WindRose Health Investors completed the sale of a majority of all the assets of portfolio company Trust Healthcare Consulting Services. WindRose sold the assets to a healthcare joint venture between Carlyle Group and Cannae Holdings. Terms of the deal were not disclosed. WindRose completed its majority investment in TrustHCS in September 2015.
WindRose Health Investors, LLC (“WindRose”), the New York-based healthcare private equity firm, announced that it has completed the sale of substantially all of the assets of its portfolio company, Trust Healthcare Consulting Services, LLC (“TrustHCS” or the “Company”), to a healthcare joint venture established by an affiliate of The Carlyle Group and Cannae Holdings. Terms of the transaction were not disclosed.
TrustHCS is a provider of staffing and advisory services for coding, clinical documentation improvement (“CDI”), denial management, and coding education solutions. TrustHCS leverages its team of 500+ professionals to provide best-in-class solutions that enable its clients to accelerate revenue cycle, improve revenue integrity, and reduce operating costs. WindRose completed its majority investment in TrustHCS in September 2015.
“We are proud to have partnered with the TrustHCS management team as they expanded their capabilities over the last four years,” said Alex Buzik, Partner of WindRose. “TrustHCS’ reputation for high quality solutions made it an ideal investment platform as we pursued our initiative in revenue cycle management, and we look forward to seeing TrustHCS continue to thrive under its new ownership.”
“WindRose was a dedicated partner, and we are grateful for their commitment to improving and growing our business,” said Torrey Barnhouse, CEO of TrustHCS. “With this new partnership we will have even greater resources and infrastructure to continue to provide significant value and unmatched service to our clients.”
Houlihan Lokey, Inc. served as sole financial advisor, and McDermott Will & Emery LLP served as legal advisor to TrustHCS on the transaction.
About Trust Healthcare Consulting Services
Trust Healthcare Consulting Services, headquartered in Springfield, Missouri, is a provider of staffing and advisory services that improve the financial strength of healthcare organizations. The Company’s services and oversight improve the reliability, integrity and security of our clients’ financial health and enables clinicians, HIM, revenue cycle and clinical documentation improvement leaders gain visibility, insight and control of financial outcomes associated with every patient encounter. For further information, please visit www.trusthcs.com.
WindRose Health Investors, LLC makes equity investments in companies that operate within the services sectors of the healthcare industry. We focus on companies with profitable business models and a demonstrated ability to deliver cost-effective solutions. WindRose manages over $1.2 billion in investments and is currently investing out of its fifth fund. We are based in New York City and invest in companies throughout the United States.