Grant Avenue Capital LLC, a healthcare-focused private equity firm, has acquired a majority interest in QHR Health from Quorum Health Corp.
QHR Health is a shared service service provider for independent hospitals and health systems nationwide. The company provides a broad base of solutions, including management advisory services, revenue cycle management, supply chain optimization, outsourced IT services and strategic consulting.
This transaction marks Grant Avenue Capital’s seventh corporate carve-out since its launch in 2019 and is a further example of the firm’s operational and execution capabilities.
“This is an exciting time for QHR Health, our clients and the markets we serve,” said Dwayne Gunter, president and CEO of QHR Health. “Our partnership with Grant Avenue fuels the ability to accelerate development of our technology-enabled shared-services, expand our human capital capabilities, and provide the solutions our clients require to remain independent, financially strong and well-positioned to serve the evolving healthcare needs of their communities.”
“Strengthening independent community healthcare is foundational to a strong, national healthcare infrastructure,” said Buddy Gumina, founder and managing partner of Grant Avenue Capital. “The QHR team has demonstrated the ability to meaningfully impact and improve the performance of its clients through its broad solution set. We look forward to investing further in QHR, both organically and through acquisitions, to expand its breadth of services.”
Nashville Capital Network and Brentwood Capital Partners also invested in the transaction alongside Grant Avenue Capital. Brentwood Capital Advisors served as the exclusive financial advisor to Grant Avenue Capital. Churchill Asset Management LLC served as lead arranger and administrative agent, with First Eagle Alternative Credit LLC serving as a joint lead arranger.