Teleo Capital Management has acquired CHCS Services Inc from Capgemini America Inc. No financial terms were disclosed. CHCS is a technology-enabled third-party administrator for the senior health and eldercare markets.
BOISE, Idaho, March 23, 2022 /PRNewswire/ — TELEO Capital Management, LLC (“TELEO”) announced the acquisition of CHCS Services, Inc. (“CHCS”) from Capgemini America, Inc. CHCS is a leading technology-enabled third-party administrator (TPA) for the senior health and eldercare markets.
CHCS specializes in supplemental health care solutions for senior markets with a focus on long term care (LTC) and Medicare Supplement (MedSup) plans. CHCS provides third-party administration and support as well as customized care management solutions and services for accident and health, disability, all Medicare supplement plans, and other forms of supplemental insurance policies for global insurance carriers.
“We have put in place a highly experienced senior leadership team and are investing in a true digital transformation that harnesses the power of data science and development of a rich data lake to improve outcomes for carriers and their policyholders,” said Paul Gille, Operating Partner at TELEO Capital and now CEO of CHCS. “CHCS is changing the dynamics of engagement with customers through a combination of people and technology. Self-service, high tech, high touch, and specialized services are at the forefront of this transformation.”
“CHCS is one of the leaders in the insurance TPA market and has built an innovative platform for Medicare and LTC providers. We are extremely excited to support CHCS in this next stage of growth,” stated TELEO Capital.
About CHCS Services
CHCS Services, Inc. has been serving as the nation’s leading full-service senior market solutions provider for over 25 years. CHCS’ solutions span the insurance senior market sector. Focusing on long term care and Medicare Supplement plans, CHCS also addresses challenges faced in accident and health, disability, and the various other supplemental insurance programs. As a leading third-party administrator, CHCS becomes an extension of the client’s organization and brand. CHCS has offices in Boise, ID and Pensacola, FL.
For additional information, please visit: www.chcs-services.com.
About TELEO Capital
TELEO Capital is a lower middle market private equity firm that looks to invest in opportunities where its strategic thought, operational resources, and capital base empower management to perform and execute their business plan. TELEO brings a successful track record of executing corporate carve-outs, recapitalizing broken balance sheets, acquiring founder-owned companies, and implementing buy and build strategies for its portfolio companies. TELEO targets opportunities in the technology and software, healthcare IT, business services, and industrial sectors. The firm is headquartered in Boise, ID with an additional office in Los Angeles, CA.