Genstar Capital Launches New Senior Care Services Platform UniVita Health and Agrees to Acquire Outsourced Insurance Services Provider, Long Term ... (y players. Bruce Baude CEO o...)

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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

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Bruce Baude, CEO of Long Term Care Group, said, "LTCG is perfectly positioned in front of several major trends including the aging of the baby boomers and the increased longevity we are experiencing in this country. The need for long term care insurance is becoming more visible everyday which will fuel our continued growth for many years to come. We are pleased that Genstar recognized the value that we bring and look forward to a long successful partnership."

"Working with the proven team of Genstar and the Lytle's is the right next step for our company," added LTCG co-founder and President Peter Goldstein. "Our claims practices have always focused on promoting independence so the UniVita vision truly resonates with us."

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 plans 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 and ultimately live their last years with dignity. By integrating the products and services of these companies, UniVita will make the home a safe place for individuals to age, maintain support networks, and receive medical care.

James D. Nadauld, Vice President of Genstar, said, "Long Term Care Group is a strong company whose experienced and talented management team, led by Bruce Baude and Peter Goldstein, successfully built this business, and we are very enthusiastic about partnering with them to build on that growth. Genstar has a successful history of investing in healthcare services and earlier this year we agreed to leverage that expertise and develop an Independent Aging Platform in a new
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Genstar Capital Launches New Senior Care Services Platform UniVita Health and Agrees to Acquire Outsourced Insurance Services Provider, Long Term ...(y players. Bruce Baude CEO o...),Health