Key Takeaways
- • Grant Avenue Capital completed the sale of Ovation Healthcare, a shared-services provider to community hospitals and health systems, to Parkview Health, a nonprofit health system based in Fort Wayne, Indiana, according to a Business Wire release.
- • Terms of the transaction were not disclosed.
- • Grant Avenue acquired Ovation (formerly QHR Health) in May 2021 through a carve-out from Quorum Health Corporation, making the sale a successful exit after roughly five years of ownership.
- • Under Grant Avenue's ownership, Ovation completed five add-on acquisitions, launched two complementary service offerings, rebranded, and added several key executives.
- • Ovation partners with more than 500 clients across 48 states and provides revenue cycle management, IT services, spend management, and leadership advisory services.
Summary
Grant Avenue Capital LLC, a healthcare-focused, middle-market private equity firm, announced the completed sale of Ovation Healthcare to Parkview Health, according to a Business Wire release dated November 9, 2026. Terms of the transaction were not disclosed. Ovation, formerly known as QHR Health, is headquartered in Brentwood, Tennessee, and serves more than 500 clients across 48 states, ranging from critical access hospitals to large health systems.
Grant Avenue acquired Ovation in May 2021 through a carve-out from Quorum Health Corporation. During its ownership, the company became an independent organization, underwent a rebrand, and executed a range of value creation initiatives. Since 2021, Ovation has completed five strategic add-on acquisitions and launched two complementary service offerings, while adding several key executives to its leadership team. The company provides revenue cycle management, IT services, spend management, and management and leadership advisory services.
Buddy Gumina, Founder and Managing Partner of Grant Avenue, said the firm saw an opportunity in 2021 to build on Ovation's long history of supporting hospitals and health systems and expressed confidence in the company's next chapter with Parkview. Eric Kim, Principal at Grant Avenue, described Ovation as having built a differentiated platform with a talented leadership team and a strong reputation. Dwayne Gunter, Chief Executive Officer of Ovation, said Grant Avenue's support helped strengthen leadership, enhance technology, and deliver more integrated client solutions.
Parkview Health, a nonprofit health system serving Indiana and northwest Ohio, operates 16 hospitals and employs more than 20,000 co-workers, according to the release. Baird served as financial advisor and Goodwin Procter LLP served as legal counsel to Ovation in the transaction.
Grant Avenue acquired Ovation in May 2021 through a carve-out from Quorum Health Corporation. During its ownership, the company became an independent organization, underwent a rebrand, and executed a range of value creation initiatives. Since 2021, Ovation has completed five strategic add-on acquisitions and launched two complementary service offerings, while adding several key executives to its leadership team. The company provides revenue cycle management, IT services, spend management, and management and leadership advisory services.
Buddy Gumina, Founder and Managing Partner of Grant Avenue, said the firm saw an opportunity in 2021 to build on Ovation's long history of supporting hospitals and health systems and expressed confidence in the company's next chapter with Parkview. Eric Kim, Principal at Grant Avenue, described Ovation as having built a differentiated platform with a talented leadership team and a strong reputation. Dwayne Gunter, Chief Executive Officer of Ovation, said Grant Avenue's support helped strengthen leadership, enhance technology, and deliver more integrated client solutions.
Parkview Health, a nonprofit health system serving Indiana and northwest Ohio, operates 16 hospitals and employs more than 20,000 co-workers, according to the release. Baird served as financial advisor and Goodwin Procter LLP served as legal counsel to Ovation in the transaction.
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