The Care Team Secures New Private Equity Funding to Expand Home Health and Hospice Care Services

On October 23, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that healthcare company The Care Team (TCT) announced the completion of a new round of private equity financing, with Revelstoke Capital Partners (Revelstoke) as the investor.

It is reported that TCT will use the funds from this round of financing to expand its scale and enhance the clinical care capabilities of its professional team.

TCT, established in 2015 and headquartered in Flint, Michigan, is a leading provider of home care and hospice services. The organization is dedicated to delivering professional nursing care to patients in their homes and has expanded its operations to other regions across Michigan. TCT offers comprehensive home care services throughout central and eastern Michigan, including personal care, therapeutic services, and hospice care.

TCT has recruited top-tier healthcare professionals, including physical therapists, registered nurses, medical social workers, home health aides, and speech-language pathologists. The company’s hospice care team is dedicated to providing patients with a comfortable living environment and professional nursing services that address their physical, emotional, social, and spiritual needs.

Home care refers to the provision of therapeutic and nursing services by healthcare institutions or professionals in patients’ homes. The recipients include acute and chronic patients of all ages, as well as those at the end of life. Home care services encompass organizing the patient’s living environment, enhancing psychological support, and promoting physical and mental well-being to prevent complications and facilitate recovery. Hospice care refers to the provision of compassionate care, along with appropriate medical and nursing services, to patients with a life expectancy of less than six months, aimed at alleviating disease symptoms.

Russell Cassella, Managing Partner at Revelstoke, stated, “This investment drives the development of the home care and hospice industries, enabling relevant organizations to deliver high-quality services to patients at lower care costs.”

Jonny Miller, Vice President of Revelstoke, stated, “TCT is able to provide cost-effective care services to patients and their families. With the rapid development of the industry, we hope to collaborate with other leading healthcare providers to further expand the company’s business scope.”

Jason Laing, Founder and CEO of TCT, stated, “Over the past four years, TCT has grown into a leading regional provider of home care and hospice services, delivering high-quality care to patients across Michigan. Revelstoke has provided us with financial support and strategic guidance, helping TCT expand its operations in Michigan and enter new markets.”

Revelstoke, a private equity firm founded in 2013 and headquartered in Denver, United States, is dedicated to investing in the healthcare and healthcare-related services sectors. Since its inception, Revelstoke has completed 64 acquisitions and raised approximately $1.9 billion in capital.

(Compiled by: Xu Xiaoxue)