Arcadia Solutions, a provider of data-driven health IT services, has been acquired by Ferrer Freeman & Company and members of the Arcadia senior management team.
Arcadia Solutions is a provider of data-driven Health IT services that engages with both payors and providers to design, implement, and manage healthcare information technology infrastructure and applications in ambulatory settings. Customers include large healthcare providers, payors, accountable care organizations and health information exchanges. The company was founded in 2002 and is based in Burlington, MA (www.arcadiasolutions.com).
“Providers and payors must include physicians in system-wide IT platforms in order to succeed in today’s rapidly evolving healthcare industry. Arcadia’s solutions enable its customers to do just that,” said Carlos Ferrer, co-founder of Ferrer Freeman. “We are excited to work with Arcadia’s management team to build upon their accomplishments and help them to realize the company’s significant potential.”
Carlos Ferrer, David Freeman and Ted Lundberg of Ferrer Freeman will join Arcadia’s Board of Managers. In addition, Jim Crook, a healthcare IT industry veteran who was CEO of IDX Systems when it was sold to GE Healthcare for $1.2 billion, will also join the Board.
“When evaluating strategic partners, it was important for us to find an investor with deep experience and a broad network in the healthcare industry as Arcadia enters the next phase of growth and establishes its position as a national player,” said Seth Henry, Founder and President of Arcadia. “Ferrer Freeman shares our vision for the future of Arcadia. Our customers have validated the increasing need for a national firm that can optimize results by delivering clinical IT to the ambulatory market. With Ferrer Freeman’s relationships and expertise, we will continue to expand and enhance our presence.”
Ferrer Freeman & Company makes growth capital investments in the healthcare industry. Since its founding in 1995, the firm has invested over $900 million in 36 portfolio companies. Ferrer Freeman is based in Greenwich, CT (www.ffandco.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-14-12
