5th Century Partners acquires provider data management firm Perspecta

• DLA Piper served as legal counsel to 5th Century Partners and CIBC Innovation Banking provided debt financing to support the transaction
• Canaccord Genuity was the sell-side advisor to the transaction
• 5th Century Partners invests in middle-market companies within healthcare, consumer and business services

5th Century Partners has acquired Perspecta, a Philadelphia-based provider of physician directories and data management solutions in workers’ compensation, government and commercial healthcare. No financial terms were disclosed.

“There are critical conversations happening across the healthcare ecosystem calling for better cost containment and price transparency. We expect these trends to continue and believe Perspecta has the solutions to help the industry meet these needs,” said Marques Torbert, managing partner at 5th Century Partners, in a statement. “I’ve known the Perspecta team for a decade, and the company’s experienced leaders have the ability to understand the opportunities and execute. We’re pleased to formalize our relationship as we work together to continue to grow the business and contribute to moving the healthcare industry forward for the benefit of all stakeholders.”

In partnership with 5th Century Partners, Perspecta’s current President and CEO Howard Koenig and co-founder and Chief Operating Officer April Stiles will continue to lead the day-to-day business operations, while maintaining equity ownership in the business.

DLA Piper served as legal counsel to 5th Century Partners while CIBC Innovation Banking provided debt financing to support the transaction. Canaccord Genuity was the sell-side advisor to the transaction.

5th Century Partners invests in middle-market companies within healthcare, consumer and business services.