Pharos Capital Group LLC, a private equity firm based in Dallas and Nashville, has, through its post-acute care provider platform, Charter Health Care Group, acquired The Providence Hospice Inc. and The Providence Home Health Services Inc., a Houston, TX in-home health care provider.
“Even before the onset of COVID-19, the demand for home health and end-of-life services had seen a dramatic upswing, and such services are now increasingly seen as a mainstream component of high-quality patient care,” said Bob Crants, founding partner and chief investment officer of Pharos. “We are proud to support Charter’s expansion into Houston as well as its mission of ensuring a comfortable patient experience while lowering the cost of care.”
Steve J. Larkin, Charter’s CEO, said, “We are pleased to add Providence to our growing portfolio and expand our high-quality, post-acute care services to the Houston area. Like the other companies we have brought under our umbrella, Providence shares our culture of providing compassionate, comprehensive care solutions for patients and families navigating the final years of life. We look forward to working with their team to provide full-spectrum care solutions, supporting patients with complex care needs as well as their caregivers in the communities where they work and live.”
“Charter’s vision for caring for patients in the post-acute space aligns well with Providence’s mission,” said Gary Stansbury Jr., owner of Providence. “I feel confident that Charter will bring a much needed continuum of care to the Houston market, while continuing to serve our existing patients and their families with the highest quality of care.