Brazos Private Equity Partners has completed the sale of its portfolio company Healthcare Solutions to Catamaran Corporation in an all cash transaction valued at $405 million. Brazos first invested in Healthcare Solutions in 2006.
Healthcare Solutions provides medical cost management services to over 800 customers in the workers’ compensation and auto liability markets. The company’s services include pharmacy benefit management, specialty healthcare services, PPO networks, medical bill review, case management and Medicare set-aside services. Customers of the company include insurance carriers, third-party administrators, self-insured and governmental entities. Healthcare Solutions is headquartered northeast of Atlanta in Duluth, GA (www.healthcaresolutions.com).
“We are very pleased to complete this successful investment in Healthcare Solutions. Together with the leadership team at Healthcare Solutions, we have accomplished our goal of building the company into a market leader. Healthcare Solutions has a very exciting future ahead and we wish everyone associated with the business continued success as they move forward as a part of Catamaran,” said Jeff Fronterhouse, Co-Chief Executive Officer and Co-Founding Partner of Brazos.
Since entering into the agreement to acquire Healthcare Solutions, publicly traded Catamaran Corporation (NASDAQ: CTRX) entered into an agreement on March 30 to be acquired by UnitedHealth Group in an all-cash transaction worth nearly $13 billion.
Brazos makes equity investments of $25 million to $100 million in middle-market companies with enterprise values from $50 million to $500 million. Sectors of interest include consumer, healthcare, commercial & industrial, and business services. Brazos has approximately $1.4 billion of equity capital under management and is based in Dallas (www.brazospartners.com).
Harris Williams & Co. and J.P. Morgan Securities served as financial advisors to Healthcare Solutions.
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-10-15
