Career Step LLC, a Springville, Utah-based provider of online vocational training for the healthcare industry, has raised $22 million from DW Healthcare Partners and BB&T Capital Partners.
Career Step, LLC (“Career Step”), a leading provider of online vocational training for the healthcare industry, today announced the completion of a $22 million equity investment from DW Healthcare Partners II, LP (“DWHP”) and BB&T Capital Partners II, LLC (“BBTCP”).
“DWHP and BBTCP are exactly what we have been looking for in a partner,” said Andrea L. Anaya, the Founder of Career Step. “I and my entire executive team are very excited for what this relationship will mean to Career Step, our employees, and our students.” Following the transaction, Ms. Anaya will continue to be a minority owner in the company.
Joining Career Step as CEO and COO, respectively, will be Michael S. Wilstead and Mark N. Thomas. Both gentlemen have worked with DWHP through its Executive in Residence Program since January 2008. Previously, Messrs. Wilstead and Thomas led InteliStaf Healthcare, one of the largest healthcare staffing companies in the United States. Mr. Wilstead said, “High-quality, competency-based education and training is exactly what people need in these trying economic times. We look forward to delivering the company’s proven programs to more and more people.”
Justin R. Pettit, Principal at DWHP, said, “Career Step’s unique education and training platform has enabled its graduates to achieve a very high job placement rate in their chosen fields. We will seek to build on this impressive track record by expanding the company’s online programs to additional vocational training areas within the healthcare industry.”
About Career Step
Career Step is the nation’s leading provider of online medical transcription, coding, and billing education and training. Career Step enjoys a tremendous market advantage in the healthcare industry by virtue of its reputation as an innovative, competency-based vocational training company. For more information, please visit www.careerstep.com.
About DW Healthcare Partners
DW Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. The firm manages over $250 million in committed capital and invests in profitable healthcare companies with proven management teams. DW Healthcare Partners is led by seasoned healthcare executives with more than 100 years of combined industry experience. The firm provides the capital, strategic guidance, and acquisition expertise to help mid- to late-stage companies realize their potential for growth. For more information, please visit www.dwhp.com.
About BB&T Capital Partners
BB&T Capital Partners manages over $400 million in committed capital and makes direct equity investments in and provides subordinated debt to privately-held middle market companies throughout the United States. Since 1998, BB&T Capital Partners has invested in a variety of industries, providing flexible junior capital to facilitate buyouts, acquisitions, growth and recapitalizations. BB&T Capital Partners is a patient, long-term investor committed to partnering with strong management teams that share our core values. BB&T Capital Partners is affiliated with BB&T Corp. (NYSE: BBT), one of the largest bank holding companies in the U.S. For more information, please visit www.bbtcp.com.