Investment Summary

Parthenon Capital and Summit Partners Invest In Medical Review Institute of America

On January 1, 2017, private equity firm Parthenon Capital and growth capital firm Summit Partners invested in business services company Medical Review Institute of America

Investment Highlights
  • This is Parthenon Capital’s 12th and Summit Partners’ 21st transaction in the Business Services sector.
  • This is Parthenon Capital’s 43rd and Summit Partners’ 261st transaction in the United States.
  • This is Parthenon Capital’s 1st and Summit Partners’ 5th transaction in Utah.

Investment Summary

Date 2017-01-01
Target Medical Review Institute of America
Sector Business Services
Investor(s) Parthenon Capital
Summit Partners
Deal Type Growth Capital

Target

Medical Review Institute of America

Salt Lake City, Utah, United States
Medical Review Institute of America is a provider of outsourced utilization management and clinical review solutions to payers. Medical Review Institute of America was founded in 1983 and is based in Salt Lake City, Utah.

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Investor(S) 2

Investor

Parthenon Capital

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 5.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Parthenon Capital is a private equity firm focused on investing in service-based businesses with recurring revenues, defensible niches and competitive advantages. Parthenon looks for businesses valued between $75 and $750 million operating in sectors that include business services, financial services, manufacturing, technology-enabled services, and distribution/logistics. Prospective transaction types include recapitalizations, management buyouts, acquisitions, privatizations, and growth capital financings. Parthenon Capital was formed in 1998 and has offices in Boston, Massachusetts and San Francisco, California.


DEAL STATS #
Overall 43 of 63
Sector: Business Services M&A 12 of 15
Type: Growth Capital M&A Deals 9 of 18
State: Utah M&A 1 of 1
Country: United States M&A 43 of 62
Year: 2017 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-04 BillingTree

Scottsdale, Arizona, United States

BillingTree is a provider of integrated payments solutions to the healthcare, ARM and financial services industry verticals. Through its technology-enabled suite of products and services, BillingTree enables organizations to increase efficiency and decrease the costs of payment processing while adhering to compliance regulations. BillingTree was founded in 2003 and is based in Scottsdale, Arizona.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-13 Eliza

Beverly, Massachusetts, United States

Eliza is a healthcare engagement management solution capable of delivering a truly personalized conversation with the modern healthcare consumer at an enterprise scale. It is why eight of the top ten health plans in the United States are Eliza's clients—their unified approach gets members to act, and their Health Engagement Management solutions deliver effective results. Eliza integrates a scalable, multi-channel technology platform, along with proprietary data sources, industry-leading analytics, and experience-driven program design services to deliver outcomes that matter. Eliza builds upon each interaction to help clients drive outcomes such as improved HEDIS and Star ratings, increased medication adherence, reduced membership 'churn' and greater member satisfaction. Eliza was formed in 1984 and is based in Beverly, Massachusetts.

Sell $170M
Investor

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 299 of 392
Sector: Business Services M&A 21 of 27
Type: Growth Capital M&A Deals 172 of 222
State: Utah M&A 5 of 7
Country: United States M&A 261 of 322
Year: 2017 M&A 1 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-09 IVC Evidensia

Bristol , United Kingdom

IVC Evidensia is a diversified vet services platform, an extensive network of clinics/hospitals, and comprehensive pet e-commerce and telemedicine offerings. IVC Evidensia was founded in 2011 and is based in Bristol, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-02 Club Champion

Willowbrook, Illinois, United States

Club Champion is one of the largest premium custom golf club fitting retailers in the world, with more than 45 locations across the United States. Club Champion uses highly trained fitters and the latest in ball flight measuring technology to deliver a Tour-quality fitting experience using an unbiased approach with the goal of producing longer, more accurate shots to lower golfers’ scores. Club Champion was founded in 2010 and is based in Willowbrook, Illinois.

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