NEW YORK, January 17, 2019 - Arsenal Capital Partners ("Arsenal"), a leading private equity firm that invests in middle-market healthcare and specialty industrials companies, announced today the acquisition of Accumen Inc. ("Accumen"), a leading technology-enabled provider of health system performance optimization solutions, from Accretive, LLC, a specialized investment firm based in New York. The terms of the acquisition were not disclosed.
Founded in 2011, Accumen provides end-to-end strategy and services to drive value and long-term sustainability for healthcare providers’ clinical laboratories, outreach services, patient blood management systems, and imaging services.
Steve McLean, a Senior Partner of Arsenal said, "Accumen has a best-in-class management team with highly valuable expertise in providing operating and clinical improvements for its hospital and health system clients. Accumen serves the critical market need for the optimization of in-house ancillary services to support the healthcare industry’s broader value-based care goals and initiatives.”
Jeff Osborne, the CEO of Accumen, said, "We are proud of the business that we have built and are excited to partner with Arsenal. We chose Arsenal because of its deep healthcare and technology-enabled business services expertise and are confident that Arsenal can provide experience and resources to support the company’s growth strategy."
BG Porter, an Industry & Operations Partner of Arsenal and recently named Chair of Accumen’s board, added, "Arsenal and its portfolio companies are committed to improving the quality and cost effectiveness of healthcare providers. We are excited to work with Jeff and his team to expand Accumen’s innovative, technology-enabled solutions and support the company through its next phase of growth.”
MTS Health Partners, L.P. acted as a financial advisor, and Ropes & Gray LLP acted as a legal advisor to Arsenal. Nexus Health Capital acted as a financial advisor, and Greenberg Traurig, P.A. acted as a legal advisor to Accumen.
About Accumen Inc.
Accumen Inc. is a leading healthcare performance partner providing end-to-end strategy and services to drive value and long-term sustainability for the clinical lab, outreach services, patient blood management, and imaging services. Accumen offers health system partners consulting, execution, utilization, and outreach solutions using a proven blueprint, innovative approach, and insight-driven proprietary technology. Accumen partners with hospitals and health systems to set new standards of performance for healthcare delivery in speed, higher quality, increased patient safety, and a better patient experience that is sustainable. For more information, visit www.accumen.com.
About Arsenal Capital Partners
Established in 2000, Arsenal is a leading private equity firm that specializes in investments in middle-market specialty industrials and healthcare companies. Since inception, Arsenal has raised institutional equity investment funds of approximately $3 billion. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience and seeks companies typically in the range of $100 - $500 million of initial enterprise value. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. For more information, visit www.arsenalcapital.com.
About Accretive, LLC
Founded in 1999 by J. Michael Cline, Accretive, LLC is a specialized investment firm dedicated to creating great companies. Accretive employs a systematic approach to analyzing markets and uncovering large opportunities for value creation. The goal of Accretive’s research is to understand a set of customers’ pain points and the other offerings available in the marketplace to solve them. Through this process, Accretive determines if it can create a meaningfully higher value solution for the market. If so, Accretive designs a customer-centric business model, ideally with win-win characteristics for all constituents, that is capable of driving the desired outcome. Accretive implements this design by aggressively backing a team of talented, experienced executives that it hand-picks to build the company from the ground-up. For more information, visit www.accretivellc.com.