Consonance Capital Partners has completed the acquisition of KEPRO, a medical management and cost containment services provider, from The Pennsylvania Medical Society.
“KEPRO is an established national brand with an unparalleled reputation for quality in the medical management space, an area that will continue to experience strong demand as a result of shifting reimbursement models and changing regulatory requirements,” said Stephen McKenna, Managing Partner of Consonance Capital Partners. “We believe that KEPRO, with its world class employee base and talented management team, is poised for the next level of growth, and our investment and support for the business will help facilitate that success.”
KEPRO is a medical management and cost containment services provider for government and private sector clients in the healthcare sector. KEPRO is URAC accredited in case management, health utilization management, and disease management. Kepro was founded in 1985 and is headquartered in Harrisburg, PA. The company also has offices in Florida, Minnesota, Ohio, Tennessee, Virginia, and Illinois (www.kepro.com).
“We are confident that Consonance’s national reach as well as its financial and healthcare-specific industry expertise will solidify our commitment to our government and private sector customers, while improving outcomes for their members. This partnership will also enable us to accelerate our pace of expansion and contribute to the development of innovative products and services to complement our integrated suite of medical review and care management solutions,” said Joe Dougher, President and CEO, KEPRO.
Consonance Capital invests in healthcare companies that have revenues between $20 million and $150 million. Sectors of particular interest include providers (specialty providers, inpatient and outpatient facilities); payors (commercial, Medicare, Medicaid, and carve outs); distribution (pharmaceuticals, products, and specialty); devices (commercialized products); specialty pharmaceuticals (commercialized and later-stage development products); outsourced services (servicing managed care, pharma, and providers); and healthcare information technology. Consonance Capital was founded in 2005 and is based in New York (www.consonancecapital.com).
The Pennsylvania Medical Society is comprised of 20,000 physicians and medical students working together to represent physicians in public venues, including the government, insurance companies, and the media, in order to advocate for patients and advance public health, public policy, medical science, education, and ethics. The society is based in Harrisburg, PA (www.pamedsoc.org).
Consonance Capital Partners was advised by Latham & Watkins; Foley & Lardner; and Hogan Lovells US. The Pennsylvania Medical Society was advised by McNees, Wallace & Nurick. Fairmount Partners acted as the investment banker for the transaction.
2014 PEPD • Private Equity’s Leading News Magazine • 5-30-14
