Caregiver Inc., a leading provider of long-term care services and supports to people with intellectual and developmental disabilities, announced July 27 that it closed on a recapitalization with WindRose Health Investors LLC, a New York-based health care private equity firm.
WindRose partnered with Fort Worth-based Caregiver’s executive team to recapitalize the business and provide additional capital to support future growth. With WindRose’s investment, Caregiver will be able to expand into new markets across the United States and increase its market share within existing markets to provide its high-quality care to more clients.
“As part of Caregiver’s business growth process, we have selected new sponsors for this next phase of the company,” said Mark Lashley, chief executive officer, Caregiver. “More than one million individuals with disabilities in the U.S. rely on direct support professionals like Caregiver’s. Our partnership with WindRose will allow us to meet the growing demand for excellent care.”
“We are thrilled to be partnering with Mark and the Caregiver management team,” said CJ Burnes, Partner with WindRose. “We have evaluated many businesses in this sector and have identified Caregiver as the premier platform. Caregiver has an exceptional reputation for providing high-quality care and we look forward to supporting the company’s continued growth as they expand into new and existing markets.
“WindRose understands our industry, the rewarding work we do each day, and the impact we make on each other through our acts of service,” Lashley said. “We believe this will be a great partnership as we strive for operational excellence and to be the provider and employer of choice.”
Lashley said Caregiver’s customers and employees would not notice a change in service or operations beyond the continuous dedication to provide quality services to a vulnerable population.