Norwest Mezzanine Partners Caps off 2012 with Sentinel Capital Partners’ Hospice Advantage Investment

January 07, 2013


Minneapolis, Minnesota – Norwest Mezzanine Partners (NMP), a leading middle market mezzanine investor, has invested subordinated debt and equity to support Sentinel Capital Partners’ recapitalization of Hospice Advantage, a hospice organization that provides end-of-life care, palliative treatment, personal care, and family support services, primarily to patients in their homes.

“Hospice Advantage fits nicely within our portfolio as our firm focuses on niche products and services and growing healthcare-related companies. Hospice Advantage is a terrific company led by a top-notch management team and is well-positioned for continued growth as a hospice leader within this growing segment of the healthcare industry,” stated Carter Balfour, a NMP partner. “In addition, this transaction marks the third time we’ve partnered with the Sentinel team on an investment, and we are excited for the opportunity.”

Headquartered in Michigan, Hospice Advantage was founded in 2004 to better serve the needs of terminally ill patients and currently operates 56 locations in 10 states throughout the Midwest, Southeast and South. Hospice Advantage has built a strong brand name and referral network complemented by a scalable back office operation that includes compliance and quality assurance, billing, human resources, facility development, and information technology. This infrastructure will support further growth in the Midwest and South.

“On behalf of the Sentinel team, we are very pleased to have NMP support us in this investment. NMP is a strong, proven investment partner, and their flexibility and support was valued throughout the entire transaction process,” stated Paul Murphy, a Sentinel Capital partner.

For more information about Hospice Advantage, visitwww.hospiceadvantage.net.