BrightSpring Health Services, Inc.

What does BrightSpring Health Services do?

BrightSpring provides specialty pharmacy services and home- and community-based care across the United States. Its Pharmacy Solutions segment supplies institutional and specialty pharmacy services, while Provider Services delivers home health, hospice, and personal care.

Is BrightSpring publicly traded?

Yes. The company listed on NASDAQ in January 2024 under the ticker BTSG. KKR and Walgreens Boots Alliance remain its largest shareholders.

Who owns BrightSpring?

BrightSpring is publicly held but retains significant sponsorship from its private equity history. KKR and Walgreens Boots Alliance are the largest shareholders. Jon Rousseau serves as chairman, president, and CEO.

Where is BrightSpring headquartered?

The company is headquartered in Louisville, Kentucky, where its ResCare predecessor was founded in 1974.

What happened to ResCare?

ResCare rebranded as BrightSpring Health Services in 2023 after its 2019 merger with PharMerica created a combined pharmacy and care platform. The ResCare name was retired in favor of a unified master brand ahead of the 2024 IPO.

The company's oldest root is ResCare, founded in 1974 in Louisville as a provider of residential services for people with intellectual and developmental disabilities. ResCare grew through decades of acquisitions into the largest US provider in its category, listing on NASDAQ before being taken private in a series of private equity transactions, including a 2019 merger that combined it with PharMerica, a long-term care pharmacy company.

KKR's 2019 transaction, backed also by Walgreens Boots Alliance, created the platform that became BrightSpring. The combined business paired a national pharmacy operation with a community-based care network serving high-need, high-cost patients at home rather than in institutions.

The company rebranded from ResCare to BrightSpring Health Services in 2023 and completed an initial public offering on NASDAQ in January 2024, raising capital largely to reduce a debt load accumulated through its private equity history. Jon Rousseau, a former Cigna and Medco executive, has served as CEO since 2016.

Growth since the IPO has been rapid. In late 2025, BrightSpring acquired 107 home health branches from the Amedisys and LHC Group divestiture tied to UnitedHealth's Optum combinations, paying $239 million for assets producing about $345 million of annual revenue. The January 2025 agreement to sell Community Living to Sevita, expected to bring about $715 million of net proceeds for debt paydown, marked the company's sharpest strategic narrowing to date.

FY2025 continuing-operations results showed revenue up 28.2% to $12.9 billion, net income of $104.8 million versus a $68.9 million loss in 2024, and leverage reduced to 2.99x.

The predecessor ResCare business periodically drew scrutiny over quality of care in group home settings, a risk profile common to operators in the sector and one the company addresses through compliance and quality systems. Its pharmacy operations are subject to the same reimbursement and PBM-related regulatory debates affecting the broader drug supply chain.

The Community Living divestiture required FTC clearance, which was granted, reflecting the regulator's interest in consolidation among providers serving vulnerable populations.