Precyse Enters into Acquisition Agreement with Pamplona Capital Management
Health Information Management Leader Poised to Implement Next Phase of Growth
Wayne, PA Jul 1, 2015 – Precyse, a leader in health information management (HIM) technology, services and education, announced today that, as part of its long term growth plan, the company has entered into an agreement to be acquired by investment firm Pamplona Capital Management (Pamplona). Precyse’s board and their current outside private equity investors, Altaris Capital Partners and NewSpring Capital, have approved this corporate transaction.
Precyse, founded in 1999, has assisted nearly 5,000 healthcare facilities and systems across the United States to improve efficiency and deliver tangible outcomes. The company delivers a robust combination of experienced, highly trained people; premier technology solutions; and industryleading education, targeted at all clinical and financial aspects of Health Information Management. Collectively, this equips healthcare organizations to achieve enhanced, sustainable operational performance.
“We are delighted to be partnering with Pamplona at this exciting time in Precyse’s evolution,” said Precyse CEO, Chris Powell. “Precyse offers a wide range of services, education and technology solutions to help healthcare organizations thrive. Pamplona will help us meet our long term growth objectives as we continue to build out our current successful model and expand our offerings in the future to help healthcare organizations reach new levels of operational success.”
Dr. Jeremy Gelber, Pamplona Capital Management partner and leader of the investment, is equally thrilled about the transaction, “Precyse has established itself as a leader in Health Information Management with the ability to fully outsource HIM departments, provide services or technology on an as-needed basis, and supply educational tools to help hospitals achieve better outcomes. We and Precyse have a shared vision in expanding the business beyond the company’s traditional offerings into other areas that positively impact providers’ clinical and financial outcomes, both in Health Information Management and beyond.”
Adds Powell, “I am excited to have the financial resources and talent that Pamplona brings to Precyse which enables us to continue to deliver on our commitments to our clients and allows us to bring new and valuable solutions to our market as we evolve in today’s dynamic healthcare environment. I am proud of our people who have demonstrated their unwavering dedication and hard work to put Precyse in this fortunate position of our corporate evolution and grateful to Altaris Capital Partners and NewSpring Capital for their support throughout this process. Our commitment to our clients remains our number one priority.”