SCOTTSDALE, Ariz.and NASHVILLE, Tenn., June 6, 2016 /PRNewswire/ -- Centauri Health
The addition of IMI will grow the quality offerings Centauri brings the healthcare industry, advancing its efforts to reveal new care opportunities in healthcare and improve people's lives. The acquisition also continues Centauri's growth in Nashville.
"Selectively acquiring innovative companies whose technology or services complement our existing programs is part of Centauri's growth strategy," said Adam Miller, Chief Executive Officer at Centauri. "IMI's quality products have been thoughtfully developed, helping healthcare organizations and providers achieve favorable and measurable results for nearly two decades. We look forward to working with the IMI team to expand our combined capabilities and offer best-in-class solutions that help our clients improve quality care, risk adjustment and enhance their operations."
Founded in 2014, Centauri offers services, private cloud-based software solutions and data management to help health plans and at-risk providers close risk adjustment and quality care gaps. The company recently received a $50 million investment commitment from Silversmith Capital Partners. Centauri is actively using the capital to continue to grow its operations in Scottsdale, Nashville and Orlando, and is on track to double in size this year.
IMI Health will join Centauri's new technology center in Nashville, where the majority of the company's products and services will be developed. In March 2016, The National Committee for Quality Assurance (NCQA) announced IMI earned certification for their software code related to the Healthcare Effectiveness Data and Information Set (HEDIS®). IMI's health plan and provider clients serve nearly four million lives.
"IMI Health and Centauri have a great deal in common, and our proven ability to help clients measurably improve their quality programs, combined with our 11 consecutive years of HEDIS Certification, are great complements to Centauri's technology platform and data-driven and client-focused development philosophy," said IMI Health CEO Leon Dowling, who will lead the evolution of the Centauri quality product suite. "By joining forces, we have great opportunities to build upon our collective strengths and bring unmatched quality programs to the healthcare sector."
"The acquisition of IMI supports Centauri's thesis of offering a tightly integrated solution across revenue and quality programs for our clients," said Michelle Miller, Chief Technology Officer of Centauri. "IMI's technology framework aligns well with Centauri's delivery platform, allowing us to rapidly publish our combined capabilities to our clients and to continue to push innovation in the market."
The financial terms of the acquisition were not disclosed.
About Centauri Health Solutions Centauri Health Solutions focuses on revealing care opportunities through its suite of products and services. Delivering data-driven services through private cloud-based software solutions, the firm provides comprehensive data management designed specifically for risk adjustment and quality-based revenue programs. Centauri improves member outcomes and financial performance for health plans and at-risk providers by supporting initiatives in risk adjustment, RADV risk mitigation, HEDIS and Star Ratings. Headquartered in Scottsdale, Ariz., Centauri Health Solutions also has offices in Nashville, Tenn., and Orlando, Fla. For more information, visit www.centaurihs.com.
About IMI Health IMI Health has transformed healthcare data for millions of members into reliable, actionable information. Their core business is focused on supporting quality teams at health care organizations to quickly and accurately produce HEDIS reports and to identify gaps in care throughout the year. IMI's Quality Solution Suite provides comprehensive quality performance auditing and management that delivers enterprise-wide business enhancement and compliance with quick and accurate results. IMI Health has more than 20 years of experience working with various types of input and output data to collect, measure and report to NCQA, as well as share results with providers, consumers, employers and regulatory agencies. For more information, visit www.imihealth.com.
About Silversmith Capital PartnersFounded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $460 million of capital under management. Silversmith's mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The firm seeks to invest $15 million to $50 million per company, with the ability to increase the equity commitment in select situations. The founders have over four decades of collective investing experience and have served on the boards of numerous successful growth companies including Ability Networks, Accelecare Wound Centers, Dealer.com, Liazon, Liberty Dialysis, MedeAnalytics, MedHOK, National Cardiovascular Partners, Net Health, Passport Health, SurveyMonkey, Wrike and Yapstone. For more information, visit www.silversmithcapital.com.
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SOURCE Centauri Health Solutions
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