The Care Team (TCT), a hospice and home health provider organization in Michigan and Texas, completed a previously announced acquisition of Arcadia Hospice of SEPA (Arcadia) in Allentown, Pennsylvania, which allowed it to enter Pennsylvania. Financial terms of the transaction were not disclosed. Select shareholders of Arcadia will continue in an advisory role with TCT.
Founded in 2019, Arcadia provides hospice services in southeastern Pennsylvania surrounding the greater Philadelphia metro area. TCT is a portfolio company of Revelstoke Capital Partners (Revelstoke), a Denver-based private equity firm. This transaction is TCT’s second acquisition since partnering with Revelstoke and its first outside of the state of Michigan. TCT intends to launch a geographic expansion to scale up nationwide.
TCT provides a full spectrum of home care services including nursing services, therapy services and hospice care across Michigan’s lower peninsula. TCT’s hospice team provides specialized care that addresses consumer’s physical, emotional, social and spiritual needs while providing reprieve and comfort for their families.
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare and related business services sectors. Since the firm’s inception in 2013, Revelstoke has completed 117 acquisitions, which includes 21 platform companies and 96 add-on acquisitions. It has approximately $3.8 billion of assets under management.
This was reported by The Care Team on November 17, 2021.
Contact information: Jason Laing, Chief Executive Officer and Founder, The Care Team, 30600 Northwestern Highway, Suite 245, Farmington Hills, MI 48334; (248) 957-1999; Fax: 888-990-0589; Website: https://www.tctcares.com/
Contact information: Russ Cassella, Managing Partner, Revelstoke Capital Partners, 260 N. Josephine St., Suite 500, Denver, CO 80206; (303) 953-3232; Website: https://www.revelstokecapital.com/