M&A Deal Summary

Surgical Information Systems Acquires Source Medical Solutions

On April 25, 2017, Surgical Information Systems acquired information services company Source Medical Solutions from ABS Capital Partners, ABRY Partners and VSS Capital Partners

Acquisition Highlights
  • This is Surgical Information Systems’ 1st transaction in the Information Services sector.
  • This is Surgical Information Systems’ 2nd transaction in the United States.
  • This is Surgical Information Systems’ 1st transaction in Alabama.

M&A Deal Summary

Date 2017-04-25
Target Source Medical Solutions
Sector Information Services
Buyer(s) Surgical Information Systems
Sellers(s) ABS Capital Partners
ABRY Partners
VSS Capital Partners
Deal Type Add-on Acquisition

Target

Source Medical Solutions

Birmingham, Alabama, United States
website
Source Medical Solutions, Inc. (SourceMedical) is a provider of outpatient information solutions and revenue cycle management services for rehabilitation clinics, ambulatory surgery centers and specialty hospitals nationwide. SourceMed is based in Birmingham, Alabama.

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Buyer(S) 1

Buyer

Surgical Information Systems

Alpharetta, Georgia, United States

website


Category Company
Founded 1996
Sector Internet Software and Services
DESCRIPTION

Surgical Information Systems is a provider of cloud-based ASC management which includes surgeon office case request, scheduling, insurance verification, registration, billing, payment posting, accounts receivable, collections, and inventory. Surgical Information Systems was founded in 1996 and is based in Alpharetta, Georgia.


DEAL STATS #
Overall 2 of 2
Sector (Information Services) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Alabama) 1 of 1
Country (United States) 2 of 2
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-14 AmkaiSolutions

Armonk, New York, United States

AmkaiSolutions is a trusted industry leader, providing innovative electronic solutions to Ambulatory Surgery Centers, Surgical Hospitals, and Practice and Clinics. AmkaiCharts, the #1-rated2 EMR solution, provides users with critical patient information at their fingertips, along with powerful data mining and reporting capabilities, and accreditation at all levels.

Buy -

Seller(S) 3

SELLER

ABS Capital Partners

Hunt Valley, Maryland, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1990
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ABS Capital Partners is a private equity firm that invests in later-stage growth companies in the healthcare, technology, business services, media and communications sectors. ABS provides capital to help fund growth, provide shareholder liquidity, pursue acquisitions, or to effect a management buyout. The Firm prefers US based business and will consider both majority and minority positions. ABS looks to commit $10 to $30 million per transaction. ABS Capital was formed in 1990 and has offices in Baltimore, Maryland; Waltham, Massachusetts; and San Francisco, California.


DEAL STATS #
Overall 55 of 70
Sector (Information Services) 2 of 2
Type (Add-on Acquisition) 24 of 34
State (Alabama) 1 of 1
Country (United States) 54 of 69
Year (2017) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-05 Payspan

Jacksonville, Florida, United States

Payspan provides payment solutions for health plans and providers seeking to increase provider adoption of electronic payments, engage patient members, and accelerate quality care. Payspan was founded in 1984 and is based in Jacksonville, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-10 Bambeco

Baltimore, Maryland, United States

Bambeco, Inc. is the premier brand for designing, manufacturing, and retailing sustainable and eco-friendly home furnishings and décor.

Sell -
SELLER

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 65 of 98
Sector (Information Services) 3 of 5
Type (Add-on Acquisition) 34 of 51
State (Alabama) 1 of 1
Country (United States) 57 of 85
Year (2017) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-04 Inmar

Winston-Salem, North Carolina, United States

Inmar operates intelligent commerce networks, connecting offline and online transactions in real time for retailers, manufacturers and trading partners across multiple industries. In addition, Inmar’s platforms generate meaningful data and enable the Company to provide clients with actionable analytics and insights to meet the evolving needs of shoppers, patients and businesses. Inmar was founded in 1980 and is based in Winston-Salem, North Carolina

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-11 Claranet

London, United Kingdom

Claranet provides a wide range of integrated hosting, networks, and communications managed services, as well as our support and expertise 24×7. Claranet was formed in 1996 and is based in London, England.

Sell £80M
SELLER

VSS Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

VSS Capital Partners is a private equity firm that targets investments in the media, communications, education, and information services sectors. VSS looks for opportunities with valuable brand franchises, stable cash flows, and infrastructure to support add-ons. The Firm will consider businesses throughout North America and Europe valued between $50 and $750 million. Prospective investment situations include management buyouts/buy-ins, expansion or acquisition financings, recapitalizations, build-ups, going private transactions, and partnerships. VSS was formed in 1981 and is based in New York City.


DEAL STATS #
Overall 43 of 56
Sector (Information Services) 3 of 3
Type (Add-on Acquisition) 16 of 22
State (Alabama) 1 of 1
Country (United States) 31 of 43
Year (2017) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-15 VKIDZ Holdings

Ft. Lauderdale, Florida, United States

VKIDZ Holdings, Inc. is an edtech company dedicated to helping deliver the best education to students using technology. Organized in two business units, Vkidz serves both school systems and homeschooling families with innovative, research-based educational products. Company mission is to provide superior educational experiences to students providing full support to their parents and the school systems. The products have many game-like elements reflecting the founder’s experience developing Playstation games in his previous career. Prospective employees are urged to review the open positions on the career pages on the VocabularySpellingCity and Time4Learning websites. Additionally, the company is building a board of directors and a deeper management team.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-08 Brand Connections

New York, New York, United States

Brand Connections creates and executes digitally integrated marketing campaigns that enhance brand awareness, influence consumers on their path-to-purchase, and increase sales for consumer packaged goods (CPG) brands and national retailers. The company is retail-centric and digitally savvy across all divisions, fulfilling the needs of its clients through its full suite of in-house capabilities, including a strong focus on retail and shopper in-store marketing programs, sampling and fulfillment services, digital media, digital consumer promotions, and experiential solutions, among other services.

Sell -