Transaction overview
The Care Team, a hospice provider based in Farmington Hills, Michigan, acquired select hospice and palliative care operations from Traditions Health on December 4, 2025. The deal extends The Care Team’s presence into Illinois, Indiana, Ohio, and Virginia, complementing its existing service areas in Michigan, Pennsylvania, and parts of the Midwest. Revelstoke Capital Partners backs The Care Team as a growth-oriented private equity firm focused on healthcare services. While specific financial terms are not disclosed, the acquisition aims to bolster The Care Team’s capabilities and geographic reach in providing end-of-life care across multiple states.
Deal structure and financing
The transaction was facilitated by Lincoln International as the financial advisor for Revelstoke Capital Partners and The Care Team. Houlihan Lokey acted as the exclusive financial advisor to Traditions Health. Despite undisclosed deal value, the equity and debt composition of this acquisition is not specified in public disclosures. Legal counsel for the acquirer was provided by McGuireWoods LLP. No information about seller-retained equity stakes or lock-up agreements has been released publicly. Moreover, there are no indications regarding potential IPO plans as part of this transaction.
Strategic context
The Care Team’s rationale for acquiring Traditions Health aligns with its strategic objective to expand and strengthen its hospice and palliative care services in the Midwest and Mid-Atlantic regions. This move enhances The Care Team's market position by integrating experienced personnel from Traditions Health into its operational framework, thus catering better to increasing demand for end-of-life care as the population ages. For Revelstoke Capital Partners, this acquisition exemplifies their commitment to investing in healthcare companies that can benefit from scalable growth opportunities through strategic acquisitions.
Traditions Health, on the other hand, decided to divest certain assets due to a broader reorientation of its business strategy towards other key areas within home health and hospice care. By selling selected operations, Traditions Health aims to focus on core geographic markets where it intends to build a more robust service offering tailored to local needs.
Regulatory path
No specific regulatory hurdles have been mentioned concerning this acquisition as of December 4, 2025. Given the nature of healthcare mergers and acquisitions in multiple states, potential oversight might involve the Federal Trade Commission (FTC) and state-level health department reviews. However, details about antitrust filings under the Hart-Scott-Rodino Antitrust Improvements Act (HSR) or any required divestitures are currently unknown. As The Care Team expands its service areas across various states, regulatory scrutiny could focus on compliance with local healthcare regulations and potential overlaps in services within certain regions.