Pharos Adds Two Hospices to Platform

Charter Health Care Group, a post-acute care provider platform owned by Pharos Capital Group since October 2018, has acquired St. Luke’s Home Hospice and Arizona Select Hospice from VeraCare Hospice.

Las Vegas-based St. Luke’s and Tempe-based Arizona Select both provide end-of-life hospice care along with palliative care services for adult patients with life-limiting illnesses.

Charter Health Care is a post-acute care provider of hospice, home health, and transitional care services. The company has more than eight Southern California locations across San Bernardino, Riverside, Los Angeles, Ventura and Orange counties and maintains partnerships with hospital systems, managed care organizations, assisted living facilities, nursing facilities, and medical groups. Charter, led by CEO Steve Larkin, was founded in 2006 and is headquartered near Los Angeles in Rancho Cucamonga, California.

“End-of-life and home health services are increasingly important to patient care across the country, and we are excited to be expanding our post-acute care platform into new geographic areas,” said Bob Crants, founding partner and chief investment officer of Pharos. “With its focus on ensuring a comfortable patient experience while lowering the costs of care, Charter has created a strong presence in Southern California and is now ready to build out its service line in additional markets.”

Dallas and Nashville-based Pharos Capital Group invests from $25 million to $50 million in middle-market companies seeking later-stage funding for internal growth, acquisitions, leveraged buyouts, management buyouts, or recapitalizations predominantly across healthcare sectors.

© 2020 Private Equity Professional | March 18, 2020

Print Friendly, PDF & Email