M&A Deal Summary

Welsh Carson Anderson & Stowe and Lee Equity Partners Acquires MemberHealth

On November 14, 2005, private equity firms Welsh, Carson, Anderson & Stowe and Lee Equity Partners acquired healthcare services company MemberHealth, Inc. for 475M USD

Acquisition Highlights
  • This is Welsh Carson Anderson & Stowe’s 15th and Lee Equity Partners’ 1st transaction in the Healthcare Services sector.
  • This is Welsh Carson Anderson & Stowe’s 14th and Lee Equity Partners’ 1st largest (disclosed) transaction.
  • This is Welsh Carson Anderson & Stowe’s 38th and Lee Equity Partners’ 1st transaction in the United States.
  • This is Welsh Carson Anderson & Stowe’s 2nd and Lee Equity Partners’ 1st transaction in Ohio.
Investment Fate
  • MemberHealth was sold to a publicly-traded strategic buyer in 2007 for 650M USD.

M&A Deal Summary

Date 2005-11-14
Target MemberHealth, Inc.
Sector Healthcare Services
Buyer(s) Welsh, Carson, Anderson & Stowe
Lee Equity Partners
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 475M USD

Target

MemberHealth, Inc.

Solon, Ohio, United States
website
MemberHealth, Inc. Provider of prescription drug benefits and a national Medicare Part D sponsor.

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Buyer(S) 2

Buyer

Welsh, Carson, Anderson & Stowe

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1979
PE ASSETS 27.0B USD
SizeMega
Type Sector Focused
DESCRIPTION

Welsh Carson Anderson & Stowe (WCAS) is a mega-sized, specialist private equity firm focused on investments in growth-oriented companies operating within the healthcare and technology/tech-enabled services industries. WCAS will consider small and large transactions; including venture investments, growth equity investments, buy-and-build transactions, public-to-private acquisitions, and corporate carve-outs. The Firm prefers control situations and generally seeks opportunities in the US. Welsh Carson Anderson & Stowe was formed in 1979 and is based in New York City.


DEAL STATS #
Overall 39 of 91
Sector (Healthcare Services) 15 of 30
Type (Buyout (LBO, MBO, MBI)) 21 of 36
State (Ohio) 2 of 3
Country (United States) 38 of 86
Year (2005) 7 of 8
Size (of disclosed) 14 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-10 Accredo Health Group, Inc.

Memphis, Tennessee, United States

Accredo Health Group, Inc., provides specialty pharmacy and related services for patients with certain complex and chronic conditions through our unique Therapeutic Resource Centers.

Sell $2.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-31 AmCOMP, Inc.

North Palm Beach, Florida, United States

AmCOMP Incorporated is a provider of workers’ compensation insurance.

Buy -
Buyer

Lee Equity Partners

New York, New York, United States

website


Category Private Equity Firm
Founded 2006
SizeLarge
Type Sector Agnostic
DESCRIPTION

Lee Equity Partners is a private investment firm that looks for buyout and growth capital investments across a range of industries. Lee Equity Partners seeks investments requiring $50 to $100 million of equity capital. Lee Equity Partners was formed in 2006 by Thomas H. Lee, formerly of Thomas H. Lee Partners, LP.


DEAL STATS #
Overall 1 of 27
Sector (Healthcare Services) 1 of 7
Type (Buyout (LBO, MBO, MBI)) 1 of 8
State (Ohio) 1 of 1
Country (United States) 1 of 25
Year (2005) 1 of 1
Size (of disclosed) 1 of 4
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-24 MemberHealth, Inc.

Solon, Ohio, United States

MemberHealth, Inc. Provider of prescription drug benefits and a national Medicare Part D sponsor.

Sell $650M