The Care Team, which is backed by Revelstoke Capital Partners, has acquired Houston-based Crossroads Hospice, a hospice provider. No financial terms were disclosed. Winston & Strawn LLP acted as legal counsel to TCT on the deal.
PRESS RELEASE
FARMINGTON HILLS, MI, January 13, 2022 – The Care Team (“TCT”), a prominent hospice and home health provider operating across Michigan, Pennsylvania and Texas, announced today that it completed the acquisition of Crossroads Hospice (“Crossroads”), a hospice provider based in Houston, Texas. 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 third acquisition since partnering with Revelstoke. Select shareholders of Crossroads will continue in a management and advisory role with TCT.
“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,” said Jason Laing, CEO and founder of TCT.
“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,” said Russ Cassella, Managing Partner at Revelstoke.
“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. Key members of the seller group are continuing with TCT in a management capacity, further strengthening our regional leadership,” 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 in Michigan, Pennsylvania and Texas 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.
About Crossroads
Crossroads is a hospice provider based in Houston, Texas. Founded in 2018, Crossroads provides hospice services to patients in the greater Houston area and surrounding counties.
About Revelstoke
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 $4.3 billion of assets under management. Since the firm’s inception in 2013, Revelstoke has completed 134 acquisitions, which includes 24 platform companies and 110 add-on acquisitions.
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