Leading providers of outpatient rehabilitation services and healthcare staffing solutions
Grant Avenue Capital, LLC, www.GrantAveCap.com, a healthcare-focused private equity firm, announced today that it has acquired the Heartland Rehabilitation and MileStone businesses from HCR ManorCare. The combined business will operate under the newly formed brand, H2 Health. Terms of the transaction were not disclosed.
Heartland Rehabilitation, which has changed its name and will operate in the market as H2 Health, is a national provider of outpatient physical rehabilitation care offering a wide range of services, including physical, occupational, and speech therapies. The business operates more than 60 outpatient facilities across seven states. Additional information about H2 Health is available at www.H2Health.com.
MileStone, a H2 Health company, provides per-diem, travel, and contract clinical staffing to healthcare providers and facilities throughout the country. Additional information about MileStone is available at www.MileStoneStaffing.com.
“HCR ManorCare has created leading, regional platforms in the outpatient rehab and caregiver staffing sectors,” said Buddy Gumina, founder and managing partner of Grant Avenue Capital. “Looking forward, we will build upon the great foundation of H2 Health to expand the reach of the business and thereby provide world-class care to a broader base of patients. In addition, completing a complex transaction like H2 Health speaks to the operational and execution capabilities of Grant Avenue Capital.”
Guy Sansone, founding partner of Kiawah River Health Partners, a Grant Avenue Capital Advisory Board member, and Chairman and CEO of H2 Health added: “H2 Health has a long-track record of delivering outstanding care and improving the lives of patients. I look forward to working with our dedicated and patient-focused management team, clinicians, and employees to grow our breadth of services over the years to come.”
For more information please visit www.GrantAveCap.com or email Info@GrantAveCap.com.
About Grant Avenue Capital LLC
Grant Avenue Capital is a healthcare-focused, middle-market private equity firm targeting investments alongside forward-thinking management teams that seek an experienced and innovative investor with highly flexible capital, both in terms of duration and structure. While a typical investment will involve companies generating approximately $5 million to $25 million of EBITDA, Grant Avenue Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, joint-control partnership investments, and special situations.
In addition, the Grant Avenue Foundation supports employees and portfolio companies of Grant Avenue Capital that are actively engaged with healthcare-oriented charitable organizations.
About Kiawah River Health Partners LLC
Kiawah River Health Partners (“KRHP”) is the family investment vehicle of Guy Sansone. KRHP co-invests with private equity firms and high net worth individuals across the healthcare continuum.