Genstar Capital Agrees to Acquire Outsourced Insurance Services Provider, Long Term Care Group

Genstar Capital, LLC (San Francisco), a middle market private equity firm that focuses on investments in selected segments of the industrial technology, life sciences, healthcare services, business services and software services industries, has signed a definitive agreement to acquire Long Term Care Group, Inc. (Eden Prairie, Minn.), (LTCG) from Advent International and CCP Equity Partners, in partnership with LTCG's management and industry veterans L. Ben Lytle and Hugh Lytle. LTCG is the initial investment in Genstar's development of a new senior care services platform

Long Term Care Group provides outsourced services to the long term care insurance industry and an emerging player in the geriatric care services market. LTCG offers a complete range of outsourced services including application processing, underwriting, policy administration, clinical assessments, claims processing, care management, and a suite of professional services to long term care insurance companies and their policy holders.

The acquisition of LTCG is the initial investment in Genstar's formation of UniVita Health, a new healthcare services platform centered on the concept of independent aging. UniVita was developed in partnership with healthcare industry veterans Ben and Hugh Lytle who will lead the management team and growth of the new platform.

Genstar's formation of UniVita Health as a new platform investment is consistent with its strategy of partnering with experienced operating executives to create attractive new business models and drive their growth. UniVita intends to become the largest national provider on a region-by-region basis of integrated independent aging services and advanced care giving for seniors and their caregivers. It will target businesses that help seniors maintain their independence.

Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio