Healthcare-focused lower middle market private equity firm
RiverGlade Capital
- HeadquartersChicago, IL S4
- Websiteriverglade.com
- Last verifiedOctober 28, 2026
At a glance
| Latest fund | RiverGlade Capital Fund II, $453M (Aug 2022) S5 |
|---|---|
| EBITDA range | Up to $20M S1 |
| Check size | $15M to $100M S1 |
| Deal types | Platform, Add-on, Minority S1 |
| Geography | North America S1 |
| Sectors | Healthcare Services, Dental, Veterinary |
What RiverGlade Capital buys
RiverGlade Capital is a Chicago private equity firm that invests only in healthcare, mostly in founder-owned companies in the lower middle market. It looks for businesses worth $15 million to $300 million, with up to $20 million of EBITDA for a new platform, and it invests $15 million to $100 million of equity. It usually takes control but will consider select minority deals, and its market is North America. Target areas include outsourced and home-based services, franchise models, employer and payor services, specialty staffing, healthcare technology, and medical products and distribution.
The firm closed a $325 million first fund in 2019 and a $453 million Fund II in 2022. Its current companies include James River Home Health and Hospice, Dynamic Infusion, Home Helpers, CityVet, Kids Care Dental and Athena Care. In 2026 it partnered with Senior Living Residences and formed Sentinel Care Group, a franchise platform. Add-ons have no EBITDA minimum, so a smaller healthcare business is most likely to meet RiverGlade as an add-on to one of these companies.
Recent deals
Announced in the 24 months before October 28, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Oct 2026 | Dynamic AccessVascular access services provider sold to Blue Sea Capital; RiverGlade kept its stake in Dynamic Infusion | Exit | Healthcare Services | Source |
| Oct 2026 | Sentinel Care GroupNew platform to buy and build franchise brands, formed with former Right at Home CEO Brian Petranick | Platform | Source | |
| Aug 2026 | Senior Living ResidencesBraintree, Massachusetts manager of 24 independent living, assisted living and memory care communities; CEO stays and founder joins the board | Platform | Healthcare Services | Source |
| Mar 2026 | PICC StatFamily-owned Minneapolis vascular access provider added to Dynamic Access | Add-on | Healthcare Services | Source |
| Dec 2025 | Golden Rule HospiceAtlanta-area hospice provider joined James River Home Health and Hospice | Add-on | Healthcare Services | Source |
| Jul 2025 | Custom Learning DesignsSales training provider for pharmaceutical, biotech and medical device companies; CEO stays in her role | Platform | Source | |
| Dec 2024 | Solution NursingHome infusion nursing provider in Maryland, Delaware, Pennsylvania and Northern Virginia added to Dynamic Infusion | Add-on | Healthcare Services | Source |
Portfolio by sector
From the firm's portfolio page S2.
Current
- Sentinel Care Group
- Senior Living Residences (SLR)
- Custom Learning Designs (CLD)
- Dynamic Infusion
- Home Helpers
- James River Home Health & Hospice
- TenderHeart Health Outcomes
- Wellworks for You
- Athena Care
- CityVet
- Kids Care Dental
Past investments: Dynamic Access, U.S. Oral Surgery Management, Blue Sky Vision
Greymont’s take
How RiverGlade Capital fits a seller
RiverGlade fits owners of home health, hospice, home infusion, behavioral health, dental, veterinary and other care businesses who want a buyer that knows healthcare well. In its recent deals the people running the company stayed on: James River's founder kept the CEO job in 2024, Custom Learning Designs' CEO stayed in 2025, and at Senior Living Residences in 2026 the CEO stayed while the founder moved to the board. Smaller owners usually meet the firm through an add-on, as Golden Rule Hospice did with James River and PICC Stat did with Dynamic Access.
RiverGlade does sell its companies. It sold U.S. Oral Surgery Management to Oak Hill Capital in 2021 and Dynamic Access to Blue Sea Capital in October 2026. An owner should ask how far the platform is into its hold and what would happen to any equity they keep when it is sold.
Questions owners ask
What size companies does RiverGlade Capital invest in?
It targets companies with an enterprise value of $15 million to $300 million and invests $15 million to $100 million of equity. Platform companies can have up to $20 million of EBITDA, and add-ons have no minimum.
Does RiverGlade invest outside healthcare?
No. It describes itself as a healthcare-focused firm, and its holdings range from home health and hospice to veterinary and pediatric dental care. Even Custom Learning Designs, a training company, serves pharmaceutical, biotech and medical device makers.
Does RiverGlade buy franchise businesses?
Yes. Franchise models are one of its stated focus areas, and it owns home care franchisor Home Helpers. In October 2026 it formed Sentinel Care Group with former Right at Home CEO Brian Petranick to buy and build franchise brands.
Does the founder stay after RiverGlade invests?
Usually, based on its releases. James River's founder stayed on as CEO after the June 2024 deal, and in the August 2026 Senior Living Residences deal the CEO kept his role while the founder joined the board.
Sources
- S1RiverGlade Capital: About (target investment attributes and focus areas) Accessed October 28, 2026
- S2RiverGlade Capital: Investments Accessed October 28, 2026
- S3RiverGlade Capital: News Accessed October 28, 2026
- S4RiverGlade Capital: Contact (Chicago and Vero Beach offices) Accessed October 28, 2026
- S5RiverGlade Capital Closes $453 Million Private Equity Healthcare Fund II (August 22, 2022) Accessed October 28, 2026
- S6RiverGlade Capital Closes $325 Million Private Equity Healthcare Fund (October 17, 2019) Accessed October 28, 2026
- S7RiverGlade Capital Announces New Partnership With James River Home Health and Hospice (June 7, 2024) Accessed October 28, 2026
- S8RiverGlade Capital Announces Sale of U.S. Oral Surgery Management (November 19, 2021) Accessed October 28, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with RiverGlade Capital. Figures are as reported on the dates shown and may have changed. Request a correction