Health: Where is the Action for Investors in Healthcare?

The Story:

A savvy private equity firm with a healthcare industry focus, Pharos Capital Group, has made some deals in recent weeks that illustrate what the ‘smart money’ thinks are the promising fields for future growth within that industry.


Pharos has acquired cataract surgical service provider Vantage Outsourcing. But, more telling, Pharos indirectly through its Charter Health Care Group has acquired a total of five hospice and home care providers — three in Texas, two in Nebraska.

Separately, Pharos, a middle-market private equity firm with dual headquarters in Dallas and Nashville, recently acquired THEMA Health Services, a Medicare-certified provider of hospice, skilled home health and palliative care services across the state of Arizona.

In Pill Form:

The action, in the eyes of many investors, is in late life and end-of-life care, both in institutions designed for such care (hospices) and in people’s homes. People are living longer than they used to. In the U.S., life expectancy increased by more than 8 years in the half century period ending in 2019.

But a longer life can mean a longer period of frialty, a longer period of needing assistance. This includes everything from pain and symptom management to dietary assistance, and to counseling for both patients and their family members.

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