New MainStream Capital has recapitalized Milford, Iowa-based GrapeTree Medical Staffing, a healthcare staffing agency. No financial terms were disclosed for the transaction that was done in partnership with GrapeTree founder Tim Kinnetz.
New York, NY, October 23, 2017 – New MainStream Capital (“NMS”) announced today that it has partnered with company Founder Tim Kinnetz in the recapitalization of GrapeTree Medical Staffing, LLC (“GrapeTree”). GrapeTree will serve as the platform investment in NMS’ effort to build an industry-leading provider of CNA and RN staffing to long-term care facilities and hospitals on both a per diem and contract basis. In connection with the transaction, NMS has made a substantial capital commitment to support the future growth of GrapeTree through adding employees, expanding service offerings and making strategic acquisitions.
Tim Kinnetz founded GrapeTree in 1999 in his hometown of Milford, Iowa. Having worked extensively as a travel nurse himself, Tim was intimately familiar with the challenges faced by both the healthcare facility in need of supplemental staffing and the individual tasked with providing it. Through the extensive use of technology, GrapeTree has developed a platform able to deliver both per diem and contract staffing, enabling facilities to quickly and efficiently fill staffing needs with experienced healthcare professionals and allowing CNAs, LPNs and RNs to supplement their incomes by adding shifts to their work week.
“I’m excited to take GrapeTree to the next level with this partnership,” said Kinnetz. “Bringing in outside capital and experience will not only advance the development of our team, culture and values, but will continue our growth right here in Milford.”