GTCR recaps Managed Health Care Associates

The Chicago-headquartered private equity group has acquired the group purchasing group in the long-term, alternate-care and acute-care markets.

GTCR Golder Rauner, the Chicago-based private equity firm has completed the recapitalisation of Managed Health Care Associates (MHA).

The transaction amount was not disclosed. The recap makes GTCR MHA’s majority investor; Advent International, the group’s previous majority holder, will remain in a minority position.

MHA, with headquarters in Florham Park, New Jersey, is a US purchasing organization in the long-term, alternate-care, and acute care markets, providing its members contracted prices on pharmaceuticals, medical/surgery, dietary, laboratory and capital equipment. The group spent more than $4 billion, according to a press statement.

In May, GTCR agreed to acquire Honeywell Security Monitoring, the security services division of global technology and engineering conglomerate Honeywell International, in a $316 million transaction.

GTCR, led by senior principal Bruce Rauner, was founded in 1980. The firm currently manages over $6 billion of capital.

GTCR’s specialty is to build investment cases around high calibre executives it tries to get close to prior to identifying suitable assets for investments.