NASHVILLE, Tennessee–July 20, 2006–CLP Healthcare Services Inc., (dba “Cloverleaf Partners”), a company focused on providing high-quality hospice and palliative care, announces today that it has acquired RTA Hospice Inc., (“RTA”), an Arizona-based hospice and palliative care provider. This is Cloverleaf Partners’ first acquisition in its strategy of building a leading national hospice and palliative care provider.
“The dedication and professionalism demonstrated by RTA’s team of care providers have given RTA a strong reputation for providing superior quality of care to patients and their families,” said Cloverleaf Partners’ chief executive officer, James A. Deal. “RTA is a clear leader in the markets that it serves, and we look forward to building on that success.”
Cloverleaf Partners was formed in 2006 through a partnership between Deal and Thoma Cressey Equity Partners, a leading private equity firm with more than 25 years of experience building industry leaders. Like other Thoma Cressey-led “buy-and-build” transactions, Cloverleaf Partners will leverage the strength of RTA as a platform to build a leading hospice and palliative care provider through operational improvements, organic growth and strategic acquisitions.
“Thoma Cressey recognizes the growing need for high-quality hospice care and formed Cloverleaf Partners with an exceptional management team to build an industry leader,” said Brian Cressey, managing partner for Thoma Cressey. “in RTA, we see a strong platform from which to execute our traditional buy-and-build strategy. We are confident that Cloverleaf Partners’ infrastructure and management talent can be leveraged to build a national foot-print.”
Deal, CEO of Cloverleaf PArtners, has more than 30 years of experience in the healthcare services industry. He is currently a member of the board of directors of AmSurg Corp. (Nasdaq:AMSG). Deal was previously chairman and CEO of INSPIRIS Inc., a leading frail elderly care management company, and he served as president, CEO and director of Center for Diagnostic Imaging Inc. From 1982 to 1998, Deal was with Healthways Inc. (Nasdaq:HWAY), where he was an executive vice president and cofounder of the company’s diabetes business, growing it into the nation’s first wide-scale disease management program.
Robert S. HOlder is senior vice president, operations, of Cloverleaf Partners. Holder has more than 20 years of healthcare experience, including approximately 10 years in hospice and palliative care. Most recently, Holder was vice president at Life Care Centers of America and responsible for hospice operations. In addition, Holder has held management positions with Odyssey Healthcare Inc. (Nasdaq:ODSY) and Wiregrass and Hospice USA.
RTA Hospice Inc. was established in 1991 to satisfy the need for hospice care in non-urban communities throughout Arizona. RTA is headquartered in Mesa, Ariz., and offers hospice and palliative care in Casa Grande, Lakeside (Show Low), Payson and Sedona. RTA also operates an institution pharmacy located in Phoenix that primarily serves hospice care providers.
About Cloverleaf Partners
Cloverleaf Partners was formed in 2006 through a partnership with Thoma Cressey Equity Partners and the experienced management team of James A. Deal, chief executive officer, and Robert. S. Holder, chief operating officer. Cloverleaf is focused on providing high-quality hospice and palliative care throughout the United States by partnering with or acquiring hospice care providers Cloverleaf Partners is headquartered in Nashville, Tenn.
About Thoma Cressey Equity Partners, Inc.
Thoma Cressey Equity Partners, a leading private equity investment firm with more than 25 years of experience in building successful companies, specializes in software healthcare, business services and consumer product industries. Headquartered in Chicago, the firm also has offices in San Francisco and Boston.
Recognized nationally for pioneering the “buy and build” strategy, Thoma Cressey identifies high-potential industry sectors to partner with successful platforms and management teams in building industry-leading companies through organic growth, operational improvements, and strategic acquisitions. Thoma Cressey currently manages approximately $2 billion in a services of private equity funds. For more information please visit www.thomacressey.com