Centauri Health Solutions, which is backed by Abry Partners, Silversmith Capital Partners and SV Health Investors, has acquired Virginia-based Ivy Ventures LLC, a healthcare growth solutions company. No financial terms were disclosed.
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Centauri Health Solutions (“Centauri”), an innovative healthcare technology and services company, announced today that it has acquired Ivy Ventures, LLC (“Ivy”), a Virginia-based healthcare growth solutions company focused on developing referral-driven service lines and improving care coordination. This addition expands Centauri’s comprehensive hospital solutions offerings, which already include Medicaid and Disability Eligibility and Enrollment, Out-of-State Medicaid Billing, and Revenue Cycle Analytics.
Founded in 2003, Ivy deploys an IP-enabled services model allowing major hospital networks to scale physician referral functions to grow referral driven service lines. Ivy utilizes a proprietary scheduling, analytics, and outreach platform to improve the experience and success rate of the referral process. Ivy’s data-driven process and insights deliver meaningful growth and improve user experience for their hospital and physician networks.
“Ivy is pleased to be joining a company with a similar foundation in leveraging technology and exceptional service to provide the best marketplace solutions,” said Roger Johnson, a founding partner of Ivy Ventures. “We look forward to offering Centauri’s unparalleled suite of revenue cycle optimization solutions to our long-term marquee clients to support their revenue growth in new ways.”
For Centauri, the addition of Ivy marks its fourth strategic acquisition in the hospital sector in less than 12 months. In December 2019, Centauri acquired Integrated Health Management Services, a Phoenix-based provider of revenue-cycle management services. Earlier this year, Centauri acquired HCFS, a Texas-based provider of self-pay management solutions, and AppRev, a Texas-based healthcare revenue cycle analytics company.
“Adding Ivy’s industry-leading referral management and analytics offerings to our growing portfolio expands the breadth and depth of our revenue cycle optimization solutions,” said Adam Miller, Centauri CEO and co-founder. “As we join forces with companies with complementary strengths, our goal is to provide our present and future health system clients with a full suite of services enabling them to streamline their vendor management processes and create efficiencies.”
The combined organization will be led by Miller, with Ivy’s founding partners, Johnson and Douglas Wetmore, and partners, Milan diPierro and Barrett Clark, joining Centauri’s management team.
The Ivy transaction was supported by Centauri’s lead investor, Abry Partners, and its other key investors, Silversmith Capital Partners and SV Health Investors. 7 Mile Advisors acted as the exclusive sellside advisor to Ivy. Weiss Brown LLP served as legal counsel to Centauri. Whiteford Taylor Preston was legal counsel to Ivy. Financial terms of the acquisition were not disclosed.
About Centauri Health Solutions
Centauri Health Solutions provides services to payors and providers across all healthcare programs, including Medicare, Medicaid, Commercial and Exchange. In partnership with our clients, we improve the lives and health outcomes of the members and patients we touch through compassionate outreach, sophisticated analytics, and data-driven solutions. Our services directly address complex problems such as uncompensated care within health systems; appropriate, risk-adjusted revenue for specialized sub-populations; and improve access to and quality of care measurement. Headquartered in Scottsdale, Ariz., Centauri Health Solutions employs 1,700 dedicated associates across the country. Centauri has ranked in the Top 500 on Inc. Magazine’s 2019 and 2020 Inc. 5000 lists of the fastest-growing private companies in the U.S. For more information, visit www.centaurihs.com.
About Abry Partners
Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since their founding in 1989, the firm has completed over $82.0 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across their active funds. For more information on Abry, please visit www.abry.com.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid, Impact, LifeStance Health, MediQuant, Panalgo, Unily, Validity, and Webflow. The partners have over 75 years of collective investing experience and have served on the boards of numerous successful growth companies including ABILITY Network, Archer Technologies, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith, please visit www.silversmithcapital.com.
About SV Health Investors
SV Health Investors is a leading healthcare fund manager investing in tomorrow’s healthcare breakthroughs. SV invests across stages, geographic regions and sectors, with expertise spanning healthcare services / technology, medical products, biotechnology, dementia and public equities. With approximately $2.2B in assets under management and offices in Boston and London, SV has built an extensive network of investment professionals and experienced industry veterans. Since its founding in 1993, SV has invested in more than 175 companies, with more than 75 of these having achieved successful acquisitions or IPOs. For more information, please visit www.svhealthinvestors.com.