Aging & Diverse Home Healthcare Services, a Black-owned business based in Philadelphia, has announced a $250,000 investment from Exelon Corp’s Racial Equity Capital Fund (RECF).

In partnership with the United Bank of Philadelphia, the funding will help the health care company provide services to seniors with disabilities and assist them in staying in their homes as long as possible instead of care facilities, according to the Philly Tribune.

“One of the things that happens with the aging population is that as they get older, a lot of their friends and family members start dying off,” Theresa Williams, co-founder of Aging & Diverse Home Healthcare Services, told the Philadelphia Tribune. “A lot of their offspring are in other cities, sometimes in other countries. They are left alone, and that creates a lot of psychological problems for them.”

Patricia McKinley and Theresa Williams, co-founders of the company, said they plan to expand its services to people who suffer from anxiety and depression using the investment. They also plan to use the money to secure the necessary certifications to expand their services.

“…One of the things that we are doing is we are going to be providing skilled care services for people in the community through Medicare,” Williams told the Philadelphia Tribune. “We would also like to increase awareness of what’s available for depression and anxiety.”

Williams added the company intends to grow into skilled nursing care, which will include, among other things, wound treatment, occupational and physical therapy, blood draws, injections, and health monitoring, according to the Philadelphia Tribune.

“Broadening our capabilities will not only set us apart from other agencies, but also enables us to serve more patients and continue to grow our business,” Williams told the Philadelphia Tribune.

Williams and Patricia McKinley established Aging & Diverse Home Healthcare Services in 1997 by combining their backgrounds in nursing and finance.

Exelon and RockCreek Group, one of the biggest diverse-owned global investment companies, announced the RECF in 2022. RockCreek, a Washington, D.C.-based company, has made over $8.5 billion in investments in various companies over the last 20 years, according to the Philadelphia Tribune.

Exelon is the parent company of Philadelphia Electric Co., the largest electric and natural gas company in the state.