Goodwin Advises Grant Avenue Capital and Ovation Healthcare on Sale to Parkview Health
The Private Equity and Healthcare teams advised Grant Avenue Capital (Grant Avenue) and Ovation Healthcare (Ovation) on the completed sale of Ovation, a leading provider of shared services to community hospitals and health systems, to Parkview Health, a nonprofit health system. The transaction marks a successful exit for Grant Avenue, which acquired Ovation in May 2021 through a carve-out from Quorum Health Corporation. During Grant Avenue’s ownership, Ovation completed five strategic add-on acquisitions, launched two complementary service offerings, and expanded its capabilities.
Grant Avenue is a healthcare-focused, middle-market private equity firm targeting investments alongside forward-thinking management teams that seek an experienced and innovative investor with operational insight and flexible capital to drive business growth. With decades of healthcare investing experience, deep industry knowledge, and a broad network of relationships, Grant Avenue actively supports the strategic and operational initiatives of its investments in pursuit of exceptional outcomes. Grant Avenue partners with companies in a variety of transaction structures, including founder recapitalizations, majority buyouts, minority investments, corporate carve-outs, and special situations. Grant Avenue is committed to delivering outstanding, risk-adjusted returns by actively building world-class companies that enhance patient health, strengthen the health system, and positively impact the communities they serve.
Ovation Healthcare partners with more than 500 healthcare organizations across 48 states, from critical access hospitals to large health systems. For nearly 50 years, Ovation has strengthened community healthcare through a portfolio of shared services, including Leadership Advisory, Spend Management, Revenue Cycle Management, and Technology Services. Ovation helps hospitals and health systems gain leverage, achieve operational economies of scale, and improve performance so they can keep care close to home.
The Goodwin team was led by Chris Wilson, Matthew Giannascoli, Nicholas Clarkin, Mackenzie Philbrick, Jessica Barbaria, and Eric Willenbacher.
For more information on the deal, please read the press release.