Summit Partners Backs Hospice Care Company

Heart to Heart Hospice, a 10-year-old, Plano, Texas-based hospice care company, has received a minority investment from Boston-based Summit Partners, the growth equity firm. Terms of the deal aren’t being disclosed.

PRESS RELEASE:

Heart to Heart Hospice, a leading provider of hospice care in Texas, has received a minority investment from Summit Partners, a global growth equity firm. Heart to Heart Hospice will use the investment to continue its mission of delivering quality palliative care to those in need of end-of-life services.

Founded in 2003, Heart to Heart Hospice delivers individualized care in patients’ homes and also provides care for patients in nursing homes, assisted living facilities, hospitals and other residential facilities. Heart to Heart Hospice currently employs over 600 people across its care team staff of physicians, medical directors, skilled nurses, hospice aides, social workers, chaplains, bereavement coordinators, specialized therapists and dieticians.

“Heart to Heart Hospice was founded to provide a compassionate and patient-centered approach to medical care and supportive services at the end-of-life for patients and their families,” said Kelly Mitchell, Founder and CEO of the company. “Unparalleled service and personalized attention are the fundamental beliefs at the core of Heart to Heart Hospice. We have developed a strong relationship with Summit Partners over the years, and they will play an important role in the continued success and growth of Heart to Heart Hospice.”

Added Bill Thurman, the company’s President and COO, “We were in a position where we didn’t need to raise capital. Rather, we chose to do so in order to support several growth initiatives that will allow us to bring hospice care to a greater number of people.”

“Summit Partners has been making equity investments in rapidly growing, market-leading healthcare companies for nearly 30 years,” said Mark deLaar, a Managing Director with Summit, who will join the Heart to Heart Hospice Board of Directors.

“We’re very impressed with the exceptional care that Heart to Heart Hospice delivers to its patients and their families, and we are pleased to partner with them,” added Jesse Lane, a Vice President with Summit Partners who will also join the Board.

About Heart to Heart Hospice
Founded in 2003, Heart to Heart Hospice is a leading provider of hospice care in Texas. Headquartered in Plano, Texas, the company currently provides services to approximately 1,200 patients in 10 locations across 88 counties in the state. Hospice care is a benefit afforded to terminally-ill patients with life-limiting illness. These illnesses include, but are not limited to, cancer, heart disease, stroke, lung disease, kidney disease, liver disease, ALS, Alzheimer’s disease, dementia, Parkinson’s disease and AIDS. For more information, please visit www.hearttohearthospice.com.

About Summit Partners
Summit Partners is a growth equity firm that invests in rapidly growing companies. Founded in 1984, Summit has raised nearly $15 billion in capital and provides equity and credit for growth, recapitalizations, and management buyouts. Summit has invested in more than 365 companies globally in technology, healthcare and other growth industries. These companies have completed 130 public offerings, and more than 135 have been acquired through strategic mergers and sales. Summit Partners has offices in Boston, Menlo Park, London and Mumbai. For more information, please visit www.summitpartners.com.

In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Services Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.