Revelstoke's The Care Team Acquires 1st Care Home Health and Care Hospice

FARMINGTON HILLS, Mich., Dec. 14, 2022 /PRNewswire/ -- The Care Team ("TCT"), a hospice and home health provider operating across Michigan, Pennsylvania, Texas, and Massachusetts, announced today that it completed the acquisition of 1^st Care Home Health and Care Hospice (collectively, "1^st Care"), regional home health and hospice providers based in Carmel, Indiana. 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 fourth acquisition since partnering with Revelstoke. Select members of the 1^st Care leadership team will continue in management roles with TCT.

"The Care Team and 1^st Care share similar cultures and a strong commitment to quality patient care. We see a tremendous growth opportunity by expanding into Indiana and are excited to partner with organizations focused on clinical quality and patient experience," said Dan Shoemaker, CEO of TCT.

"1^st Care has made great strides over the years, and we are thrilled to be working with The Care Team to support our goal of accelerating growth while maintaining a high level of service to our communities and employees," said Hari Nagireddy, Founder and CEO of 1^st Care.

"Since we invested in The Care Team, the company has invested significantly in its corporate infrastructure to support additional scale and expansion into new states. We have enjoyed a strong partnership with TCT management and look forward to working with the team on its expansion into a new state," said Russ Cassella, Managing Partner at Revelstoke.

"We are very excited about the opportunity to work with the 1^st Care team in providing high quality clinical care to patients in central Indiana. Key members of the seller group are continuing with TCT in a management capacity, which we believe will serve as the foundation of a strong regional leadership team necessary for success in a new market," 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 hospice care and home health services. TCT's hospice team provides specialized care in Michigan, Pennsylvania, Texas, and Massachusetts that addresses the patient's physical, emotional, social, and spiritual needs while providing reprieve and comfort for patients' families. TCT Home Health employs experienced industry professionals, including physical therapists, skilled nurses, medical social workers, home health aides, and occupational and speech therapists. For more information, visit www.tctcares.com.

About 1^st Care

1^st Care Home Health, founded in 2012, and Care Hospice, founded in 2016, are based in Carmel, Indiana, and provide home health and hospice services to patients in the greater Indianapolis 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 $5.3 billion of assets under management. Since the firm's inception in 2013, Revelstoke has completed 173 acquisitions, which includes 26 platform companies and 147 add-on acquisitions.

Contact:
Caroline Luz
Lambert
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SOURCE Revelstoke Capital Partners