Crossroads Holding, a portfolio company of private equity company Revelstoke Capital Partners (Revelstoke), has completed its acquisition of EHC Medical Offices (EHC).
The transaction marks Revelstoke’s 50th acquisition since its founding in 2013. The transactions represent 13 platform companies and 37 add-on acquisitions, totalling over USD4 billion of enterprise value.
Revelstoke’s investments have focussed primarily in high growth healthcare services sub sectors, such as physical therapy, ophthalmology, home care, healthcare information technology, healthcare education, rural urgent care, and behavioural health. Revelstoke’s portfolio companies now employ over 30,000 employees, many of whom are direct care givers and healthcare providers. Revelstoke focuses on the three pillars of healthcare – partnering with management teams and entrepreneurs to build market leading companies with solutions to healthcare needs, delivering the highest value and best outcomes to patients, and lowering cost to payers.
“Our efforts to date are attributable to the team that we have built, which represents a broad range of operational, entrepreneurial and financial expertise that is brought together to provide the highest level of service to our companies and partners,” says Simon Bachleda, co-founder and Managing Partner of Revelstoke. “We look forward to continuing our mission of developing and growing market leading companies in the healthcare sector.”
Crossroads, based in Greenville, South Carolina, is a premier provider of medication assisted treatment services in the United States. Crossroads provides both methadone and suboxone medication assisted treatment through its outpatient programs. Since partnering with Revelstoke, Crossroads has expanded its number of clinics from 9 to 72 in an effort to deliver effective and affordable treatment for persons suffering from opioid use disorder.
EHC is located in Knoxville, TN and provides medication assisted treatment services through its team of highly trained and accredited healthcare providers.
“This acquisition marks Crossroads’ expansion into our 11th state,” says Dr Rupert McCormac, Founder and CEO of Crossroads. “As an entrepreneurial management team, leveraging Revelstoke’s resources and expertise allowed our physician leadership team to continue to focus on growth while maintaining the highest quality and efficacy of our clinics, fulfilling a critical need for our patients.”
