Genstar to buy health care outsourcer

Genstar Capital LLC, a San Francisco-based private-equity firm, yesterday agreed to buy Long Term Care Group Inc., an outsourced services administrator. The acquisition of the Eden Prairie, Minn.-based company is part of Genstar’s plans to develop a new senior care services platform, which will be called UniVita Health. The platform will provide integrated independent aging services and advanced care for seniors, giving them home-based care and support, Genstar said. UniVita also plans to assist families with financial planning and financing, providing customers with a way to manage the costs of care. Previously, Advent International Corp., a Boston-based private-equity firm, and CCP Equity Partners, a Hartford, Conn.-based firm, owned Long Term Care Group. Terms of the sale, which is expected to close this month, were not disclosed. L. Ben Lytle and Hugh Lytle have also been brought on board to lead UniVita as executive chairman and chief executive, respectively. Also, Patrick Yount will become the chief operating and finance officer of UniVita and will work closely with LTCG CFO Jeffrey Sjobeck to position the company for its next purchase. Earlier, the Lytels and Mr. Yount held management roles at Axia Health Management LLC, a Tempe, Ariz., health services provider that was also a Genstar investment. Ben Lytle was the chief executive, while Hugh Lytle, his son, was its president. Mr. Yount was Axia’s finance chief.