Carousel Capital has sold MedData LLC, a provider of healthcare transaction processing, to TransUnion LLC. No financial terms were disclosed. Harris Williams & Co. advised MedData on the deal.
Harris Williams & Co. is pleased to announce that MedData LLC, a division of AGDATA, L.P., and a portfolio company of Carousel Capital, has been acquired by strategic buyer TransUnion LLC. Harris Williams & Co. acted as the exclusive advisor to MedData. The transaction was led by David Joncas, Garin Arevian and Rahul Swani from the firm’s Technology, Telecom & Digital Media (TTDM) Group and Turner Bredrup and David Keys from the firm’s Healthcare & Life Sciences Group.
“MedData has a long-standing track record of delivering strong growth and the highest levels of customer satisfaction, and the MedData management team has done a remarkable job executing on a bold and compelling strategic vision. We’re very excited about the transaction and believe the combination of MedData and TransUnion will create a powerful, new healthcare IT platform that is well positioned for strong growth and innovation,” said David Joncas, managing director and co-head of Harris Williams & Co.’s TTDM Group. Harris Williams & Co. has completed six healthcare IT transactions in just over a year, having also represented HealthMedia, Gateway EDI, Dolphin Imaging, Catalyst Technologies and Navicure.
MedData LLC (www.meddatahealth.com), a leading provider of healthcare transaction processing and informatics solutions, offers a broad range of eligibility verification, claims status inquiry, encounter data management and HEDIS (Healthcare Effectiveness Data and Information Set) reporting solutions to healthcare providers and payers nationwide. AGDATA, L.P. (www.agiml.net ) is a leading provider of outsourced database management, marketing program administration, data collection and data analysis services to the agriculture/crop protection, animal health and healthcare industries.
Carousel Capital (www.carouselcapital.com) is a private investment firm that invests in companies located in the Southeastern United States. Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs with significant operating experience. Since its inception, Carousel has invested in 28 companies primarily in three targeted growth sectors: business services; consumer products and services; and healthcare services
As a global leader in credit and information management, TransUnion (www.transunion.com) creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion employs associates in more than 25 countries on five continents.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is the premier middle market advisor with a two decade legacy of sell side excellence serving clients worldwide. The firm is focused exclusively on the middle market providing sell side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
The firm’s TTDM team focuses on software, IT services, communications, and digital media, and has been particularly active in the healthcare IT sector. For more information, contact Jeff Bistrong or David Joncas in Boston at +1 617-482-7501, Jim Reinhart in San Francisco at +1 415-288-4260, or Thierry Monjauze in London at +44 203 170 8838.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, an Appointed Representative of Sturgeon Ventures LLP, which is authorised and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business in the U.S. and Europe, respectively.