Here are four things to know.
1. With the investment, Blue Wolf will be Great Lakes Caring’s new equity partner, replacing Wellspring Capital Management, its partner since 2014, according to a news release.
2. William Deary, CEO of Great Lakes Caring, and his management team will continue to lead Great Lakes Caring and have maintained a significant equity stake in the company.
3. “The Home Health and Hospice industry is poised for consolidation, and Great Lakes Caring will actively participate in this consolidation as we evaluate acquisition opportunities and execute on our internal initiatives,” Mr. Dreary said in a statement on the partnership. “As we reach this next stage in the evolution of Great Lakes Caring, we are very fortunate to welcome new partners who appreciate our success, recognize our potential and are eager to help us reach our goals.”
4. Financial terms of the transaction were not disclosed.
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