Chicago, IL, June 22, 2022 — The Vistria Group announced the completion of a dividend recapitalization of its portfolio company, Supplemental Health Care (“the Company”), a leading workforce solutions management company.
Vistria Fund IV made an investment in Supplemental Health Care in November 2021, and the Company has continued to significantly grow revenue and EBITDA as it continues to re-invest in technology and additional senior management talent. Supplemental Health Care has closed on $100m of incremental debt, which will be used to fund a distribution to shareholders. As a result of the distribution, The Vistria Group LPs will realize a return of approximately 30% of their original equity investment in the Company in less than seven months while leaving their ownership stake unchanged.
“Supplemental Health Care has continued to play a critical role in supporting the delivery of high-quality care throughout the pandemic and amidst evolving workforce dynamics,” said Amy Christensen, Partner and Co-Head of Healthcare of The Vistria Group. “Consistent with our original thesis in workforce solutions, the Company has consistently connected caregivers with communities that need them most, and we are excited to support the Company as it expands its reach and impact.”
“Our ability to return approximately 30% of invested capital to our limited partners through a dividend recapitalization is a testament to the Company’s growth and the management team’s execution on its value creation plan,” added Natasha Latif, Principal at The Vistria Group.
Founded in 1984, Supplemental Health Care is one of the largest staffing and workforce solutions management companies, serving both acute and non-acute care environments. With placements in hospitals, schools, home health and other care settings, Supplemental Health Care bridges the gap between a qualified, ready-to-work supply of health professionals and the many facilities and communities that need them.
“We are very pleased with the growth of the business and the support to make investments to enhance the technology, operations and capacity of the business,” said Greg Palmer, CEO of Supplemental Health Care. “We look forward to the continued growth and partnership with our investors.”
About Supplemental Health Care
Supplemental Health Care is a leading healthcare staffing and workforce solutions provider with a broad geographic presence, serving hospitals, health systems, educational institutions, and other healthcare organizations. The Company manages more than 4,000 clinicians on-assignment at client facilities daily. To learn more about Supplemental Healthcare, visit shccares.com.
About The Vistria Group
The Vistria Group is building a new kind of private investment firm that delivers both financial returns and societal impact. It invests in essential industries like healthcare, education and financial services that deliver value for investors as well as communities, employees, and consumers. The Vistria Group works as a true partner with its portfolio companies, drawing on its deep sector knowledge, operational expertise, unique network, diverse team, and impact orientation to achieve transformational growth. With nearly $7 billion in AUM, The Vistria Group has delivered attractive returns for its investors while achieving positive outcomes for its portfolio companies, and the lives and livelihoods it supports.