Investment to Drive Platform Growth, Expand Geographic Footprint, and Strengthen Partnership with Municipalities, Hospitals, and Healthcare Systems
Grant Avenue Capital, LLC, a healthcare-focused, middle-market private equity firm, announced the acquisition of PatientCare EMS Solutions , a leading provider of ground-based healthcare transportation services. Terms of the transaction were not disclosed.
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Established in 1998, PatientCare operates more than 400,000 transports per year as a trusted partner to municipalities, hospitals, and healthcare systems across New York, Florida, South Dakota, and Connecticut, and also provides EMS education services in more than 35 states through the School of EMS. PatientCare will leverage Grant Avenue’s healthcare expertise and operational and financial resources to further invest in the Company’s infrastructure and accelerate organic and inorganic growth efforts, including expansion in existing markets and entry into new markets, including through add-on acquisitions.
In connection with Grant Avenue’s investment in the Company, Jeff Shullaw, former CEO of Midwest Medical Transport Company, has been named CEO of PatientCare. Mr. Shullaw has more than three decades of experience in building and scaling patient-centered healthcare transportation businesses. Mr. Shullaw currently serves as a member of Grant Avenue’s operating executive program, Grant Accelerator, which partners with leading industry executives to identify and execute targeted acquisitions and scale healthcare businesses.
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Eric Kim, Principal at Grant Avenue, said, “PatientCare has established itself as a leading provider of outstanding healthcare transportation services, backed by operational discipline, excellent clinical quality, and longstanding relationships across its markets. We see a compelling opportunity to partner with Jeff, who shares Grant Avenue’s commitment to continuing to invest in PatientCare’s people, systems, and local-market strategy, while maintaining the culture and standards that differentiate the Company.”
Mr. Shullaw added, “I am thrilled to join PatientCare, which has built a strong reputation for developing lasting community partnerships and delivering superior patient outcomes through trust, technology, and transparency. Grant Avenue’s track record of successfully scaling healthcare companies will be a significant value-add as we seek to accelerate PatientCare’s growth initiatives, invest further in technology, and continue delivering exceptional care to patients in the communities we serve.”
Grant Avenue was advised by Lincoln International as lead debt advisor, Citizens Capital Markets & Advisory as financial advisor, and McGuireWoods LLP as legal counsel.
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Source- businesswire
