HCAP Partners, a California-based private equity firm and impact investor, exited its investment in Mission Healthcare, a home health and hospice services provider headquartered in San Diego.
The Vistria Group, a Chicago-based investment firm focusing on the healthcare, education and financial services sectors, invested in Mission Healthcare to support its continued growth in Southern California and other markets. Terms of the investment were not disclosed.
Founded in 2009 by a team of clinicians, Mission Healthcare provides home-based care for patients across Southern California.
“With HCAP Partners’ support, Mission Healthcare was in a great position to navigate major changes in the industry related to Medicare reimbursement and COVID-19. The flexibility HCAP provided gave us strong momentum to capitalize on changing market dynamics and pursue employee growth and development, which aligned directly with HCAP’s Gainful Jobs Approach,” Paul Ver Hoeve II, CEO of Mission, said.
Post-transaction, HCAP Partners will participate in the creation and funding of a benevolent fund to assist employees who experience an unexpected financial hardship. This fund will provide short-term financial assistance for events such as the loss of a primary source of family income, family crises and medical expenses exceeding insurance coverage.
“We are extremely pleased with Mission Healthcare’s extensive accomplishments since our initial investment. The company not only exhibited stellar growth but improved its quality of care and became a top workplace in San Diego during our investment holding period. The company’s performance exceeded our expectations and we are proud to support the creation and funding of an employee benevolent fund, which exemplifies our shared job quality goals,” Nicolas Lopez, principal at HCAP Partners, said.
HCAP Partners was founded in 2000 and is a provider of mezzanine debt and private equity for underserved, lower-middle market companies throughout California and the western United States.
