Pharos Capital Group-owned Charter Health Care Group has acquired San Antonio-based palliative care provider Generations Hospice Care.
Dallas and Nashville, Tennessee, August 11, 2021 – Pharos Capital Group, LLC, a private equity firm based in Dallas and Nashville, Tennessee, announced today that its post-acute care provider platform – Charter Health Care Group – has acquired Generations Hospice Care, Inc., in San Antonio, Texas.
Financial terms of the transaction were not disclosed. Sister agencies Generations Hospice of Austin and Generations Visiting Practitioners, LLC, will remain with the Generations family of corporations and are not part of the transaction.
Generations Hospice Care offers a variety of services, including pain and symptom management, medication and medical equipment, therapy, nursing care, dietary assistance, and emotional care and counseling for both patients and family members. Services are provided wherever the patient resides, including the home of the patient or a family member, or an assisted living, skilled nursing or other residential facility. Care is provided by an interdisciplinary team of doctors, nurses, hospice aides, social workers, spiritual counselors, and trained volunteers.
Charter Health Care is a provider of post-acute care services that offers a broad spectrum of programs for patients navigating the last years of life, including hospice, home health, complex care management and palliative care services. The company serves more than 5,000 patients in seven states. In April, Charter acquired The Providence Hospice, Inc., and The Providence Home Health Services, Inc., a Houston, Texas in-home health care provider.
“Palliative care has played an important role throughout the pandemic and we expect a continued and rising need for home health and end-of-life services,” said Bob Crants, Founding Partner and Chief Investment Officer of Pharos. “We are proud to support Charter’s mission of ensuring a comfortable patient experience while lowering the costs of care.”
Charter CEO Steve J. Larkin said, “We are pleased to add Generations Hospice to our portfolio as we continue to expand our footprint in Texas. Their philosophy of humanizing death and dying, along with their family-centered approach that tailors a plan specific to each patient, dovetails with Charter’s belief in providing compassionate, comprehensive care solutions for patients and families navigating the last years of life.”
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About Charter Health Care Group
Charter Health Care Group, founded in 2006, is an integrated healthcare provider offering hospice, home health, and complex care management services while helping patients and families navigate the post-acute care continuum. With over 5,000 patients and 16 locations in seven states, the company has established a deep presence in the Southern California market and has positioned itself as a trusted partner for hospital systems, managed care organizations, assisted living and skilled nursing facilities, medical groups, and community partners. For more information, visit http://www.charterhcg.com/.
About Pharos Capital Group
Based in Dallas and Nashville, Pharos Capital Group (www.pharosfunds.com) is a 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. 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.