The amount and terms of the investment were not disclosed in an afternoon release.
"This is an outstanding investment opportunity for GTCR," GTCR principal Joe Nolan said in a release. "We see significant growth potential in the Medicare Advantage marketplace, and we are extremely enthusiastic about partnering with such an exceptional management team, led by CEO Herb Fritch and COO Jeff Rothenberger."
NewQuest operates HealthSpring in the Nashville area. GTCR, which stands for Golder, Thoma, Cressey and Rauner, is a Chicago-based private equity firm that has invested in several Nashville companies, including Province Healthcare and Frontline Group.
Brentwood Capital Advisors advised NewQuest on this transaction.
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