Pulling Back the Curtain on Riverside Home Care's Strategic Exit — JM Simmonds, Michelle Simmonds & Alex Veach

JM and Michelle Simmonds join David Knack alongside Alex Veach of Agenda Health for a behind-the-scenes look at the journey from startup founders to successful sellers—and what came next after the deal closed.

What began as a small home care agency eventually grew into Clear Path Home Care, a multi-location operation serving rural communities across Texas and Colorado. Rather than chasing large metropolitan markets, the Simmonds built their reputation by going where others wouldn't—bringing care to underserved communities, creating jobs in rural areas, and becoming a trusted provider for veterans through their VA partnerships.

The conversation explores the realities of building a home care business without a roadmap, the challenges of scaling across multiple markets, and the operational decisions that ultimately made Clear Path an attractive acquisition target. JM and Michelle share how they transitioned from owner-operators into executive leaders, why they initially had no plans to sell, and how a routine valuation unexpectedly opened the door to a life-changing opportunity.

Alex Veach provides the advisor's perspective on what buyers are looking for in today's market, why some agencies command premium valuations, and the common mistakes owners make when preparing for an eventual exit. Together, they unpack the importance of leadership development, operational independence, payer diversification, and long-term strategic thinking.

Whether you're just starting your agency or already thinking about succession planning, this episode offers practical lessons on building a business that creates impact, generates value, and provides options for the future.

Lesson Takeaways:
1. Build a Business Worth Owning Before Building One Worth Selling: Strong operations and culture create long-term value.
2. Underserved Markets Often Hold the Biggest Opportunities: Success doesn't always come from chasing the largest cities.
3. Community Relationships Drive Sustainable Growth: Local trust can become a powerful competitive advantage.
4. Owners Must Eventually Work On the Business, Not Just In It: Leadership teams create scalability and enterprise value.
5. Valuations Are Strategic Planning Tools: Understanding your agency's value can help guide future decisions and opportunities.
6. Revenue Concentration Creates Risk: Even successful payer relationships should be balanced with diversification.
7. Exit Readiness Starts Years Before a Sale: The best outcomes come from consistent preparation rather than last-minute planning.
8. Great Agencies Attract Great Buyers: Businesses built on strong fundamentals tend to create more opportunities when they go to market.

Timestamps:
00:00 — Welcome to Home Care Hindsight Podcast powered by Zingage
01:32 — Meet JM Simmonds, Michelle Simmonds, and Alex Veach
04:06 — The founding story behind Clear Path Home Care
05:49 — Building a business before home care resources were widely available
06:15 — Moving operations from Austin to rural Texas
08:06 — Discovering unmet demand in underserved communities
09:14 — Reinvesting profits to fuel growth
09:36 — Expanding into new markets across Texas
10:32 — Michelle's transition from nursing to marketing leadership
11:52 — Growing as a private-pay agency
12:27 — The breakthrough opportunity with VA contracts
13:17 — Becoming the provider willing to serve overlooked markets
14:18 — How estate planning led to a professional valuation
15:17 — The conversation that sparked thoughts of an exit
16:00 — Evaluating opportunities beyond Clear Path
17:38 — Alex Veach's journey into healthcare M&A
19:31 — Why Agenda Health works with owners long before they sell
20:33 — What made Clear Path stand out in the market
21:42 — Building an agency that buyers wanted
22:03 — Lessons learned from creating a valuable business

Quotes:
Michelle Simmonds: "Do you want to make money or do you want to make a difference?"
Michelle Simmonds: "I think we're going to have to make a difference before we make money."
JM Simmonds: "You have to find someone in that market that has ties to that community."
JM Simmonds: "A lot of business owners either don't have a plan beyond the sale, or they haven't built the business correctly to get there."
Alex Veach: "Great agencies sell themselves."

Resources:
1. Riverside Home Care — https://rivhc.com/
2. Clear Path Home Care — https://clearpathhomecare.com/
3. Connect with JM Simmonds on LinkedIn — https://www.linkedin.com/in/jm-simmonds-821430165/
4. Connect with Michelle Simmonds on LinkedIn — https://www.linkedin.com/in/michele-simmonds-02a3811a7/
5. Connect with Alex Veach on LinkedIn — https://www.linkedin.com/in/alex-veach/
6. Agenda Health — https://agendahealth.com/
7. (Mentioned) Brown & Fortunato
8. (Mentioned) Leading Home Care (Stephen Tweed)
9. Connect with David Knack on LinkedIn: https://www.linkedin.com/in/david-knack/
10. Powered by Zingage: https://zingage.com
11. Watch this episode on Zingage's YouTube: https://www.youtube.com/@Zingage