Platform Partners Complete the Sale of GHR Healthcare to MidOcean Partners

News provided by

Dec 14, 2021, 10:36 ET

PLYMOUTH MEETING, Pa., Dec. 14, 2021 /PRNewswire/ -- Platform Partners ("Platform"), a private investment firm based in Houston, and an investor syndicate arranged by Joe Kaplan announced the sale of GHR Healthcare ("GHR" or the "Company") to MidOcean Partners ("MidOcean"). Headquartered in Plymouth Meeting, PA, GHR is a comprehensive healthcare staffing platform providing highly skilled nursing, allied and healthcare IT professionals, as well as outsourced workforce solutions.

"We appreciate all the effort John Quirk and the entire GHR management team invested in the Company over the past five years. The investments the management team made in both people and technology positioned GHR for sustainable, long-term growth," said Brad Morgan, President of Platform.

Vik Kalra, Executive Vice President of Platform, added, "We were impressed with the senior team's ability to successfully manage and outperform through a global pandemic. John and his team relentlessly focused on executing their business plan and outperformed all of our expectations."

Platform partnered with and invested alongside Joe Kaplan and a strategic group of co-investors with previous experience in the healthcare staffing industry. Mr. Kaplan served on GHR's leadership team as Board Chairman.

Joe Kaplan commented, "It was a pleasure working with Platform. Besides access to capital, Platform provided us with strategic insight to significantly invest in our business to drive organic and acquisition growth and to enhance our value for all our stakeholders. This included Platform assisting us with financial analysis, acquisition integration and technology improvements to create a stronger organization. I am very pleased with what we have accomplished together and believe MidOcean will serve as a great partner for GHR's next phase of growth."

Houlihan Lokey served as financial advisor, and Willkie Farr & Gallagher LLP acted as legal advisor to GHR. Gibson Dunn & Crutcher LLP acted as legal advisor to MidOcean. MidOcean is a New York-based private equity firm with significant healthcare staffing experience.

About Platform Partners, LLC
Founded in 2006, Platform Partners LLC is a private company based in Houston that makes investments in lower middle-market companies with the intent of growing these businesses into industry leaders through a combination of organic and acquisition growth. Platform invests through a perpetual holding company structure allowing for a long-term, patient approach to partnering with entrepreneurs to build companies. The company manages total assets of approximately $700 million. For more information, please visit www.platformllc.com.

About GHR Healthcare, LLC
GHR Healthcare is the parent company to a family of operating brands focused on healthcare facility and community-based staffing: General Healthcare Resources, GHR Travel Nursing, GHR RevCycle Workforce, GHR Education, GHR Human Services, GHR Technology and GHR Search. Through these brands, GHR Healthcare provides a variety of workforce solutions, including local long-term contract, travel, per diem, MSP and direct hire services to clients nationwide. For more information, please visit www.GHRHealthcare.com.

SOURCE Platform Partners LLC