Newly Acquired Company Renamed AxisPoint Health, Will Continue to Lead and Innovate in Care Management Solutions
West Palm Beach, FL – June 2015 – Comvest Partners, with co-investor Mosaic Health Solutions, today announced it has completed the acquisition of McKesson Corporation’s Care Management business, which will be renamed AxisPoint Health (“the Company”). Headquartered in Westminster, CO, AxisPoint Health is a leading provider of care management services to payers and other risk-bearing entities. The Company’s offerings include complex and chronic case management services, nurse advisory services, and a care management software platform used by payers to manage utilization, disease, and case management services in-house. AxisPoint Health currently provides its services through nurses and other clinical professionals in 24 states.
The acquisition signals new opportunities for the Company and a continued commitment to improving cost savings for payers and other risk-bearing organizations by delivering better health outcomes for members. AxisPoint Health will build on its key strengths — improving health outcomes, simplifying complex care, and directing members to the right care at the right time.
“In the new era of value-based health care, the entire industry is reorienting around achieving the best outcomes by identifying the most appropriate levels of care,” said Roger Marrero, Partner at Comvest Partners. “We believe that AxisPoint Health starts out with deep experience and capabilities in the market for connecting members to the right care in the most cost-effective way. We plan to further invest in AxisPoint Health’s technology and solution offerings in order to improve an individual’s experience throughout the continuum of care.”
“This change in ownership represents a terrific opportunity for the Care Management business, which will be even better positioned to execute on its growth strategies. In addition, it will enable McKesson to focus on our core strengths,” said Jeff Felton, president, McKesson Connected Care & Analytics. “With deep expertise in this market, Comvest Partners is the right company to support the business and invest in future innovation. I am confident that Care Management customers and employees will benefit from their commitment to this business.”
“AxisPoint Health excels in simplifying care management for the most complex patients,” said Maureen O’Connor, President of Mosaic Health Solutions. “This investment aligns well with our vision of accelerating health innovation that expands access and improves the quality of health care.”
McDermott Will & Emery served as legal advisor to Comvest Partners. MidCap Financial and Pacific Western Bank provided financing for the transaction.
About Comvest Partners:
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across the U.S. With over $2.1 billion of assets under management, our firm includes seasoned, senior level operating executives who partner with management and entrepreneurs to grow businesses and create long-term value. Since 2000, Comvest has invested more than $1.6 billion of capital in over 135 public and private companies.
About McKesson Corporation:
McKesson Corporation, currently ranked 15th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. We partner with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services.
About Mosaic Health Solutions:
Mosaic Health Solutions, headquartered in Durham, North Carolina, is developing an integrated suite of market leading solutions to accelerate health innovation. Through strategic investments, partnerships and the creation of new companies, Mosaic Health Solutions is making health care better by empowering consumers and enabling healthier living.