‘The market is poised to explode,’ says GreatCall CEO David Inns
CHICAGO – When GTCR acquired connected health company GreatCall this month, the private equity firm looked at the transaction as the right move at the right time.
“We’ve been looking at the home health technology space for a long time,” said Dave Donnini, managing director at GTCR. “We’ve talked to a lot of companies in the space and believe this is the right opportunity for us.”
Headquartered in San Diego, GreatCall is one of the largest providers of connected health and personal emergency response services for active aging, serving more than 800,000 subscribers across the country. The company offers senior-friendly hardware combined with a call center with agents who can answer questions, dispatch emergency personnel and connect to family caregivers.
David Inns, CEO of GreatCall, said customers won’t notice any changes when the transaction closes in the third quarter of this year.
“It will be seamless for our customers,” he said. “There will be no change in the day-to-day operations at GreatCall.”
What will be different, said Inns, is the company’s growth strategy.
“My goal is to take what is already a fairly large company and maybe double its value over the next 36 months,” he said.
With backing from GTCR, GreatCall plans to expand into additional commercial and senior living markets, allowing the company to become more mainstream.
“We’re growth-oriented investors,” said Donnini. “GreatCall has plans we completely agree with, so we hope to grow them both organically and through acquisitions. We’ll work closely with them strategically.”
Inns believes the home health technology market is under-penetrated, with few brand names. He’s optimistic that will be changing soon.
“This is a nascent market that is really starting to accelerate,” he said. “It’s a great time to partner with GTCR because the market is poised to explode.”