GTCR bought GreatCall Inc., an emergency response services provider, for an undisclosed amount. The deal comes after the private equity firm purchased Sage Payment Solutions, a payment processing and services merchant, for $260 million.
GreatCall, headquartered in San Diego, offers health and personal emergency response assistance for senior citizens. More than 800,000 users across the U.S. subscribe to the target’s services. GreatCall also designs hardware for elders to access trained agents with the touch of a button. Trained agents are prepared to dispatch emergency personnel, connect family caregivers and answer questions. The GreatCall deal is expected to close in the third quarter of 2017.
GTCR, a Chicago-based PE firm, plans to commit additional equity to fund future acquisitions for GreatCall. The firm has invested more than $12 billion in capital over 200 companies across the financial services, technology, healthcare and technology, media and telecommunications industries. GTCR's investments is underlined by the Leaders Strategy, a program that involves "finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth."
GTCR has been active across the middle market in recent months. In May, the firm bought Vivid Seats LLC, a digital hub for users to buy and sell tickets to sports and entertainment events. In April, GTCR acquired medical device maker Regatta Medical Holdings LLC after forming a new trading technology company called Dash Financial Technologies. GTCR won Mergers & Acquisitions' 2013 M&A Mid-Market Private Equity Firm of the Year award.
Jefferies LLC acted as financial adviser to GTCR, while Kirkland & Ellis LLP served as legal adviser. J.P. Morgan Securities LLC (NYSE: JP) served as financial adviser to GreatCall, while DLA Piper served as legal adviser.