Newly-formed hospice company secures $21M in funding, acquires 3 hospice companies

By Rebecca Ayers  – Digital Reporter, Dallas Business Journal Sep 26, 2019, 7:55am CDT

Dallas-based Three Oaks Hospice has acquired three hospice companies and has secured funding. 

Three Oaks Hospice, which was founded in May, acquired Total Hospice & Palliative Care, ABS Palliative and Hospice Care and Fellowship Hospice, increasing its referral network to more than 200 sources. 

“Grounded in a collective mission to listen, care and serve, we are committed to building a best-in-class hospice company with a culture focused on patient care, clinical quality and superior service,” said David Gasmire, Three Oaks Hospice chairman and operating advisor, in a prepared statement.

The hospice company has secured $21 million in private equity funding from Granite Growth Health Partners, Health Velocity Capital and Petra Capital Partners. 

“We believe we have once again invested in the best team in hospice, and we look forward to the expansion of hospice services in Texas,” said Mark Brooks, managing partner of Granite Growth. “We have all of the elements and experience needed from our past hospice successes to compete in the marketplace.”

The company currently has locations in Dallas, Fort Worth and San Antonio and plans to expand into other major Texas markets in coming months.

Three Oaks has five potential deals throughout Texas and in bordering states, according to the company. 

“I want us to complete the footprint in Texas as soon as possible,” said Andrea Bohannon, who leads Three Oaks as director, president and chief executive officer. “Then, we will begin the build out to other strategic underserved hospice markets outside of Texas.”

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