Pharos-backed Charter buys two Texas hospice providers

Charter Health Care Group, which is backed by Pharos Capital Group, has acquired Genesis HospiceCare in Athens, Texas, and Saints Hospice in Plano, Texas.

Charter Health Care Group, which is backed by Pharos Capital Group, has acquired Genesis HospiceCare in Athens, Texas, and Saints Hospice in Plano, Texas. No financial terms were disclosed.

PRESS RELEASE

Dallas, and Nashville, Tenn., August 30, 2021 – Pharos Capital Group, LLC (“Pharos”), a private equity firm based in Dallas and Nashville, announced that its post-acute care provider platform, Charter Health Care Group (“Charter”), has acquired Genesis HospiceCare in Athens, Texas, and Saints Hospice in Plano, Texas. Financial terms of the transaction were not disclosed.

“We are proud to support Charter’s mission of ensuring a comfortable patient experience while lowering the costs of care,” said Bob Crants, Founding Partner and Chief Investment Officer of Pharos. “Charter will team with Genesis and Saints to expand service offerings in North and East Texas and continue with its tradition of providing compassionate, comprehensive care solutions for patients and families navigating the last years of life.”

Founded in 1995, Genesis HospiceCare has provided high-quality hospice care to patients and families in the Athens, Texas, community for more than 25 years while Saints Hospice has served the Plano community for 15 years.

“Genesis HospiceCare and Saints Hospice have established themselves as quality providers of end-of-life care,” said Charter Healthcare CEO Steve Larkin. “We are fortunate to be able to welcome them into our company as we broaden our Texas service area. We look forward to serving more patients and families in the Dallas–Fort Worth metroplex and Upper East Texas with the compassionate, innovative, and accessible health care services that are Charter’s hallmark.”

Charter offers a broad spectrum of post-acute care services for patients navigating the last years of life, including hospice, palliative care, acute/hospital-based care, skilled home health and private duty home care. Charter’s expertise in complex care management reduces hospital admissions and emergency room visits by bridging gaps in care. The company serves more than 5,000 patients in seven states. The addition of Genesis and Saints brings the number of Charter locations to 18 and marks the company’s fourth program in Texas.

About Charter Health Care
Charter Healthcare is committed to delivering high-quality services that enhance the post-acute care continuum by providing compassionate, innovative and accessible healthcare solutions for patients and their families. Over more than a decade, Charter has earned its reputation as a premier full-spectrum care provider that helps patients navigate the last years of life with services including home health, complex care management, palliative care and hospice. Founded in Southern California, Charter Healthcare now serves more than 5,000 patients in seven states. For more information about Charter Healthcare, visit charterhcg.com.

About Pharos Capital Group
Based in Dallas and Nashville, Pharos Capital Group (www.pharosfunds.com) is physician-founded investment firm focused on growing healthcare companies that aim to lower the total cost of care, improve patient outcomes and expand access to care in underserved markets. Since inception, Pharos has invested in 54 companies and has over $1.2 billion of private equity assets under management as of June 30, 2021. Pharos typically invests $25-$50 million in rapidly growing middle market companies seeking later stage funding for internal growth, acquisitions, leveraged buyouts, management buyouts, or recapitalizations predominantly across healthcare sectors.