Most recent acquisition in broader home-based care buy and build initiative
Grant Avenue Capital, LLC, www.GrantAve.com, a healthcare-focused private equity firm, announced today that its portfolio company, Fortis Home Health & Hospice, www.FortisHH.com, acquired Select Home Health, based in Indianapolis, Indiana. The founders of Select reinvested alongside other investors in Fortis as part of the acquisition. Fortis, with operations now in Indiana and Utah, is Grant Avenue Capital’s home-based care buy and build initiative that was launched in December 2020.
Founded by Tim Leonard, Michael Shide, and Michelle Porter in 2010, Select is a highly regarded provider of patient-centered home health and private duty home care services. Additional information about Select is available at www.SelectHHS.com.
This transaction marks the expansion of Fortis into the Midwest region and is a further example of the company’s flexible and partnership-based approach to acquisitions. In addition, the transaction represents the eighth add-on acquisition completed by Grant Avenue Capital in 2021.
In conjunction with the acquisition of Select, Grant Avenue Capital also announced the promotion of Mike Gregory to President & Chief Growth Officer of Fortis. A hospice nurse by background, Mike brings over 16 years of industry experience to the company.
“The founders of Select built their organization to deliver the highest quality of patient care, which is exactly inline with Fortis’ mission and why we are so excited to partner with them,” said Mike Gregory.
“It did not take long for us to realize that Grant Avenue Capital, alongside Fortis, shared our same vision of patient-centered home healthcare,” said Tim Leonard, founder & President of Select. “This partnership will allow our clinicians and support staff to leverage our technology-enabled platforms to provide great care to additional patients across the state.”
“The outstanding team at Select is well known in the market for providing exceptional care to individuals and their families,” said Buddy Gumina, founder and managing partner of Grant Avenue Capital. “We plan to accelerate the expansion of Select and our broader home-based care platform, Fortis, through continued investment in the clinical and leadership teams combined with strategic acquisitions, partnerships and de novo launches.”
For more information, please visit www.GrantAve.com or email Info@GrantAve.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.
Contact:
Sari E. Ring
Chief of Staff
Grant Avenue Capital
212.294.8935