Curo Health Acquires New Century Hospice

New Century Hospice (“the Company”), a premier regional hospice and portfolio company of Scale Venture Partners and Petra Capital Partners, has been acquired by Curo Health Services, a nationally recognized hospice provider and a portfolio company of Thomas H. Lee Partners. The acquisition of New Century Hospice marks Curo’s entry into two new states (Colorado and Oklahoma) and expands the Company’s patient base to ~8,800 patients across 20 states.

Cain Brothers served as New Century Hospice’s exclusive financial advisor in connection with the sale. Cain Brothers ran a highly competitive and targeted sale process to identify the optimal partner for New Century Hospice and negotiated the key terms of the transaction.

Founded in 2006, Dallas, TX-based New Century Hospice provides best-in-class hospice care to ~1,600 patients via a network of 19 branches in six states (Colorado, Georgia, Louisiana, Oklahoma, Texas and Virginia). The Company has established a deep presence in the Texas market, and has demonstrated successful geographic expansion through a combination of de novo growth and M&A having completed seven strategic tuck-in acquisitions since a majority investment by Scale Venture Partners and Petra Capital Partners in September 2010.

Founded in 2010, Mooresville, North Carolina-based Curo Health Services is one of the nation’s largest providers of hospice and palliative care services serving ~7,200 patients via 150+ locations spanning 18 states. Thomas H. Lee Partners, a Boston-based private equity firm, acquired Curo Health Services in February 2015.