General Atlantic has completed the acquisition of Team Services Holding for approximately $3bn, including debt, according to sources cited by Bloomberg.

The firm agreed to acquire the business from Alpine Investors earlier this year, with the transaction closing last week at a valuation of around 10x EBITDA.

The deal also highlights sustained investor appetite for healthcare services providers, even as valuations for technology-exposed healthcare companies face pressure amid concerns around artificial intelligence disruption.

Team Services supports in-home care arrangements, enabling seniors and individuals with long-term disabilities to receive care from providers of their choice, while managing administrative and back-office functions.

For General Atlantic, the acquisition represents a strategic move into a resilient segment of the healthcare market, characterised by stable demand and demographic tailwinds.

The transaction also reflects broader deal activity across the sector. Recent buyouts, including the take-private of Enhabit and the acquisition of Select Medical.

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