting inventory from overseas.
We believe the efforts made by many of our portfolio companies to support employees during this crisis is a model in the making.
HCAP Partners’ portfolio companies were not only smart in “battening down the hatches” in order to conserve cash, but have also gone above and beyond to help out their employees. As a team we are hopeful and excited to see the community come together and support its employees who are impacted by the coronavirus directly, whether at home or on the front lines.
Some examples of how HCAP Partners’ portfolio companies are supporting their employees:
Mission Healthcare
▸ Secured thousands of industry best-in-class supplies including surgical and N95 masks, gloves, gowns, etc. for its 600+ front line employees.
▸ Hosted drive-up parties at their branches to issue clinicians their PPE.
▸ Issued washable cloth masks and rearranged workspaces to support appropriate social distancing for all administrative support staff.
Arosa/LivHOME
▸ Created Arosa Grant Circle to provide up to $1,000 to team members who have experienced unusual or unexpected events making it difficult to afford basic living expenses.
▸ Improved online training resources related to Covid-19 certification and increased training requirements for all caregivers working directly with a Covid-19 positive or symptomatic client.
Lone Star Analysis
▸ Elected to pull forward bonus payouts for all eligible employees to help those facing loss of one income or reduced hours.
▸ Communicated their commitment to company growth and demonstrated support of their employees through their paychecks.
Confirm BioSciences
▸ Distributed face masks, hand sanitizer, and rapid antibody testing kits to all employees.
▸ Provided a monthly phone stipend to employees to offset any additional costs due to working remotely.
▸ Provided a shift-differential appreciation bonus to show gratitude to their employees who work in an office or warehouse environment each day.
A Better Life Recovery
▸ Began offering free clinical services to all staff.
▸ Was one of the first companies to order rapid antibody testing kits from Confirm BioSciences.
These highlights are just some of the many examples that show the type of positive impact each organization is creating for its employees. This not only aligns well with HCAP Partners’ Gainful Jobs Approach™️, but also aligns with public company best practices.
As the crisis related to Covid-19 evolves, compassion, communication, and transparency will be key. With these in mind, we feel strongly that our portfolio company management teams are building a much stronger communication regime and employees are appreciative. HCAP Partners also understands the emotional toll this crisis can have and, as such, we strive to be helpful where we can. At the end of the day, we are excited about our companies’ demonstrated efforts in supporting their employees and remain steadfast in our support for each company in our portfolio.
For more information or to discuss collaborations, please contact Nicolas Lopez.
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