LLM Capital Partners Acquires Best Practice Disease Management
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LLM Capital Partners Acquires Best Practice Disease Management

LLM Capital Partners has acquired Best Practice Disease Management, a provider of in-home health risk assessments, in partnership with Hickory Ridge Capital and John Shermyen, founder and former CEO of LogistiCare.  Certain former shareholders of Best Practice Disease Management were also co-investors.

Best Practice Disease Management is a provider of in-home health risk assessments for Medicare Advantage Plans.  The investment was made through a newly formed holding company, Ingenios Health Holdings.  The company will be operated as Ingenios Health (www.ingenioshealth.com) and is based in Boston, MA.

Concurrent with the closing of the investment, Mr. Shermyen was named chairman and chief executive officer of Ingenios Health.  Mr. Shermyen founded LogistiCare, a provider of non-emergency transportation management solutions for state government and commercial payers, and served as its president and CEO from 1994 to 2009.

“LLM’s principals are excited to once again partner with John Shermyen and assist in the building of a company that effectively contributes to lowering the rising cost of healthcare,” said Rick Moseley, managing director at LLM.

LLM Capital Partners makes growth equity investments of $5 million to $15 million in companies with enterprise values of $15 million to $250 million.  Sectors of interest include healthcare services, business services and niche manufacturing.  The firm is based in Boston, MA (www.llmcapital.com).

Hickory Ridge Capital invests in technology-enabled, early-growth stage healthcare services companies.  The firm was formed in 2011 by John McDaniel, former chairman and chief executive officer of MedStar Health, a $4 billion not-for-profit regional healthcare system, and Jeffrey Harvey. Hickory Ridge Capital is based in Washington, DC (www.hickoryridgecapital.com).

“Ingenios is ideally positioned to offer transitional care and chronic care management services to help payors manage their members more efficiently, which is particularly important amid today’s changing healthcare models,” said Mr. McDaniel.

© 2012 PEPD • Private Equity’s Leading News Magazine • 11-8-12

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