GTCR, a leading private equity firm, announced that it has signed a definitive agreement to acquire GreatCall, Inc.
GreatCall, San Diego, Calif, 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.
As part of the transaction, 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.
“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,” said Mr. Inns. “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.”
“Through their leading service and technology platforms, GreatCall delivers a differentiated customer experience to an expanding demographic. As communication form factors and use cases continue to evolve, GreatCall is uniquely positioned to tailor these advancements to the needs of independent seniors,” said Lawrence Fey, managing director at GTCR.
The transaction is expected to close in the third quarter of 2017.