Grant Avenue Capital announced it has acquired PatientCare EMS Solutions.

PatientCare, founded in 1998 and based in Tyler, Texas, is a provider of ground ambulance services, delivering emergency and non-emergency medical transportation to communities across multiple geographies. 

Grant Avenue, founded in 2019 and based in New York, is a healthcare-focused, middle market private

Gauge Capital announced it has invested in Reliable Medical.

Reliable, founded in 1989 and based in Nashville, Tennessee, is a provider of complex rehabilitation technology and related mobility and home medical equipment solutions across the United States.

Gauge, founded in 2013 and based in Southlake, Texas, is a middle market private equity firm

On December 22, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a multifaceted data-driven operation to address potential money laundering, focused on more than 100 U.S. money services businesses (MSBs) operating along the southwest border. MSBs are non-bank financial institutions that provide certain financial services, including money transmission, check cashing, and foreign currency exchange. This operation will focus on MSBs’ potential non-compliance with the Bank Secrecy Act (BSA) and other regulations by examining Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs), which MSBs and other financial institutions must submit under BSA regulations.  

Because MSBs operating along the southwest border face heightened risk of “cartel-related money laundering,” including the use of proceeds from drug trafficking, human smuggling, and terrorism, this operation is consistent with President Trump’s designation of certain international criminal cartels and organizations as foreign terrorist organizations.

NMS Capital recently announced an investment in and recapitalization of Axiom Medical. 

Axiom, founded in 1999 and based in The Woodlands, Texas, is a workplace incident case management solutions provider focused on self-insured employers.

NMS, founded in 2010 and based in New York, is a private investment firm specializing in strategic equity investments in

Lower middle-market private equity in government-reimbursed healthcare requires a different playbook — one that balances controlling ownership with founder retention to build long-term value. Evolve Capital has become a subject matter expert in the Medicare-reimbursed home healthcare space, and principal Ben Mackay shares the playbooks with McGuireWoods partner and host Geoff Cockrell.

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