M&A Deal Summary

CareCloud Acquires Meridian Medical Management

On June 17, 2020, CareCloud acquired information technology company Meridian Medical Management from The Gores Group

Acquisition Highlights
  • This is CareCloud’s 11th transaction in the Information Technology sector.
  • This is CareCloud’s 14th transaction in the United States.
  • This is CareCloud’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2020-06-17
Target Meridian Medical Management
Sector Information Technology
Buyer(s) CareCloud
Sellers(s) The Gores Group
Deal Type Add-on Acquisition
Advisor(s) B. Riley FBR, Inc. (Financial)

Target

Meridian Medical Management

Windsor, Connecticut, United States
website
Meridian Medical Management is a provider of healthcare analytics services, outsourced revenue cycle management, electronic medical records, and IT programming to multi-specialty physician groups using the GE Centricity platform. Meridian Medical Management was formed in 2002 and is based in Windsor, Connecticut.

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Buyer(S) 1

Buyer

CareCloud

Somerset, New Jersey, United States

website

Category Company
Founded 1999
Sector Software
Employees4,100
Revenue 139M USD (2022)
DESCRIPTION

CareCloud, Inc. is a provider of practice and revenue cycle management services and proprietary software solutions to private physician offices and hospital-employed provider groups throughout the United States. CareCloud was incorporated in 1999 and is based in Somerset, New Jersey.

DEAL STATS #
Overall 14 of 15
Sector (Information Technology) 11 of 12
Type (Add-on Acquisition) 13 of 14
State (Connecticut) 1 of 1
Country (United States) 14 of 15
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-08 CareCloud

Miami, Florida, United States

CareCloud Corp. is a provider of cloud-based practice management, electronic health records (EHR), and medical billing software and services. CareCloud subsequently evolved to serve the full spectrum of practice workflows, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), and patient experience management (PXM). CareCloud’s integrated clinical and financial platform technology and its suite of solutions enable clients to increase profitability, streamline workflow, and improve patient-care outcomes nationwide.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 medSR

Brentwood, Tennessee, United States

medSR is a Healthcare Strategy and IT Consulting company that brings integrity, quality, and dependability when delivering outstanding services and value to Academic Institutions, Community Hospitals, Medical Practices, and Health Systems. Its services and solutions are evolving and adapting to fit the ever-changing landscape of the healthcare industry. medSR is based in Brentwood, Tennessee.

Buy -

Seller(S) 1

SELLER

The Gores Group

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1987
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION
The Gores Group's headquarters in Beverly Hills, California.
The Gores Group's headquarters in Beverly Hills, California.

The Gores Group is a private equity firm focused on acquiring controlling interests in mature and growing businesses. Gores considers investments across Europe and North America and typically seeks non-core assets of public corporations. While Gores is a generalist investor, the firm has a particular interest in technology, telecommunications, business services, and industrial companies. The Gores Group was formed in 1987 and has offices in Beverly Hills, California, and Boulder, Colorado.

DEAL STATS #
Overall 60 of 65
Sector (Information Technology) 13 of 13
Type (Add-on Acquisition) 28 of 30
State (Connecticut) 2 of 2
Country (United States) 47 of 51
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-12 Data Blue

Atlanta, Georgia, United States

Data Blue LLC delivers customized storage, backup and server virtualization and consolidated solutions to enterprise customers in North America. Data Blue was formed to redefine the Value Added Reseller space, offering both the customer and manufacturer something that’s a step above what is currently available in the marketplace. Data Blue delivers customized storage, backup and server virtualization and consolidation solutions to the Enterprise, with specific emphasis on Fortune 1000 companies. By utilizing our vast cross-platform integration expertise and unparalleled product knowledge, we deliver solutions that are perfectly tailored to meet the unique needs of your environment.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-06 Hovis

Wycombe, United Kingdom

Hovis operates baking and flour mills. The company produces a wide range of flours and bakery products using a blend of seeds and cereals for the craft and industrial bakers across the UK and Ireland. Hovis was founded in 1886 and is based in Wycombe, United Kingdom.

Sell -
Mergr

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