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M&A Deal Summary

Netsmart Acquires McBee Associates

On May 2, 2019, Netsmart acquired information technology company McBee Associates from Century Equity Partners

Acquisition Highlights
  • This is Netsmart’s 6th transaction in the Information Technology sector.
  • This is Netsmart’s 10th transaction in the United States.
  • This is Netsmart’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2019-05-02
Target McBee Associates
Sector Information Technology
Buyer(s) Netsmart
Sellers(s) Century Equity Partners
Deal Type Add-on Acquisition
Advisor(s) Triple Tree (Financial)

Target

McBee Associates

Wayne, Pennsylvania, United States
McBee Associates, Inc. is the nation’s premier health care services and consulting firm that delivers financial, operational and clinical consulting services exclusively to healthcare providers across the continuum of care. For more than 45 years, McBee has designed services to ensure the success of clients by improving clinical, operational, and revenue cycle performance. McBee offers solutions that address the unique financial and operational needs of hospitals, home health, long-term care, and other organizations

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Buyer(S) 1

Buyer

Netsmart

Overland Park, Kansas, United States
Category Company
Founded 1968
Sector Internet Software and Services
Employees337
DESCRIPTION

Netsmart is a provider of enterprise software and software as a service (SaaS) solutions for health and human services providers. Netsmart provides technology and expertise to help health and human services providers deliver effective, outcomes-based services and care to more than 25 million persons nationwide. Netsmart clients include mental health and addiction services agencies, health homes, psychiatric hospitals, private and group mental health practices, public health departments, social services, child and family services agencies, managed care organizations and vital records offices. Netsmart was founded in 1968 and is based in Overland Park, Kansas.

DEAL STATS #
Overall 10 of 16
Sector: Information Technology M&A 6 of 6
Type: Add-on Acquisition M&A Deals 9 of 14
State: Pennsylvania M&A 1 of 1
Country: United States M&A 10 of 16
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-02 Change Healthcare - Home Care and Hospice Solutions

Nashville, Tennessee, United States

Change Healthcare, Inc. - Home Care and Hospice Solutions is a provider of health information exchange (HIE), analytics, referral management and mobility solutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-20 Tellus

Deerfield Beach, Florida, United States

Tellus LLC is an operator of home health care technology provider focused on EVV solutions. Tellus comprehensive, cloud-based solutions work to simplify, streamline, and quickly and easily verify care delivery tasks and process claims data right at the point of care. Tellus was founded in 2013 and is based in Deerfield Beach, Florida.

Buy -

Seller(S) 1

SELLER

Century Equity Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 885M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Century Equity Partners is an asset management firm invests in lower middle-market companies located in the US. Century Equity Partners focuses on companies with rapidly growing, profitable businesses led by strong management teams with an enterprise value between $15 and $300 million and equity capital ranging from $5 to $30 million and in conjunction with its limited partners and select co-investors can commit up to $100 million to a single transaction. The Firm targets companies operating in the fields of financial services, insurance, and healthcare services. Types of transactions include buyouts and growth capital. It seeks minority interest and also considers co-invests. Century Equity Partners was formed in 1987 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 21 of 24
Sector: Information Technology M&A 1 of 2
Type: Add-on Acquisition M&A Deals 11 of 13
State: Pennsylvania M&A 1 of 1
Country: United States M&A 15 of 18
Year: 2019 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-21 Relation

Walnut Creek, California, United States

Relation is a premier insurance broker that offers superior risk-management and benefits-consulting services through its family of brands across the U.S. It is ranked by Insurance Journal within the top 45 largest agencies in the country by revenue and has nearly 500 employees in more than 30 locations nationwide. Relation was founded in 2007 and is based in Walnut Creek, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-22 PatientMatters

Orlando, Florida, United States

PatientMatters provides a technology-enabled, managed services offering that assists healthcare providers with the identification and management of the self-pay portion of accounts receivable. The company provides a solution for healthcare institutions that are struggling to address the dramatic change in the composition of their accounts receivable caused by the shift to high deductible health plans and higher co-payments. PatientMatters was formed in 2012 and is based in Orlando, Florida.

Sell -
Mergr

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