Pharos Capital Group acquires Cedar Crest's Silver Linings Hospice Care – Albuquerque Business First – Albuquerque Business First

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An out-of-state private equity firm has added to its health care portfolio with the acquisition of a hospice facility in the East Mountains.
Charter Healthcare Group, a post-acute care provider of Pharos Capital Group, acquired Cedar Crest-based Silver Linings Hospice Center on Nov. 22, according to a news release. The terms of the deal weren’t disclosed. 
Charter Healthcare Group now serves more than 5,000 patients through 19 locations in eight states, according to the news release. Pharos Capital Group has its headquarters in Dallas, Texas, and Nashville, Tennessee.
“Through Silver Linings, Charter will now be able to provide services in Santa Fe, East Mountains and the greater Albuquerque area of New Mexico,” Pharos founding partner and CIO Bob Crants said in a statement. “We are proud to support Charter’s tradition of providing compassionate, comprehensive care solutions at lower costs for patients and families navigating the last years of life.”
A call to Silver Linings’ office confirmed that former CEO Michelle Bacharka had sold the business. The new ownership group could not be immediately reached for comment.
The Silver Linings facility is run by physicians and nurse practitioners and staffed with registered nurses, health aides, social workers, chaplains and volunteers. The team works with a patient’s physician to provide pain and symptom relief, personal care, emotional and social services support, spiritual and bereavement counseling, according to a news release.
“We welcome Silver Linings to the Charter family as we expand our services into New Mexico,” said Charter Healthcare CEO Steve Larkin in a statement. “We look forward to serving more patients and families in the area with the compassionate, innovative, and accessible health care services for which Charter is known.”
Charter provides post-acute services like hospice, palliative care, hospital-based care, skilled home health and private duty home care. The Dallas Business Journal reported Charter serves more than 5,000 patients across seven states as of September. At the time, Charter was on the heels of acquiring two other Texas-based hospice care facilities
Earlier this year, Texas-based Addus HomeCare Corp. acquired the three entities of Albuquerque health company Armada Skilled Homecare Services for $29 million
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