M&A Deal Summary

Thomas H. Lee Partners and Leavitt Equity Partners Acquire Care Hospice

On October 21, 2020, private equity firms Thomas H. Lee Partners and Leavitt Equity Partners acquired healthcare services company Care Hospice from Martis Capital Managment

Acquisition Highlights
  • This is Thomas H. Lee Partners’ 6th and Leavitt Equity Partners’ 12th transaction in the Healthcare Services sector.
  • This is Thomas H. Lee Partners’ 65th and Leavitt Equity Partners’ 17th transaction in the United States.
  • This is Thomas H. Lee Partners’ 1st and Leavitt Equity Partners’ 1st transaction in Virginia.

M&A Deal Summary

Date 2020-10-21
Target Care Hospice
Sector Healthcare Services
Buyer(s) Thomas H. Lee Partners
Leavitt Equity Partners
Sellers(s) Martis Capital Managment
Deal Type Secondary Buyout

Target

Care Hospice

Charlottesville, Virginia, United States
Care Hospice is an operator of a Hospice that delivers the quality of care to its patients across a variety of settings, including homes, skilled nursing facilities, and assisted living facilities. Care Hospice was founded in 2008 and is based in Charlottesville, Virginia.

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Buyer(S) 2

Buyer

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1974
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. THL was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 76 of 90
Sector (Healthcare Services) 6 of 7
Type (Secondary Buyout) 26 of 32
State (Virginia) 1 of 1
Country (United States) 65 of 77
Year (2020) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-22 Adare Pharma Solutions

Lawrenceville, New Jersey, United States

Adare Pharma Solutions provides enhanced medicines, creating new possibilities for improved patient health. Adare Pharma Solutions has solved complex formulation, manufacturing, and commercialization challenges, resulting in transformational medicines that deliver value to all its stakeholders. The company has a global presence with R&D, manufacturing, and commercial operations in the Unites States, Europe, and Canada. Adare Pharma Solutions was founded in 2015 and is based in Lawrenceville, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-08 System One

Pittsburgh, Pennsylvania, United States

System One is a provider of managed staffing and technical outsourcing solutions to improve productivity, specializing in the energy, engineering, information technology, commercial and scientific sectors. System One is the sixth largest engineering staffing companies and the forty-second largest staffing company overall in the U.S. System One is based in Pittsburgh, Pennsylvania.

Sell -
Buyer
DESCRIPTION

Leavitt Equity Partners is the private equity arm of Leavitt Partners, a healthcare focused consulting firm. Leavitt looks to partner with and invest in growth-oriented healthcare services companies throughout the US. Leavitt Equity Partners was formed in 2014 and is headquartered in Salt Lake City, Utah.


DEAL STATS #
Overall 17 of 22
Sector (Healthcare Services) 12 of 16
Type (Secondary Buyout) 2 of 3
State (Virginia) 1 of 1
Country (United States) 17 of 22
Year (2020) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-30 NeuroPsychiatric Hospitals

South Bend, Indiana, United States

NeuroPsychiatric Hospitals specializes in providing care for patients with complex behavioral, neuropsychiatric, and medical needs. NeuroPsychiatric Hospitals utilizes an integrated healthcare model at each of its hospitals. NeuroPsychiatric Hospitals was founded in 2006 and is based in South Bend, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-07 Women s Care

Tampa, Florida, United States

Women's Care is a provider of high-quality general OB/GYN services and sub-specialty care across 71 outpatient locations in 11 counties throughout Florida. WCF has over 230 healthcare providers who provide care for more than 350,000 patients annually. WCF providers have privileges at 13 hospitals and are in-network with all major commercial payors. Women's Care was founded in 1998 and is based in Tampa, Florida.

Buy -

Seller(S) 1

DESCRIPTION

Martis Capital Management is a private equity firm focused exclusively on the North American middle-market healthcare industry. The Firm seeks founder-led companies in the services and outsourcing, information technology, consumer and wellness, and products and diagnostic sub-sectors. Martis considers buyout and growth equity opportunities with typical transactions between $25 and $100 million. Martis Capital Management is headquartered in San Francisco, California.


DEAL STATS #
Overall 7 of 10
Sector (Healthcare Services) 2 of 3
Type (Secondary Buyout) 1 of 1
State (Virginia) 1 of 2
Country (United States) 7 of 10
Year (2020) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-25 Credible Behavioral Health

Rockville, Maryland, United States

Credible Behavioral Health is a provider of single, integrated platform and a differentiated feature set, including fully integrated clinical, scheduling, primary care, ePrescribing, inpatient, mobile, and billing modules. Credible Behavioral Health was founded in 2000 and is based in Rockville, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-19 DCN Dx

Carlsbad, California, United States

DCN Dx specializes in contract development of rapid point of care tests. DCN Dx offers a variety of services and products that assist our clients in the design and development of user-centric, high performing diagnostic devices. DCN Dx was founded in 2005 and is based in Carlsbad, California.

Buy -