#USA #H.I.G. Capital #Miami #GT Independence #Self Directed Care

H.I.G. Capital Completes Major Investment in GT Independence

H.I.G. Capital, a prominent global alternative investment firm, has announced a substantial investment in GT Independence, a leader in long-term home care solutions for Medicaid participants. This partnership promises to accelerate GT's mission to provide self-directed care options that empower individuals with greater control over their care and support.

The Partnership

H.I.G. Capital, which manages an impressive $70 billion in capital, recognizes the strategic importance of this investment. GT Independence is known for its innovative approach to self-directed care, which assists Medicaid participants in managing their home care services. The company's President and CEO, John Carmichael, will remain at the helm, ensuring continuity and strong leadership as they expand operations.

Headquartered in Sturgis, Michigan, GT Independence has established a reputation for tailoring its services to meet the specific needs of individuals across the United States. Through self-directed care programs, the company allows clients to choose how they receive care, fostering independence and promoting dignity in their lives.

What GT Independence Offers

GT Independence acts as a Financial Management Services (FMS) provider, facilitating streamlined administration for those who wish to manage their caregivers. The firm also collaborates closely with state administrators and Medicaid Managed Care Organizations (MCOs), striving for high compliance standards and innovative practices within the industry. In doing so, GT helps alleviate the growing pressure from the nationwide labor shortage of professional caregivers, enabling individuals to hire trusted support from their networks.

John Carmichael expressed his enthusiasm about the partnership with H.I.G. Capital. "With their investment, we can enhance our growth strategy and expand into new markets. Our goal is to empower more individuals to dictate how they receive care and support within their own homes and communities, enabling all people, irrespective of age or ability, to live with dignity."

Scott Zhu, Managing Director at H.I.G., echoed this sentiment, complimenting GT Independence on its commitment to participant-centered care. He remarked, "GT has built a strong reputation for its exceptional service quality. We are thrilled to support John and his team as they broaden GT's impact across various states and among stakeholders."

Future Goals

Following this significant investment, GT Independence plans to extend its reach and continue supporting individuals across 18 states and the District of Columbia. With services already benefiting over 50,000 individuals, the potential for growth is abundant. The ongoing mission at GT Independence is to help as many people as possible live life on their terms, underscoring the pivotal role that self-directed care plays in modern healthcare.

Company Background

Founded in 2004 by the Carmichael family, GT Independence was inspired by their own experiences with self-directed services. Their journey highlighted both the rewards and challenges faced when providing care to family members, ultimately leading to the establishment of the company to assist others experiencing similar situations.

As for H.I.G. Capital, it has a long-standing history in the investment sector, focusing on providing debt and equity capital to middle-market companies and managing over 400 global investments since its inception in 1993. Its strategy emphasizes operationally focused approaches, ensuring that investments yield both financial returns and positive impacts.

Conclusion

This strategic partnership marks a pivotal step for both entities involved. With H.I.G. Capital's backing, GT Independence is well-positioned to innovate and expand its services, improving the quality of life for countless individuals requiring long-term home care solutions. As the healthcare landscape evolves, partnerships like these will be essential in meeting the growing needs of the aging population and those with disabilities.