DENVER—Revelstoke Capital Partners (Revelstoke), a health care-focused private equity firm, announced that its portfolio company, The Care Team, has acquired select hospice and palliative care operations from Traditions Health, a Tennessee-based hospice, palliative and home health provider with operations in 16 states.
The Care Team, a hospice provider, acquired Traditions Health operations in Illinois, Indiana, Ohio and Virginia, complementing its existing locations in Michigan, Indiana and Pennsylvania.
"As the country's population ages, demand for high-quality hospice and palliative care continues to increase, and we are thrilled to support The Care Team's efforts to grow thoughtfully through this strategic acquisition," said Anthony Hayes, partner at Revelstoke. "We welcome Traditions Health's team members and will actively support the company's ongoing efforts to ensure increased access to these vital services for patients, their families and communities."
"We are excited to augment The Care Team with the complementary services and additional geographic reach of Traditions Health," said Dan Shoemaker, CEO of The Care Team. "This combination allows us to expand our hospice mission, reach and team to continue making a meaningful difference in our communities."
Concurrently with this transaction, additional Traditions Health locations and services will be acquired by other regional hospice and home health services providers.