The Care Team, a hospice and home health provider based in Farmington Hills and a portfolio company of Revelstoke Capital Partners, announced it completed the acquisition of Crossroads Hospice, a hospice provider based in Houston. Terms of the transaction were not disclosed.
Revelstoke is a Denver-based private equity firm. This marks The Care Team’s third acquisition since partnering with the firm. Select shareholders of Crossroads will continue in a management and advisory role.
“We are thrilled to partner with the Crossroads team and expand our presence in Texas. Crossroads’ culture, quality of care and compliance standards are very well aligned with those of The Care Team, making this an exciting combination,” says Jason Laing, CEO and founder of The Care Team.
The Care Team offers full spectrum of home care services including nursing, therapy, and hospice care across Michigan’s lower peninsula along with Pennsylvania and now in Texas. Its team members address the physical, emotional, social, and spiritual needs while provided reprieve and comfort for patient’s families.
“We have enjoyed partnering with The Care Team in building its corporate infrastructure to support regional scale and look forward to adding density in Texas through this meaningful acquisition,” says Russ Cassella, managing partner at Revelstoke.
Revelstoke Capital Partners has approximately $4.3 billion of assets under management. Since the firm was founded in 2013, it has completed 134 acquisitions, which included 24 platform companies and 110 add-on acquisitions.
“We are very excited about the opportunity to work with the Crossroads team in providing high quality clinical care to patients in the greater Houston area,” says Jonny Miller, vice president at Revelstoke. “Key members of the seller group are continuing with TCT in a management capacity, further strengthening our regional leadership.”