CIT arranges funding for hospice provider

CIT served as joint lead arranger for the financing, which Hospice Compassus used to acquire Life Choice Hospice in a recapitalization sponsored by Formation Capital and Audax Group. The deal sees the company operating in 90 locations in 25 states.

William Douglass, group head and managing director of CIT Corporate Finance, Healthcare (pictured above), said: “This transaction underscores our industry expertise in the large and growing home health and hospice sector, a $17 billion market that has grown in excess of 9% annually since 2006.”

Will Duke, managing director of CIT Corporate Finance, Healthcare, added: “While the hospice sector continues to be highly fragmented, Hospice Compassus has grown to become a dominant provider. We’re pleased to support their strategic growth objectives as the industry continues to consolidate in coming years.”

“The combination of Hospice Compassus and Life Choice creates a leading hospice platform with a national scope,” said Jim Deal, CEO of Hospice Compassus. “CIT has been a financing partner since our inception in 2006, supporting our efforts to grow our organization.”