BBH Capital Partners, the private equity arm of Brown Brothers Harriman, has completed an investment in nurse staffing companies Gifted Healthcare to capitalize on the shortage of nurses in the industry.
The deal followed the firm’s $1.215m final close of its sixth flagship fundraise in May.
Founded by registered nurses, Gifted supplies critical care registered nurses and licensed vocational nurses to healthcare providers on per diem, short term, or extended term basis.
Brad Langer, Managing Director of BBH and Co-Manager of BBHCP, said, “BBHCP is excited to partner with Gifted‘s talented, deep, and experienced management team. Transitioning CEO, P.K. Scheerle, RN, who will remain on the board, and the exceptional leadership team, have built a strong, innovative platform in the nurse staffing sector as the role of the nurse has become increasingly important in the healthcare industry.
As the growing shortage of nurses continues to create a great opportunity for best-in-class, clinically focused outsourced providers like Gifted, BBHCP is committed to supporting the GIFTED team through their next phase of growth.”
BBH raised $250m for a lower-mid-market Opportunities Fund three years ago, to complement its flagship fund investment strategy.
The firm uses that vehicle to target US companies whose development stage or capital needs are below the minimum investment thresholds for its main fund.
BBH’s fifth flagship fund was closed on $802m in 2016.
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