DALLAS, CHANTILLY, Va., and NEW YORK, Dec. 7, 2017
The combined company, through a deep network of physicians and nurse practitioners, will provide technology-enabled in-home health assessments nationwide. In addition, the company will provide high acuity health plan members with a range of chronic care management and care coordination services.
"Our partnership with New Mountain and Advance will continue to expand Censeo's participation in the in-home health assessment and care management space. We look forward to our partnership with proven leaders in healthcare," said Kevin McNamara, CEO of CenseoHealth.
"Bringing Censeo and Advance together with New Mountain will accelerate innovation and allow us to serve our customers in new value-added ways," added Brian Wise, CEO of Advance Health.
Matt Holt, Managing Director at New Mountain Capital added, "We have been working to establish a new and better platform in the technology-enabled payer services industry, with a focus on enabling low-cost, high quality value-based care. By offering patients a comprehensive in-home health assessment, coupled with a range of chronic care management and care coordination services, the combined company will enable health plans and providers to reduce member costs, increase care quality, and reduce readmissions."
New Mountain invests in the highest quality leaders in carefully selected defensive growth industries and then partners with management in continued business-building efforts. New Mountain identified Censeo and Advance through its long-standing efforts in technology-enabled payer services, including its investments in Equian and Convey.
"Censeo and Advance have a tremendous track-record of delivering value to all constituents of the healthcare system, including patients, payers, and healthcare providers that are facing increasing pressure to improve outcomes and efficiency while reducing costs," said Vignesh Aier, Managing Director of New Mountain Capital. "We are very proud to partner with the Censeo and Advance teams, and we plan to commit substantial resources behind the combined company to invest in new products, services, and technology for the benefit of our customers."
Goldman Sachs served as financial advisor to Censeo and Bass, Berry & Sims PLC served as legal advisor to Censeo. TripleTree served as financial advisor to Advance Health and Ballard Spahr LLP served as legal advisor to Advance Health. Deutsche Bank served as financial advisor to New Mountain Capital and Kirkland & Ellis LLP served as legal advisor to New Mountain Capital.
Headquartered in Dallas, TX, Censeo Health, LLC is a leading provider of prospective health assessments for health plans and healthcare delivery organizations. The company's contracted network of nearly 7,500 licensed physicians performs comprehensive, Annual Wellness Visit-compliant assessments with members in their homes, at network physician offices and in community settings. By capturing complete health and social welfare assessments of health plan members to drive better clinical outcomes through care management referrals and return-to-care recommendations, CenseoHealth's insights help enhance member engagement, improve quality ratings and reduce overall healthcare costs. For more information please visit www.censeohealth.com.
About Advance Health
Founded in 2010 and headquartered in Chantilly, VA, Advance Health is a leading provider of prospective health assessments. Advance Health offers in-home and facility-based health assessments and chronic care management services for health plans. Advance Health employs a network of employed Nurse Practitioners to provide its services. The company has developed a proprietary technology platform that providers use at the point of care. To date, the company has completed hundreds of thousands of assessments for many of the largest Medicare Advantage programs in the United States. Visit Advance Health at www.advancehealth.com to learn more.
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $20 billion in aggregate capital commitments. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.
CenseoHealthNathan GoldsteinChief Revenue Officer Email: email@example.com Phone: (202) 390-2258
Advance HealthBrian Wise Chief Executive OfficerEmail: firstname.lastname@example.org Phone: (571) 449-2928
View original content:http://www.prnewswire.com/news-releases/censeohealth-and-advance-health-announce-investment-by-new-mountain-capital-300568404.html
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