Farmington Hills, MI /PRNewswire/ - The Care Team ("TCT"), a prominent hospice and home health provider in central and eastern Michigan, announced today that it has completed the acquisition of InTeliCare Home Health and Hospice ("ITC"). TCT is a portfolio company of Revelstoke Capital Partners ("Revelstoke"), a Denver-based private equity firm. This transaction marks TCT's first acquisition since partnering with Revelstoke and serves as a key building block for positioning the company as one of the leading home health and hospice providers in the Great Lakes region. The previous owners of InTeliCare, Irene Tuttle and Todd Josephson, will continue in an advisory role with TCT.
"The Care Team and InTeliCare share similar cultures and a strong commitment to patient care, clinical excellence and compliance. We see a tremendous opportunity to combine the strengths and capabilities of both companies," said Jason Laing, CEO and founder of TCT.
"Since we invested in The Care Team in October 2019, the company has made significant investments in the corporate infrastructure to build additional scale and improve patient care. We have enjoyed a strong partnership with The Care Team management and look forward to working with them on this transformative acquisition," said Russ Cassella, Managing Partner at Revelstoke.
"With the acquisition of InTeliCare, The Care Team will have the ability to treat patients across the entire lower peninsula of Michigan, which will allow us to be better partners to our payor and referral relationships," 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 home care services including nursing services, therapy services and hospice care across central and eastern Michigan. The Company employs top industry professionals including physical therapists, skilled nurses, medical social workers, home health aides, and occupational and speech therapists. TCT's hospice team provides specialized care that addresses the patient's physical, emotional, social and spiritual needs while providing reprieve and comfort for patients' families.
InTeliCare is a leading home health and hospice provider in the northern half of Michigan's lower peninsula. Established in 2013, InTeliCare provides home health and hospice services to hundreds of patients through their offices in Standish, Gaylord, and Traverse City.
Revelstoke 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 $2.5 billion of assets under management. Since the firm's inception in 2013, Revelstoke has completed 78 acquisitions, which includes 18 platform companies and 60 add-on acquisitions.