San Diego-based GreatCall has been acquired by the Private equity firm GTCR for the undisclosed amount of money. The company provides active aging & independent living solutions, health apps, cell phones for seniors and medical alert devices. The transaction is expected to close in the third quarter of 2017.
As part of the deal, GTCR will partner with CEO David Inns and the GreatCall management team as they continue to grow and develop the company's technology and services offering. GTCR expects to commit additional equity capital to fund future acquisitions and organic growth initiatives.
Founded in 2006, GreatCall is the largest provider of connected health and personal emergency response services (PERS) for active aging, serving over 800,000 subscribers across the United States. GreatCall's product offering includes senior-friendly hardware combined with one-touch connectivity to trained agents who can answer questions, dispatch emergency personnel, connect to family caregivers and provide additional concierge services.
"We are excited to partner with GTCR as we continue to provide seniors with exceptional services that provide peace of mind and extend independent living," GreatCall CEO, David Inns, said in a statement. "GTCR brings significant resources and experience in building industry-leading companies, and we believe they will be a valuable resource in the long-term expansion of our business."
Last December, GreatCall acquired Healthsense, a provider of of passive remote monitoring services for the senior care, managed care and home care.