Add-on Acquisition • Healthcare Services

Optum Acquires ConnectYourCare

On November 1, 2020, Optum acquired healthcare services company ConnectYourCare from ABS Capital Partners

Acquisition Context
  • This is Optum’s 7th transaction in the Healthcare Services sector.
  • This is Optum’s 10th transaction in the United States.
  • This is Optum’s 1st transaction in Maryland.

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M&A Deal Summary

Date November 1, 2020
Target ConnectYourCare
Sector Healthcare Services
Buyer(s) Optum
Sellers(s) ABS Capital Partners
Deal Type Add-on Acquisition

Target Company

ConnectYourCare

Hunt Valley, Maryland, United States
ConnectYourCare is a consumer-directed healthcare (CDH) account administrator focused on providing innovative, consumer-friendly tools to help patients successfully navigate the complexity of healthcare accounts.
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Buyer Overview 1

Buyer

Optum

Eden Prairie, Minnesota, United States

Category Company
Sector Information Technology
DESCRIPTION
Entrance to Optum's corporate headquarters in Eden Praire, Minnesota.
Entrance to Optum's corporate headquarters in Eden Praire, Minnesota.

Optum is an information and technology-enabled health services business dedicated to helping make the health system work better for everyone. Optum delivers intelligent, integrated solutions that help to modernize the health system and improve overall population health.


Deal Context for Buyer #
Overall 10 of 16
Sector: Healthcare Services 7 of 11
Type: Add-on Acquisition 9 of 12
State: Maryland 1 of 1
Country: United States 10 of 16
Year: 2020 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-18 NaviHealth

Brentwood, Tennessee, United States

NaviHealth, Inc. is the largest manager of post-acute benefits for health plans and a leading value-based care partner to health systems and providers. naviHealth currently serves more than two million insured members and manages care transitions for approximately 800 acute hospitals and 11,000 post-acute care facilities nationwide.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 VPay

Plano, Texas, United States

VPay offers a turn-key platform that distributes, administers, and processes virtual and plastic cards, checks, and ACH payments via their end-to-end issuing and processing capabilities. Offering the insurance industry’s only total payment solution, VPay equips insurers with configurable, next-generation digital solutions that streamline every aspect of payment processes. VPay was founded in 2002 and is based in Plano, Texas.

Buy -

Seller Profile 1

SELLER

ABS Capital Partners

Hunt Valley, Maryland, United States

Investor Investor Investor Investor Investor


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 $25 million per transaction. ABS Capital was formed in 1990 and has offices in Baltimore, Maryland; Waltham, Massachusetts; and San Francisco, California.


Deal Context for Seller #
Overall 66 of 72
Sector: Healthcare Services 10 of 10
Type: Add-on Acquisition 31 of 35
State: Maryland 5 of 6
Country: United States 65 of 71
Year: 2020 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-14 GuidePoint Security

Herndon, Virginia, United States

GuidePoint Security enables organizations to identify threats, optimize resources and integrate best-fit solutions that mitigate cyber risk. GuidePoint partners with its customers to review, compare, and recommend best-fit security solutions based on their unique environment and requirements. GuidePoint Security was formed in 2011 and is based in Herndon, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-11 iZotope

Cambridge, Massachusetts, United States

iZotope makes innovative products that inspire and enable people to be creative. Based in Cambridge, Massachusetts, iZotope has spent over a decade developing award-winning products and audio technologies for professionals and hobbyists alike.

Sell -