Grant Avenue Capital has acquired PatientCare EMS Solutions, a provider of ground-based healthcare transportation services, in a deal the firm said will support platform growth, geographic expansion, and deeper partnerships with municipalities, hospitals, and health systems. Terms were not disclosed.
Founded in 1998, PatientCare completes more than 400,000 transports annually and serves customers across New York, Florida, South Dakota, and Connecticut. The company also operates an EMS education business, the School of EMS, which provides training services in more than 35 states. Grant Avenue said its investment will help PatientCare further invest in infrastructure and accelerate both organic and acquisition-driven growth, including expansion in existing markets and entry into new geographies through add-on deals.
As part of the transaction, PatientCare appointed Jeff Shullaw as CEO. Shullaw previously led Midwest Medical Transport Company and brings more than three decades of experience scaling healthcare transportation businesses. He is also part of Grant Avenue’s operating executive program, Grant Accelerator, which pairs industry executives with the firm to pursue targeted acquisitions and growth initiatives.
Support: Grant Avenue was advised by Lincoln International as lead debt advisor, Citizens Capital Markets & Advisory as financial advisor, and McGuireWoods LLP as legal counsel.
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“PatientCare has established itself as a leading provider of outstanding healthcare transportation services, backed by operational discipline, excellent clinical quality, and longstanding relationships across its markets.”“We see a compelling opportunity to partner with Jeff, who shares Grant Avenue’s commitment to continuing to invest in PatientCare’s people, systems, and local-market strategy, while maintaining the culture and standards that differentiate the Company today.”
Eric Kim, Principal, Grant Avenue Capital
“I am thrilled to join PatientCare, which has built a strong reputation for developing lasting community partnerships and delivering superior patient outcomes through trust, technology, and transparency.”“Grant Avenue’s track record of successfully scaling healthcare companies will be a significant value-add as we seek to accelerate PatientCare’s growth initiatives, invest further in technology, and continue delivering exceptional care to patients in the communities we serve.”
Jeff Shullaw, Chief Executive Officer, PatientCare EMS Solutions
