Clearview Capital’s St. Croix buys certain assets of Saint Jude

St. Croix Hospice LLC, a portfolio company of Clearview Capital, has acquired certain assets of Saint Jude Healthcare LLC and its subsidiaries. No financial terms were disclosed. Based in Urbandale, Iowa, Saint Jude is a hospice services provider.


Old Greenwich, CT, May 28, 2015 — Clearview Capital Fund III, LP (“Fund III”) announced today that its portfolio company, St. Croix Hospice, LLC (“St. Croix” or the “Company”), has acquired certain assets of Saint Jude Healthcare, LLC and its subsidiaries (“Saint Jude”).

Headquartered in Urbandale, Iowa, Saint Jude provides hospice services from 12 offices across four states: Wisconsin, Iowa, Kansas and Nebraska. Heath Bartness, CEO of St. Croix, commented, “The Saint Jude acquisition is highly complementary, solidifying St. Croix’s presence in the Wisconsin and Iowa markets, while expanding our footprint into two new states, Kansas and Nebraska. We are excited about the opportunity this acquisition presents to continue to offer the highest quality of care to our entire patient base throughout the greater Midwest region, and we will continue to aggressively seek out additional acquisitions within our footprint.”

The transaction marks St. Croix’s first acquisition under Fund III’s ownership. “The hospice sector continues to benefit from significant tailwinds, including an aging nationwide population and rising utilization of the hospice benefit by individuals facing a life-limiting illness,” stated Calvin Neider, co-Managing Partner of Clearview Capital. “The sector is highly fragmented with only a handful of pure play hospice operators of scale, and St. Croix will look to continue to play a significant role in future consolidation.”

Based in Oakdale, Minnesota, St. Croix is a Medicare-certified, CHAP-accredited provider of hospice services throughout the Midwest region. Led by an experienced management team, the Company operates across five states: Minnesota, Wisconsin, Iowa, Nebraska and Kansas. The Company’s commitment to clinical excellence and a robust compliance function has firmly established St. Croix as one of the premier providers of hospice services throughout the Midwest.

Clearview Capital’s other holdings include Advanced Medical Personnel Services, Inc., a provider of nation-wide healthcare staffing solutions; Xcellence, Inc. d.b.a. Xact Data Discovery, a provider of discovery and data management services; Northwest Cosmetic Laboratories, LLC, a formulator and manufacturer of prestige skin care products; Novik, Inc., an innovator, manufacturer and distributor of polymer building products; QC Supply, LLC, a wholesale distributor to the swine and poultry markets; GCR, Inc., a professional services firm delivering consulting services and technology solutions to governmental and commercial clients; Child Health Holdings, Inc. d.b.a. Pediatric Health Choice, the country’s largest provider of prescribed pediatric extended care (“PPEC”) centers for medically complex children; Pyramid Healthcare, Inc., a provider of substance abuse and mental health treatment programs for adults and adolescents; The Results Companies, LLC, a provider of customized inbound and outbound customer support services and management solutions; QualSpec Group (f.k.a. All Tech IESCO), a provider of mechanical integrity inspection and non-destructive examination services for the refining, petrochemical, power generation and other industries; and Active Day/Senior Care, Inc., the country’s largest operator of adult day care centers.