PE-backed SpendMend buys Contract Management Strategies

SpendMend, a portfolio company of Sheridan Capital Partners, has acquired Contract Management Strategies. Financial terms weren’t announced. Contract Management, of Irvine, California, provides audit recovery and professional services.

PRESS RELEASE

Sheridan Capital Partners’ Portfolio Company SpendMend
Acquires Contract Management Strategies

SpendMend, a portfolio company of Sheridan Capital Partners, announced today the acquisition of Contract Management Strategies (“CMS”).  Founded in 2002 by Clayton Hale and headquartered in Irvine, California, CMS provides audit recovery and professional services for its clients with specialization in Accounts Payable Audit Recovery, Sales & Use Tax Consulting and Audit Recovery, Pharmacy Audit Recovery & Price Reduction, Medical Device Audit Recovery and Tracking.

“We are pleased to be able to bring these two organizations together,” commented Dan Geelhoed, CEO of SpendMend.  “Together we are able to bring SpendMend’s spend visibility, technology and analytics to the CMS client base, open up CMS’ broad array of services to our valued clients here at SpendMend, and add a very talented group of professionals to our growing team.”

Clayton Hale, President, and CEO of CMS agreed, “We are excited to leverage the SpendMend infrastructure and proprietary audit processes in combination with the healthcare recovery areas unique to CMS to better service our clients.  The combination results in a broader and more efficient experience for all of our clients.”

Sean Dempsey, Partner with Sheridan Capital Partners, added, “We partnered with SpendMend in January 2018 to help advance the Company’s position in the audit recovery market and accelerate its growth plan to offer a broader suite of cost optimization solutions to its customers.  The CMS acquisition is a meaningful step forward in executing on this strategy and expands SpendMend’s services into the areas of tax, medical device and pharmacy. We are excited to bring these capabilities to our valued customers.”

About SpendMend
SpendMend provides cost recovery and spend visibility services to healthcare clients nationwide.  Through the use of data, technology and rigorous analytics, SpendMend is able to identify gaps in processes that cause financial “leakage” for organizations.  Once identified, SpendMend utilizes this information to actively recover excess spend for its customers and also provides benchmarking, analytics and actionable insights.  By working closely with clients, SpendMend is a trusted partner, helping illuminate the path to prevention for financial “leakage”. For more information, visit www.spendmend.com.

About Sheridan Capital Partners
Sheridan Capital Partners (“SCP”) is a Chicago-based private equity firm founded in 2012. SCP focuses on lower middle market buyouts and growth equity investments across the consumer health sector in the U.S. and Canada with enterprise values from $25 million to $150 million, bringing strategic resources to management teams and owners to help accelerate growth, build enduring value, and achieve strong results. For more information, please visit www.sheridancp.com