WE ARE PROUD OF THE WORK OUR TEAM HAS DONE TO GROW ST. CROIX OVER THESE LAST THREE YEARS. THESE ACCOMPLISHMENTS HAVE ENABLED THE COMPANY TO PROVIDE SUPERIOR CARE OVER A LARGER GEOGRAPHIC FOOTPRINT AND CREATED VALUE FOR INDIVIDUALS, FAMILIES AND THE BROADER HEALTHCARE SYSTEM.
The Vistria Group, a Chicago-based investment firm focusing on the healthcare, education and financial services sector, today announced the signing of a definitive agreement to sell St. Croix Hospice to an affiliate of H.I.G. Capital. Terms were not disclosed.
Founded in 2008 and based in Oakdale, MN, St. Croix is a leading provider of hospice care across the Midwestern United States, serving an area that covers six contiguous states. St. Croix delivers care in accordance with its mission of offering both hospice and a broader network of concurrent comfort and support services that are tailored to patients’ and their family’s individual needs and circumstances.
“We are delighted to partner with the H.I.G. team as we continue on St. Croix’s journey to provide high quality end-of-life care and advocacy to patients, their families and their caregivers. Like our last partners at Vistria, H.I.G. shares our vision of providing compassionate, comprehensive care to individuals with terminal illnesses,” said Heath Bartness, Founder and CEO of St. Croix.
“We are proud of the work our team has done to grow St. Croix over these last three years. These accomplishments have enabled the company to provide superior care over a larger geographic footprint and created value for individuals, families and the broader healthcare system,” said David Schuppan, Senior Partner at Vistria.
Alok Sanghvi, a Managing Director at H.I.G. Capital added, “Over the years, as society has more openly and honestly talked about end-of-life care, we have seen more individuals choosing hospice when faced with a terminal diagnosis, and more families reporting that hospice helped their loved ones pass gracefully. We’re honored to be partnering with Heath and the St. Croix team to continue to support their important work of providing compassionate hospice services.”
Houlihan Lokey and Cain Brothers acted as financial advisor to Vistria, and Winston LLP acted as legal counsel to St. Croix and Vistria on the transaction. Triple Tree and Edgemont acted as financial advisors and Ropes & Gray LLP acted as legal counsel to H.I.G. on the transaction.
About St. Croix Hospice
St. Croix is a leading provider of hospice services across the midwestern United States. Founded in 2008 and based in Oakdale, Minnesota, the Company delivers both hospice and a broader network of concurrent comfort and support services that are tailored to patients’ and their family’s individual needs and circumstances.
About The Vistria Group
The Vistria Group is a Chicago-based private investment firm focused on investing in middle market companies in the healthcare, education, and financial services sectors. Vistria’s team is comprised of highly experienced operating partners and private equity executives with proven track records of working with management teams in building innovative, market-leading companies. For more information, please visit vistria.com.