General Atlantic Closes $3 Billion Acquisition of Home-Care Provider Team Services Holding

General Atlantic, a global private equity firm, has acquired Team Services Holding, a provider of home-care services, for about $3 billion, including debt. The information comes from a source familiar with the matter. Team Services Holding operates in the home health and personal care sector, serving clients across various locations.

The acquisition was finalized recently, marking a significant investment in the home-care industry. General Atlantic, founded in 1980, manages over $84 billion in assets and focuses on growth equity and buyout opportunities in healthcare and other sectors. This deal expands its portfolio in healthcare services.

provides a range of home-care services, including skilled nursing, therapy, and personal assistance to individuals in their homes.

The company has been operating for several years, with a focus on underserved communities and aging populations. Its services address the increasing need for in-home care as alternatives to institutional settings. The home-care sector has seen steady growth due to demographic shifts, such as an aging population and preferences for home-based care over hospitals or nursing homes.

U.S. home health care market is projected to expand significantly in the coming years. This acquisition positions General Atlantic to capitalize on these trends.

The $3 billion valuation includes assumed debt, as reported by the source.

Financial terms beyond the total value were not disclosed. The transaction was handled through private negotiations, typical for private equity deals of this nature. Post-acquisition, General Atlantic plans to support Team Services Holding's expansion, though specific strategies have not been detailed publicly.