H.I.G. Capital to Acquire St. Croix Hospice

NEW YORK – October 19, 2020 H.I.G. Capital is pleased to announce that one of its affiliates has signed a definitive agreement to acquire St. Croix Hospice (“St. Croix” or the “Company”). The transaction will be completed through the H.I.G. Advantage fund. Terms were not disclosed.

Founded in 2008 and based in Oakdale, MN, St. Croix is a leading provider of hospice care across the Midwest 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.

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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.”

Triple Tree and Edgemont acted as financial advisors and Ropes & Gray LLP acted as legal counsel to H.I.G. on the transaction. Houlihan Lokey acted as financial advisor to Vistria, and Winston LLP acted as legal counsel to the Company and Vistria 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 H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $40 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused / value-added approach.

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
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Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.


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