The Care Team (TCT), a portfolio company of healthcare private equity firm Revelstoke Capital Partners, announced on December 14 that it completed the acquisition of 1st Care Home Health and Care Hospice. This transaction marks TCT’s fourth acquisition since partnering with Revelstoke in October 2019.
Winston & Strawn LLP acted as legal counsel to TCT. Select members of the 1st Care leadership team will continue in management roles with TCT. Terms of the deal were not disclosed.
1st Care Home Health, founded in 2012, and Care Hospice, founded in 2016, provide home health and hospice services to patients in the greater Indianapolis area and surrounding counties. They are based in Carmel, Indiana.
TCT offers a full spectrum of home care services including nursing services, therapy services and hospice care across Michigan’s lower peninsula. TCT’s hospice team provides specialized care in Michigan, Pennsylvania, Texas and Massachusetts that addresses the patient’s physical, emotional, social and spiritual needs.
According to the LevinPro HC database, this marks the 106th Home Health & Hospice transaction of 2022. This is a 30% decrease from last year when 152 deals were announced within the sector between January 1, 2021, and December 14, 2021.
