Genstar Capital Launches New Senior Care Services Platform UniVita Health and Agrees to Acquire Outsourced Insurance Services Provider, Long Term ... ( Newly Formed Platform To Be Developed...)

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Genstar Capital Launches New Senior Care Services Platform UniVita Health and Agrees to Acquire Outsourced Insurance Services Provider, Long Term Care Group

Date:12/1/2008

Newly Formed Platform To Be Developed In Partnership With Industry Veterans Ben and Hugh Lytle

SAN FRANCISCO, Dec. 1 /PRNewswire/ -- Genstar Capital, LLC, 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, today announced that it has signed a definitive agreement to acquire Long Term Care Group, Inc. (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, based in Eden Prairie, MN was founded in 1996 and is the nation's leader in 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 robust 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.

LTCG is the only company in its market that supports a true "end to end" solution. With 1.3 million policies on its proprietary operating system and 27,000 claims under management, LTCG is the clear market leader. The company has developed deep relationships with many of the industry's leading insurance carriers and provides services to 9 of the top 10 long term care industr
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SOURCE Genstar Capital, LLC
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Genstar Capital Launches New Senior Care Services Platform UniVita Health and Agrees to Acquire Outsourced Insurance Services Provider, Long Term ...( Newly Formed Platform To Be Developed...),Health