GTCR Forms Jessamine Healthcare

GTCR has formed Jessamine Healthcare Inc., a Rockville, Md.-based platform to acquire companies in the healthcare payor and outsourced payor services industries. No financial terms were disclosed. Jessamine Healthcare will be led by Sale Wolf, former CEO of Coventry Health Care (NYSE: CVH).


GTCR, one of the nation’s leading private equity firms, today announced it has entered into a partnership with Dale Wolf to form Jessamine Healthcare, Inc. The new company, headquartered in Rockville, Maryland, will focus on acquiring companies in the healthcare payor and outsourced payor services industries.

Mr. Wolf, who will serve as Jessamine’s Chief Executive Officer, is a 34-year industry veteran who most recently served for twelve years as a senior executive of Coventry Health Care (NYSE: CVH), a diversified national managed healthcare company. During his tenure as CEO of Coventry, he oversaw its growth from a regional commercial health insurer into a broad national platform generating $12 billion in annual revenues from commercial, Medicare, Medicaid and workers’ compensation products. Prior to serving as CEO, Mr. Wolf served as Coventry’s CFO, where in addition to managing the company’s finance functions, he was responsible for underwriting and acquisition growth. Mr. Wolf will be joined at Jessamine by Fran Soistman, Executive Vice President. Mr. Soistman is a 29-year industry veteran and former executive of Coventry, where he managed the company’s largest commercial health plan before building and running Coventry’s $5 billion Medicare business.

“The changing U.S. healthcare system should increasingly value businesses that can enhance access to care and improve patient outcomes in cost-effective ways,” stated Wolf. “Healthcare payor and outsourced payor services companies should play an integral role in this evolving system, and GTCR has a history of building successful platforms in these sectors through organic growth and acquisitions. We believe that this is an attractive time to build a presence in our targeted markets.”

“We are excited to partner with Dale,” said GTCR Principal David Katz. “He has a long track record of identifying strategic growth areas and successfully building businesses in those sectors. We believe that Dale’s experience is a critical element of success in an operating environment where political and regulatory changes have created both challenges and opportunities. This is another great example of GTCR’s strategy of partnering with proven leaders to build companies in attractive industries.”

GTCR is currently investing its ninth fund, a private equity fund with $2.75 billion of committed capital.

About Jessamine Healthcare

Jessamine Healthcare, headquartered in Rockville, Maryland, is focused on acquiring companies in the healthcare payor and outsourced payor services industries. For more information about Jessamine Healthcare, please e-mail Fran Soistman at

About GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.0 billion in over 200 companies. For more information, please visit