Gryphon Investors said Sept. 30 that it agreed to sell its portfolio company ECG Management Consultants to Siemens Medical Solutions USA Inc, a subsidiary of Siemens Healthineers AG. Financial terms weren’t announced. ECG, of San Diego, provides strategic, operational, financial, and technology-related consulting services to health systems, hospitals, medical groups, and academic medical centers.
Gryphon Investors Announces Pending Sale of ECG Management Consultants
September 30, 2019 (San Francisco) – Gryphon Investors (“Gryphon”), a San Francisco-based middle-market private equity firm, announced today that it has entered definitive documentation to sell its portfolio company ECG Management Consultants (“ECG” or “the Company”) to Siemens Medical Solutions USA, Inc., a subsidiary of Siemens Healthineers AG. Terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of this year, subject to customary regulatory approvals. Gryphon acquired the Company in November 2014.
One of the nation’s leading consulting firms, ECG provides specialized strategic, operational, financial, and technology-related consulting services to health systems, hospitals, medical groups, and academic medical centers. During Gryphon’s ownership, the Company achieved strong organic growth through several key operational initiatives and completed the strategic acquisitions of the healthcare division of Kurt Salmon US, Inc., and Eveia Health Consulting & Management. ECG will operate as a stand-alone unit within Siemens Healthineers.
Nick Orum, President and Head of Gryphon’s Healthcare Group, said, “The ECG investment is a great example of Gryphon’s strategy of backing talented management teams and industry executives who are building market leaders, and we have enjoyed working closely with this team as they evolved their business model, pursued organic growth, and made strategic add-on acquisitions.”
Luke Schroeder, Principal in Gryphon’s Healthcare group, added, “ECG is sure to thrive with its new partners as it builds on its established foundation and continues to elevate its leading brand.”
William Blair & Company acted as financial advisor to ECG on the transaction. Kirkland & Ellis LLP was legal advisor to ECG.
Founded in 1973 and based in San Diego, CA, ECG Management Consultants provides management consulting services in the areas of strategy, finance, operations and technology. ECG serves many of the leading U.S. hospitals, health systems, academic medical centers and children’s hospitals. ECG has offices in Atlanta, Boston, Chicago, Dallas, Minneapolis, San Diego, San Francisco, Seattle, St. Louis, and Washington, D.C.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $4.9 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $100 million to $300 million in portfolio companies with sales ranging from approximately $100 million to $500 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.