Consumer Direct Care Network (CDCN) Transitions to Employee Ownership, Benefitting 135,000 Caregivers
CDCN has established an Employee Ownership Trust (EOT), aligning ownership with mission and benefitting 135,000 caregivers across 14 states.
Consumer Direct Holdings, Inc. (CDH), known as Consumer Direct Care Network (CDCN), has officially transitioned to an employee ownership model through the formation of an Employee Ownership Trust (EOT). For over 30 years, CDCN has provided in-home care assistance to families and people of all ages so they can remain safe, healthy, and independent in their homes and communities. Their 135,000 caregivers serve in 14 states across the nation.
With this milestone, CDCN has taken a huge step in putting caregivers at the center of company success: eligible caregivers, alongside administrative employees, will now participate in a profit-sharing model that recognizes and honors their essential contributions.
CDCN partnered with Common Trust and Holland & Hart to set up a customized Employee Ownership Trust designed to support their company goals, including recognizing their caregivers as essential partners and sharing in the company’s success. This transition will also protect the CDCN’s mission to provide the utmost care and support to people in their homes and communities while providing long-term sustainability through this ownership model.
In a company press release about this exciting transition, CDCN CEO and President, Ben Bledsoe, shared, “By sharing ownership with the people who provide care every day, we are building a stronger company and a stronger future for the communities we serve.”
As part of the transition, CDCN is now Certified Employee-Owned, with more than 30% of the company dedicated to employee ownership.
“Common Trust’s mission has always been to help forward-thinking companies like CDCN protect their legacy, purpose, and people through employee ownership” said Zoe Schlag, CEO of Common Trust. “By establishing this EOT, CDCN has taken a pioneering step in the care industry to deepen their commitment to their caregivers and the support they deliver.”
CDCN’s transition to employee ownership is just another example of how Employee Ownership Trusts are rapidly gaining traction as a sustainable and successful employee ownership model for companies of all sizes to unlock the benefits of employee ownership. EOTs are a proven way to ensure your company, your people, and your values thrive for the long term.
And if you’re ready to follow in the footsteps of CDCN, we’d love to talk. Schedule a free advisory call with one of our experts today.
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Zoe leads our investment practice, and helps companies organize capital that doesn't compromise their values. She has worked for over a decade in impact investing, including with TechStars and Schmidt Futures, and sees Common Trust's work as a critical component to leaving the economy better than we found it.
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