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Genstar Capital Portfolio Company Univita Health Completes Debt Financing
Date:7/22/2009

SAN FRANCISCO, July 22 /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 its portfolio company Univita Health has executed a senior credit facility totaling $97.5 million to refinance a bridge note that Genstar funded as part of Univita's acquisition of Long Term Care Group, Inc. in December of last year, as well as for future acquisitions and general corporate purposes.

Univita was formed by Genstar in partnership with industry veterans Hugh and Ben Lytle to help seniors live, age and receive care independently in the residence of their choice while reducing cost and complexity for them, their families, government, insurers and providers of care.

"The successful completion of a financing in this difficult market is a testament to the strength of Univita's business model and the experience of its management team," said James D. Nadauld, a Principal of Genstar Capital. "Genstar's close partnership with Hugh and Ben is working well in fostering the development of Univita into a leading integrated senior care services company and the new credit facility from GE Capital and Bank of Ireland is an important step in the continued growth of the company."

GE Capital, Healthcare Financial Services served as administrative agent and GE Capital Markets arranged the transaction as sole bookrunner and co-lead arranger. Bank of Ireland served as co-lead arranger and syndication agent. The two lenders joined to underwrite the majority of the credit facility.

Hugh Lytle, co-founder, President, and Chief Executive Officer of Univita Health, said, "We are very pleased that the company is performing above our expectations and this new credit facility represents another milestone in our continued rapid growth of the business. In addition to the acquisitions we made to build Univita, we are actively exploring new opportunities that will strengthen our offerings as we seek to provide three core suites of products to our clients."

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 caregiving for seniors and their caregivers. It will target businesses that help seniors maintain their independence and ultimately live full life 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.

About Univita Health

Univita Health is dedicated to helping people live and age with independence. By providing one place to find and manage resources which support independent aging, Univita makes it easier for seniors to receive care and age safely at home. Univita is transforming home based care by integrating the full range of in-home care needs from basic caregiving through complex home health care, with the latest communication technologies. Through Univita's web portal, people can directly communicate with providers and caregivers, coordinate scheduling, handle payment and monitor real-time activity. And Univita offers families unique, personalized assessments and decision support including financial planning tools. For more information, please visit www.univitahealth.com.

About Genstar Capital, LLC

Genstar Capital (www.gencap.com) is a leading private equity firm that for over 20 years has been actively investing in high quality middle-market companies and building value in those businesses by utilizing the expertise of its operating partners. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating partners and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than $3 billion of committed capital under management and targets investments focused on selected sectors within the industrial technology, life sciences, healthcare services, business services and software services industries.

    Contact: Chris Tofalli
    Chris Tofalli Public Relations, LLC
    914-834-4334


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SOURCE Genstar Capital, LLC
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