#United States #H.I.G. Capital #Sturgis, Michigan #GT Independence #Self-Direction

GT Independence Partners with H.I.G. Capital to Revolutionize Financial Management

GT Independence, a prominent financial management services (FMS) provider, has recently finalized an investment agreement with H.I.G. Capital, a leading global alternative investment firm. This collaboration marks a significant step towards enhancing the capacity of GT Independence to support individuals seeking greater autonomy in their long-term services and supports (LTSS).

Founded in 2004 by John Carmichael and his family, GT Independence has devoted itself to aiding individuals in self-directing their LTSS, ensuring they have control over how they live and receive care. The company has seen impressive growth, boasting a 255% increase in revenue over three years and extending its services to over 50,000 participants across 18 states plus the District of Columbia.

The Investment Agreement

With the new agreement in place, H.I.G. Capital is set to infuse the necessary resources that will allow GT Independence to expand its reach and services. John Carmichael, CEO of GT Independence, expressed enthusiasm about the partnership, noting H.I.G.'s understanding of the critical role self-direction plays within the healthcare ecosystem. Under this collaboration, the company aims to improve its existing framework and explore new markets, thereby enabling more individuals, regardless of age or ability, to live according to their own preferences.

Scott Zhu, Managing Director of H.I.G. Capital, echoed this sentiment, highlighting that self-direction is increasingly important in today's evolving healthcare landscape. He emphasized that GT Independence's advanced technology and comprehensive resource offering positions it as an industry leader in delivering these essential services.

Despite the specifics of the financial agreement remaining undisclosed, it is noteworthy that the founding Carmichael family will retain a stake in the company, ensuring continuity and commitment to its founding vision. John Carmichael is set to continue his role as CEO, driving the strategic vision and overseeing the execution of initiatives geared towards expansion and service enhancement.

Addressing the Challenges of Self-Direction

Self-direction allows participants to select and employ their service providers, enabling a customized approach to care that best fits their unique needs. This model is particularly beneficial as it fosters independence and enhances quality of life for users, aligning closely with their personal goals and lifestyles. GT Independence serves as an employer's agent, simplifying the complexities involved in the employment process, including payroll, taxes, and compliance with local, state, and federal regulations.

As demand for self-directed services grows, driven by an increasing desire for independent living, GT Independence remains at the forefront of meeting these emerging needs. The partnership with H.I.G. Capital is expected to bolster the company's ability to bring self-direction into more communities, thereby broadening its impact.

Future Prospects

Looking ahead, GT Independence aims to leverage this investment to enhance its technological framework, expand its workforce, and promote self-direction awareness nationwide. By dedicating resources effectively, the company intends to overcome existing barriers that hinder participation and improve access to self-directed services.

GT Independence's mission has always been to provide individuals with the autonomy to live life as they choose. With the backing of H.I.G. Capital, the future looks bright for both the company and the communities it serves. As the landscape of financial management in care services continues to evolve, GT Independence stands ready to lead the charge, ensuring that self-direction remains a viable and empowering option for all individuals across the nation.

For more information about GT Independence and its services, visit gtindependence.com.