FARMINGTON HILLS, Mich., Nov. 17, 2021 /PRNewswire/ -- The Care Team ("TCT"), a prominent hospice and home health provider operating across the states of Michigan and Texas, announced today that it has completed the acquisition of Arcadia Hospice of SEPA ("Arcadia"), a hospice provider based in Allentown, Pennsylvania. Terms of the transaction were not disclosed.
TCT is a portfolio company of Revelstoke Capital Partners ("Revelstoke"), a Denver-based private equity firm. This transaction marks TCT's second acquisition since partnering with Revelstoke and its first outside of the state of Michigan, serving as a key foundation for geographic expansion and the development of national scale. Select shareholders of Arcadia will continue in an advisory role with TCT.
"The Care Team and Arcadia share similar cultures and a strong commitment to patient care, clinical excellence and compliance. We see a tremendous opportunity in combining the strengths and capabilities of both companies and expanding into Pennsylvania," said Jason Laing, CEO and founder of TCT.
"Since we invested in The Care Team, the company has made significant investments in the corporate infrastructure to build additional scale and improve patient care. We have enjoyed a strong partnership with TCT management and look forward to working with them on the expansion into southeastern Pennsylvania," said Russ Cassella, Managing Partner at Revelstoke.
"With the acquisition of Arcadia, The Care Team will have the ability to grow hospice and introduce its home health services in southeastern Pennsylvania. We are excited to partner with the Arcadia team to further expand access to high quality clinical care and develop deeper relationships with their strong referral partners," said Jonny Miller, Vice President at Revelstoke.
Winston & Strawn LLP acted as legal counsel to The Care Team.
About The Care Team
The Care Team offers a full spectrum of home care services including nursing services, therapy services and hospice care across Michigan's lower peninsula. The Company employs top industry professionals including physical therapists, skilled nurses, medical social workers, home health aides, and occupational and speech therapists. TCT's hospice team provides specialized care that addresses the patient's physical, emotional, social and spiritual needs while providing reprieve and comfort for patients' families. For more information visit www.tctcares.com.
Arcadia is a hospice provider based in Allentown, Pennsylvania. Founded in 2019, Arcadia provides hospice services to patients in southeastern Pennsylvania surrounding the greater Philadelphia metro area.
Revelstoke (www.revelstokecapital.com) is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare and related business services sectors. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy as it strives to build exceptional companies. Revelstoke is based in Denver, Colorado and has approximately $3.8 billion of assets under management, which includes uncalled capital commitments made to Revelstoke-managed vehicles. Since the firm's inception in 2013, Revelstoke has completed 117 acquisitions, which includes 21 platform companies and 96 add-on acquisitions.
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SOURCE Revelstoke Capital Partners; The Care Team