Revelstoke Capital Partners said Oct. 16 that it has invested in The Care Team. Financial terms weren’t announced. The Care Team, of Farmington Hills, Michigan, is a home health and hospice agency.
REVELSTOKE COMPLETES INVESTMENT IN THE CARE TEAM
Denver, CO – Revelstoke Capital Partners (“Revelstoke”), a Denver-based healthcare services private equity firm, and The Care Team (“TCT” or the “Company”), one of the largest home health and hospice agencies in the Great Lakes region, announced Revelstoke’s investment in TCT to support its growth objectives and continued focus on delivering the highest quality care.
The Care Team offers a full spectrum of home care services including nursing services, therapy services and hospice care across central and eastern Michigan. 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.
“This investment is the result of a multi-year outbound search in the home health and hospice industry for providers that can offer excellent outcomes for patients in the lowest cost-of-care setting. Our partnership with TCT, a leading home health and hospice agency that is well-positioned for growth and consolidation, achieves this objective,” said Russell Cassella, Managing Partner at Revelstoke.
“TCT’s management team has developed the infrastructure and capabilities needed to provide patients and families with exceptional and cost-efficient care. With consolidation in the industry expected to accelerate, we are seeking other leading agencies to partner with so we can further expand the Company’s reach and capabilities,” added Jonny Miller, Vice President at Revelstoke.
Founder and CEO Jason Laing will continue to serve as CEO and remain a significant shareholder in the Company. “Over the last four years, The Care Team has grown into a leading regional provider of home health and hospice care, serving patients across Michigan,” said Mr. Laing. “Partnering with Revelstoke will provide us with the expertise, capital and guidance needed to expand our presence in Michigan and enable our entry in new markets.”
Winston & Strawn LLP acted as legal counsel to Revelstoke. Howard & Howard LLP acted as legal counsel, and Greenwich Capital Group acted as a financial advisor, to The Care Team.
About The Care Team
The Care Team is a leading home health and hospice provider based in Farmington Hills, Michigan that is licensed to provide services throughout the state. TCT provides skilled care for homebound patients, as well as end-of-life care for older adults. With three locations across eastern Michigan, The Care Team offers instant access to comprehensive home health care, including physical therapy, occupational therapy, speech therapy, nursing, social workers, home health aides and bereavement.
Revelstoke 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 to build exceptional companies. Since the firm’s inception in mid-2013, Revelstoke has raised approximately $1.9 billion of equity and has completed 64 acquisitions, which includes 16 platform companies and 48 add-on acquisitions.