Diamond Castle has sold its portfolio company Managed Health Care Associates, a health care services and technology company, to Roper Industries.
Managed Health Care Associates (MHA) provides health care services to alternate site health care (non-hospital) providers. Services include group purchasing, managed care and payer contracting, reimbursement management, specialty pharmacy, pharmaceutical data analytics, and clinical pharmacy software. MHA is the largest group purchasing organization (GPO) in the non-hospital market, 3rd largest pharmaceutical GPO across all segments, and 6th largest GPO in the U.S. facilitating over $5 billion of annual purchases. The company is based in Florham Park, NJ (www.mhainc.com).
“This is an exciting day for MHA,” said MHA’s President Mike Sicilian. “Having been owned by different private equity companies since the late 1990’s, MHA now has a permanent home within the Roper family of companies. We are confident that being part of Roper will help us continue to expand the scope of services we provide for our members and continue to grow our business. I am looking forward to working with Roper and the rest of the MHA senior leadership team to continue our mission of being the leading service and technology company to alternate site health care providers and to assisting our members manage their businesses as they provide critical services to their patients.”
Roper Industries designs, manufactures and distributes radio frequency products, services and application software, industrial technology products, energy systems and controls and medical and scientific imaging products and software. The company is based in Sarasota, FL (www.roperind.com).
Diamond Castle invests from $50 million to $200 million in companies operating in the energy & power, financial services and healthcare sectors. The firm was founded in 2004 and has $1.8 billion of capital under management. Diamond Castle is headquartered in New York (www.dchold.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-3-13