Beecken Petty O’Keefe & Company has acquired a majority equity interest in Examination Management Services (EMSI).
EMSI is an outsourced service provider of medical information, risk adjustment and investigative services to insurance companies, health insurers, and employers. The company’s main services are in the areas of surveillance, claims investigations, fraud abatement, and pre-employment screening. EMSI’s customers include Medicare Advantage and commercial health plans, life insurance and property and casualty insurance companies, academic research institutions, and major public and private corporations. The company is headquartered in Scottsdale, AZ (www.emsinet.com).
As part of this transaction, President and CEO Mark Davis and EVP Rob Brook will retire from their positions with EMSI following a transition period. James Calver will become the new CEO of the company. Mr. Calver has more than 25 years of experience in health care strategy, executive management and operations. Mr. Calver is the former CEO of Hooper Holmes, a healthcare and insurance services company (www.hooperholmes.com). He also founded and was the Managing Partner of Allexian, a healthcare advisory company (www.allexian.com).
Monroe Capital – an active lender to private equity sponsors – provided a $22.5 million senior credit facility to support the acquisition of EMSI. Monroe provides senior and junior debt and will also make equity co-investments in select situations. The firm was founded in 2004 and maintains offices in Chicago, Atlanta, Boston, Charlotte, Dallas, Los Angeles, New York and San Francisco (www.monroecap.com).
Beecken Petty O’Keefe & Company (BPOC) invests in middle-market buy-out transactions, recapitalizations, and growth platforms in the health care industry. The firm is currently investing out of its fourth investment fund, Beecken Petty O’Keefe & Company Fund IV, LP, a $500 million investment fund raised in 2013. BPOC was founded in 1996 and is headquartered in Chicago (www.bpoc.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 11-6-15