Why We Invested in Capstone Hospice
When we first spent time with Capstone Hospice, it was clear we were getting to know a special organization. We seek out healthcare businesses that provide essential services, deliver meaningful impact and are led by people deeply committed to their mission. Capstone embodies this focus.
Founded in 2015, Capstone has built a strong reputation across the Atlanta metropolitan area for providing compassionate, high‑quality hospice and palliative care. The company primarily serves patients in their homes, as well as in assisted living facilities and nursing homes, ensuring individuals receive care in their preferred setting.
“Hospice providers play a critical role in supporting patients and families when it matters most,” said Chase Culbertson, Principal. “Capstone has established itself as a trusted provider in the Atlanta market with an excellent reputation, a strong culture, and a clear commitment to clinical quality. We’re excited to support their next phase of growth.”
A Founder‑Led Organization with Deep Roots
The company was founded by Hugh Henderson, a Georgia native who began his hospice career in 1992 as a social worker and counselor in Atlanta. Over more than three decades, Hugh has held leadership roles across regional and national hospice organizations. Hugh continues to lead Capstone as CEO following our majority investment, partnering with 5CP to scale the business while preserving the culture and clinical standards he has built over the past decade.
In speaking with Hugh, his dedication to both patients and employees was evident.
“For the past decade, Capstone has been committed to providing care that brings comfort, dignity and peace to patients and families,” Hugh shared with us. “As we thought about our future, it was important to find a partner who understood not only our growth potential, but also the mission and people that define Capstone. 5CP stood out because of its purpose-driven approach and clear appreciation for the intangibles that matter most in our business.”
Why Capstone
Capstone fits squarely within our healthcare investment thesis: essential services delivered by mission-driven operators in fragmented regional markets. Hospice in particular exhibits the structural tailwinds we look for including durable demand, demographic momentum, and a fragmented provider landscape where well-run platforms can scale thoughtfully.
This partnership comes at a time when an aging population and a growing preference for home‑based end‑of‑life care are driving sustained demand for high‑quality hospice services. In Georgia specifically, population growth and a strong regional healthcare infrastructure position Capstone well for meaningful expansion within the state and into neighboring counties.
“Hugh and the Capstone team have built something truly special,” said Bruce Hampton, Managing Partner. “Their values‑based approach to care reflects the kind of mission alignment we look for, and we believe it provides a strong foundation for thoughtful, long‑term growth.”
Looking Ahead
With more than 150 employees, 19 licensed counties, strong provider relationships, and a differentiated care model centered on compassion and responsiveness, Capstone has built the foundation necessary to scale responsibly.
Capstone also reflects our purpose-driven lens. The business depends on a workforce of clinicians and caregivers whose retention and development directly shape care quality; it operates in a highly regulated environment where compliance rigor is foundational; and it delivers a service that brings measurable comfort and dignity to patients and families at one of life’s most consequential moments.
We are working alongside Hugh and his team to support disciplined geographic expansion, draw on our healthcare advisory network for clinical and operational guidance, and invest in the workforce development and quality systems that underpin scalable hospice care while preserving the culture and values that define the organization.
