H.I.G. Capital's Strategic Investment in GT Independence
In a noteworthy development, H.I.G. Capital, a top global alternative investment firm, has executed a major investment in GT Independence, a leader in providing long-term home care solutions. This investment signifies a robust commitment to enhancing the services intended for Medicaid participants through Self Directed Care (SDC) programs.
Understanding GT Independence's Mission
GT Independence emphasizes the importance of giving individuals, regardless of their age or abilities, the autonomy to direct their own care and support at home. The company, headquartered in Sturgis, Michigan, utilizes innovative technology and tailored service offerings that meet the diverse needs of its clients to administer SDC programs effectively. This initiative aims to simplify the administrative burdens faced by individuals and promote a higher quality of care.
Leadership That Inspires
John Carmichael, the President and CEO of GT Independence, is passionate about the company’s mission. He expresses optimism with H.I.G. Capital's backing, believing that it will enable GT Independence to extend its reach into new markets confidently. The support is envisioned to enhance individuals’ abilities to control how they receive in-home care, promoting dignity and independence.
Importance of Participant-Centered Care
GT Independence has gained a strong reputation for delivering exceptional care that puts the needs of participants first. The organization collaborates with state administrators and managed Medicaid organizations (MCOs) to ensure high compliance rates while striving for innovation in service delivery. They focus on improving patient choice and outcomes, especially during a period marked by a shortage of professional caregivers.
Collaboration with Financial Advisors
The investment was supported by financial advisors Morgan Stanley & Co. LLC and Guggenheim Securities, LLC, while legal counsel was provided by McDermott Will & Schulte LLP to H.I.G. Capital. This multifaceted approach emphasizes the strategic planning behind the transaction and sets the stage for future expansion of GT Independence's services.
About GT Independence LLC
Founded in 2004, GT Independence is dedicated to assisting individuals in self-directing their home and community-based services. The company has experienced remarkable growth since its inception and now serves over 50,000 individuals across 18 states and the District of Columbia. The founding Carmichael family’s firsthand experience with self-directed services gives the company unique insights into the challenges and rewards of this approach.
About H.I.G. Capital
H.I.G. Capital manages approximately $70 billion in capital and is known for its operationally focused investment strategies. With offices not only in Miami but also across major cities in the United States and international locations, H.I.G. specializes in providing both debt and equity financing to mid-market companies. Their diverse investment portfolio includes management buyouts, recapitalizations, corporate carve-outs, and real estate opportunities.
Frequently Asked Questions
What type of care does GT Independence provide?
GT Independence focuses on long-term home care solutions, particularly through Self Directed Care (SDC) programs for Medicaid participants.
How does H.I.G. Capital support GT Independence?
H.I.G. Capital’s investment enables GT Independence to expand its services and reach new markets, enhancing its capabilities to serve more individuals.
What is the mission of GT Independence?
GT Independence aims to empower individuals to direct their own care and support services, promoting autonomy and dignity across all age groups.
Where is GT Independence headquartered?
GT Independence is based in Sturgis, Michigan, and operates in multiple states across the country.
What is H.I.G. Capital’s investment philosophy?
H.I.G. Capital employs a flexible and operationally focused approach to investments, targeting middle market companies for growth and value creation.
