Heritage Group Joins GTCR as Investor in Equiti

News provided by

Sep 10, 2024, 08:00 ET

Dean M. Harrison joins Equiti's Board of Directors

NASHVILLE, Tenn. and CHICAGO, Sept. 10, 2024 /PRNewswire/ -- Heritage Group, a healthcare-focused private equity firm, today announced a significant investment in Equiti Health ("Equiti" or the "Company"), a leading provider of tech-enabled, healthcare-focused language interpretation services. Heritage is partnering with GTCR and the Equiti management team to support the Company's next phase of growth. In addition, Equiti is pleased to announce that experienced healthcare executive Dean M. Harrison has joined as an independent member of the Company's Board of Directors. Mr. Harrison is the former President and CEO of Northwestern Memorial HealthCare, the primary teaching affiliate of Northwestern University Feinberg School of Medicine, where he led the health system for over 16 years.

Headquartered in Sunrise, Florida, Equiti, which recently rebranded from Cloudbreak Health, is a leading video-focused language interpretation service provider that helps patients with limited English proficiency communicate with caregivers in healthcare settings. The Company's core offerings are Martti™ and Voyce, both of which are HIPAA-compliant Video Remote Interpretation solutions. Equiti serves clinicians and patients across all types of healthcare settings, including hospitals, urgent care centers, standalone clinics and medical practices, and helps improve health equity across an underserved U.S. patient population.

Maureen Huber, CEO of Equiti said, "We have a tremendous amount of respect for Heritage Group and the deep healthcare provider and payor relationships they maintain. We are excited to welcome them to our investor base as we continue Equiti's strong momentum in partnership with GTCR."

"After closely tracking the healthcare interpretation market for multiple years, we are thrilled to partner with GTCR and Equiti, which has established itself as a category leader," said Jesse Bland, Partner at Heritage Group. "The Company is uniquely positioned to serve as a differentiated partner to health systems in solving a critical challenge, and to bring a better care experience to patients who otherwise would go underserved."

Mark Anderson and Geoffrey Tresley at GTCR added: "Since investing in the Company earlier this year, we have worked closely with Maureen and the management team to accelerate growth and strengthen Equiti's leading market position in healthcare interpretation services. The investment from Heritage is a testament to the hard work of the team and the conviction we share in Equiti's value proposition in this attractive end-market."

Holland & Knight LLP and Gunderson Dettmer served as legal counsel to Heritage Group, Kirkland & Ellis LLP served as legal counsel to GTCR.

About Equiti
Equiti is a leading healthcare technology company dedicated to empowering the delivery of superior care and ensuring equitable access to healthcare for all. Through innovative integrated solutions and actionable insights, Equiti supports healthcare providers and underserved populations in achieving optimal health outcomes. The Company offers comprehensive language access and other solutions tailored to the diverse needs of underserved and limited English proficient populations. Equiti's commitment to breaking down barriers and leveraging data-driven approaches is shaping the future of healthcare, making it more accessible, efficient, and equitable. Equiti is building a world where everyone, everywhere, can access the healthcare they deserve. For more information, visit www.equitihealth.com.

About Heritage Group
Heritage Group is a Nashville, Tennessee-based, healthcare-focused private equity firm with more than 35 years of experience financing and operating healthcare companies. Heritage has over $1 billion of assets under management and seeks to make majority and minority investments in high-growth healthcare services and healthcare technology businesses that address the challenges of the U.S. healthcare system. The firm's limited partners include some of the leading healthcare organizations in the nation, including large provider systems, payers, and healthcare service providers, which collectively operate over 800 hospitals and insure more than 75 million lives. For more information, visit www.heritagegroupusa.com.

About GTCR
Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $25 billion in over 280 companies, and the firm currently manages $40 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit www.gtcr.com. Follow us on LinkedIn.

Contacts

For Heritage:
Florence Chassaignac
615.263.7832
[email protected]

For GTCR:
Andrew Johnson
212.835.7042
[email protected]

For Equiti:
Liam Afonso
954.686.6800 x1135
[email protected]

SOURCE GTCR