Precyse Enters into Acquisition Agreement with Pamplona Capital Management
Health Information Management Leader Poised to Implement Next Phase of Growth
WAYNE, Pa., July 1, 2015 /PRNewswire/ -- Precyse, a leader in health information management (HIM) technology, services and education, announced today that, as part of its long term growth plan, the company has entered into an agreement to be acquired by investment firm Pamplona Capital Management (Pamplona). Precyse's board and their current outside private equity investors, Altaris Capital Partners and NewSpring Capital, have approved this corporate transaction.
Precyse, founded in 1999, has assisted nearly 5,000 healthcare facilities and systems across the United States to improve efficiency and deliver tangible outcomes. The company delivers a robust combination of experienced, highly trained people; premier technology solutions; and industry-leading education, targeted at all clinical and financial aspects of Health Information Management. Collectively, this equips healthcare organizations to achieve enhanced, sustainable operational performance.
"We are delighted to be partnering with Pamplona at this exciting time in Precyse's evolution," said Precyse CEO, Chris Powell. "Precyse offers a wide range of services, education and technology solutions to help healthcare organizations thrive. Pamplona will help us meet our long term growth objectives as we continue to build out our current successful model and expand our offerings in the future to help healthcare organizations reach new levels of operational success."
Dr. Jeremy Gelber, Pamplona Capital Management partner and leader of the investment, is equally thrilled about the transaction, "Precyse has established itself as a leader in Health Information Management with the ability to fully outsource HIM departments, provide services or technology on an as-needed basis, and supply educational tools to help hospitals achieve better outcomes. We and Precyse have a shared vision in expanding the business beyond the company's traditional offerings into other areas that positively impact providers' clinical and financial outcomes, both in Health Information Management and beyond."
Adds Powell, "I am excited to have the financial resources and talent that Pamplona brings to Precyse which enables us to continue to deliver on our commitments to our clients and allows us to bring new and valuable solutions to our market as we evolve in today's dynamic healthcare environment. I am proud of our people who have demonstrated their unwavering dedication and hard work to put Precyse in this fortunate position of our corporate evolution and grateful to Altaris Capital Partners and NewSpring Capital for their support throughout this process. Our commitment to our clients remains our number one priority."
Precyse was advised by William Blair & Company and received legal advice from Kirkland & Ellis LLP.
About Precyse
Precyse has helped nearly 5,000 healthcare facilities and health systems nationwide to improve efficiency and deliver tangible outcomes for more than a decade. With products ranging from an integrated transcription and coding platform with advanced speech recognition, expert workflow technologies, and Natural Language Processing (NLP) to Health Information Management (HIM) consulting and services, Precyse's flexible software can be delivered stand-alone or complemented by a professional staff of more than 1,400 experts. Precyse is the partner hospitals across the country choose to achieve this goal. www.precyse.com
About Pamplona Capital Management
Pamplona Capital Management is a London and New York based specialist investment manager established in 2005 that provides an alternative investment platform across private equity, fund of hedge funds and single manager hedge fund investments. Pamplona Capital Management, LLP manages over USD 10 billion in assets across a number of funds for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices and funds of hedge funds. Pamplona is currently managing its fourth private equity fund, Pamplona Capital Partners IV LP, which was raised in 2014. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations. Please see Pamplonafunds.com for further information.
Media Contact:
Audra Murphy, Precyse
800-555-2311 x224
[email protected]
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