Minnesota-based St. Croix Hospice has entered the Illinois market through the acquisition of Hospice Care of America in the city of Rockford. Financial terms of the transaction were not disclosed.
St. Croix’s approximately 800 employees care for more than 2,200 patients daily out of 39 locations in seven Midwestern states. The organization is a portfolio company of the private equity firm H.I.G. Capital.
“Entering the Illinois marketplace with this location in Rockford is a natural extension of the services we currently offer in southern Wisconsin,” said Heath Bartness, CEO of St. Croix Hospice. “We welcome the opportunity to partner with an organization that shares our dedication to providing comfort and quality of life for patients at the end of life.”
St. Croix has been on a solid growth trajectory during 2020 and into this year. The hospice ringed in 2021 with the establishment of a de novo in Nebraska and followed up with a second in Missouri last month. The company expanded with seven new locations last year, including two de novos in Iowa and one in Wisconsin.
In March 2020, St. Croix acquired Serenity Care Hospice in Missouri for an undisclosed amount. The company expects further growth through 2021 through the addition of new locations as well as acquisitions.
H.I.G. Capital acquired St. Croix from PE firm the Vistria Group last year for an undisclosed amount in one of 2020’s most significant hospice deals. Minnesota-headquartered St. Croix has a substantial Midwestern footprint that extends across six states.
Hospice utilization in the Illinois market reached 50.3% among Medicare decedents during 2018, which is in line with the national average, according to the National Hospice & Palliative Care Organization. Utah led the nation with 60.5%.
“We respect and appreciate this team’s experience and connection to the community, both of which will be essential as we partner to serve even more local patients in need of hospice care,” Bartness said. “Rockford is an exciting addition to the St. Croix Hospice family from a geographic standpoint as we expand in the Midwest.”
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