Arsenal Capital Partners has acquired TractManager, a provider of technology-enabled compliance and business process improvement services for healthcare organizations. An investment group led by Thomas Rizk, founder and CEO of TractManager, will maintain a significant investment in the company and he will continue in his capacity as CEO.
“We are delighted to welcome TractManager to our family of healthcare portfolio companies. The company maintains a sterling reputation as the most reliable, user-friendly, and easy-to-implement system of its type in the world, as evidenced by its unparalleled growth and high level of client satisfaction,” said Stephen McLean, a Partner at Arsenal and Co-Head of the firm’s Healthcare Group. “Our healthcare partners look forward to collaborating with the TractManager team in support of its mission to provide healthcare customers with world-class solutions and services.”
TractManager is a provider of technology, systems, and services to healthcare companies which include contract management, compliance, and business intelligence. The company works with more than 6,000 healthcare facilities and over 130,000 users across the United States and international markets. TractManager has offices across the United States, as well as in Bogota, Colombia, and Rio De Janeiro, Brazil. The company was founded in 2000 and is based in Chattanooga, TN (www.meditract.com).
“I am looking forward to joining forces with Arsenal Capital,” said Mr. Rizk. “Our combined efforts will result in a company that has global reach, deep penetration of the healthcare market, and a broad technology platform from which to launch further initiatives. In addition to making a significant capital investment in the company, Arsenal brings a comprehensive understanding of the healthcare marketplace, extensive healthcare relationships, and wealth of executive experience that will contribute significantly to the growth of the company. Arsenal’s portfolio experience in healthcare compliance will also assist in accelerating TractManager compliance efforts in previously unexplored areas.”
Arsenal Capital Partners makes investments in middle-market specialty industrial, healthcare and financial services companies with $50 million to $400 million in enterprise value. The firm invests in niche industry sectors where it has prior experience and where its operating resources can help facilitate incremental growth and margin improvement. Industries of specific interest include: specialty & fine chemicals; segments of healthcare; transportation and logistics; power generation; aerospace & defense; process industry components and services; and financial services. Arsenal currently has $1.4 billion of committed equity capital and is based in New York (www.arsenalcapital.com).
Dr. Donald Deieso, Operating Partner and Co-Head of Arsenal’s Healthcare Group will serve on the board of directors of the company. “Our investment in TractManager highlights Arsenal’s focus on building a strategic portfolio of world-class companies that address the compliance and business improvement needs within healthcare. We are committed to applying Arsenal’s financial resources, executive experience, and industry relationships in assisting TractManager implement its growth strategy,” said Dr. Deieso.
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-7-13
