Odyssey Investment Partners has agreed to sell workers’ compensation service provider One Call Care Management to Apax Partners. Financial details of the transaction were not disclosed.
Odyssey Investment Partners, LLC, today announced that it has signed a definitive agreement to sell its portfolio company One Call Care Management (“One Call” or the “Company”) to Funds advised by Apax Partners. Financial terms of the transaction were not disclosed.
Based in Jacksonville, Florida, One Call is the nation’s leading provider of specialized cost containment services to the workers’ compensation industry. In December 2009, Odyssey acquired One Call Medical which was merged with MSC Care Management in August 2012 to form One Call Care Management. Over the last four years, the Company has grown both organically and through acquisitions to establish market leadership across multiple segments of the workers’ compensation landscape.
“It has been a privilege to work with Joe Delaney and the entire One Call team,” said Jeffrey McKibben, a Managing Principal at Odyssey. “We believe the Company has a long runway of future growth and we wish the team continued success.”
Mr. Delaney added, “We have enjoyed our partnership with Odyssey during which we worked together to transform our company into the industry leader. As a result of our collaborative efforts, we have deepened the value that we bring to our customers, network partners and injured workers through our suite of world-class services that support faster, more efficient and more cost-effective resolution of claims. We have created a new standard of performance in workers’ compensation and are excited about the future with Apax Partners.”
Completion of the transaction, which is expected to occur in the fourth quarter of 2013, is subject to regulatory approvals and customary closing conditions.
Jefferies served as the exclusive financial advisor and Latham & Watkins LLP served as legal advisor to One Call Care Management in connection with this transaction.
About Odyssey Investment Partners
Odyssey Investment Partners, LLC, with offices in New York and Los Angeles, is a leading middle-market private equity firm with approximately $3.0 billion under management. Odyssey Investment Partners primarily makes control investments typically in established middle-market companies in a variety of industries. For further information about Odyssey Investment Partners, please visit www.odysseyinvestment.com. The firm can be reached in New York at 280 Park Avenue, New York, NY 10017 or (212) 351-7900; and in California at 21650 Oxnard Street, Woodland Hills, CA 91367 or (818) 737-1111.
About One Call Care Management
One Call Care Management is the nation’s leading provider of specialized services to the workers’ compensation industry that lead to faster, more efficient and more cost effective claims resolution. From high-end diagnostics and physical therapy services, to post-discharge and in home and complex care management, to transportation and language services, to superior dental programs and other medical specialties, One Call provides reliable, consistent connections to care that enable maximum medical improvement and superior outcomes. For more information, visit www.onecallcm.com.
About Apax Partners
Apax Partners is one of the world’s leading private equity investment groups. It operates globally and has more than 30 years of investing experience. Funds advised by Apax Partners total more than $40 billion around the world and invest in companies across four global sectors of Healthcare, Consumer, Services, and Tech and Telecom. These funds provide long-term equity financing to build and strengthen world-class companies. Apax has a successful track record of investing in the Healthcare sector including KCI, Trizetto, and Magnacare in the US, Capio, Unilabs, and Mölnlycke in Europe and Apollo Hospitals in India. Funds advised by Apax have invested approximately $4.2 billion in healthcare Buy-outs since 2001. For further information about Apax, please visit www.apax.com.