M&A Deal Summary

United HealthCare Services Acquires Medicode

On December 1, 1997, United HealthCare Services acquired software company Medicode from Galen Partners and Trident Capital

Acquisition Highlights
  • This is United HealthCare Services’ 1st transaction in the Software sector.
  • This is United HealthCare Services’ 1st transaction in the United States.
  • This is United HealthCare Services’ 1st transaction in Utah.

M&A Deal Summary

Date 1997-12-01
Target Medicode
Sector Software
Buyer(s) United HealthCare Services
Sellers(s) Galen Partners
Trident Capital
Deal Type Add-on Acquisition

Target

Medicode

Salt Lake City, Utah, United States
Medicode, Inc. is a claims adjudication software and databases for healthcare providers and insurance companies.

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Buyer(S) 1

Buyer

United HealthCare Services

Edina, Minnesota, United States

Category Company
Founded 1977
Sector Healthcare Services
DESCRIPTION

UnitedHealthcare is an operating division of UnitedHealth Group, the largest single health carrier in the United States.


DEAL STATS #
Overall 1 of 1
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Utah M&A 1 of 1
Country: United States M&A 1 of 1
Year: 1997 M&A 1 of 1

Seller(S) 2

SELLER

Galen Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1990
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Galen Partners is a private equity firm that targets investments in the healthcare industry. Areas within healthcare that Galen will consider include medical devices & technology, specialty pharmaceuticals, and information technology/services. Galen typically invests between $10 and $30 million per transaction in companies with a proprietary product or service that have attained revenues above $10 million. Prospective transactions include growth equity investments, complete buyouts, family business or other recapitalizations, going-private transactions, roll-overs of a portion of existing equity, and management buyouts. Galen Partners was formed in 1990 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 1 of 26
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 22
State: Utah M&A 1 of 2
Country: United States M&A 1 of 26
Year: 1997 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-07-28 DAOU Systems

Exton, Pennsylvania, United States

DAOU Systems, Inc. is a provider of professional IT consulting and management services to healthcare organizations in the design, deployment, integration and support of infrastructure and application systems.

Buy -
SELLER

Trident Capital

San Mateo, California, United States

Category Private Equity Firm
Founded 1993
PE ASSETS 1.9B USD
Size Large
Type Sector Focused
DESCRIPTION

Trident Capital was a venture capital firm focused on investments at all company stages, from early and expansion stage investments to buyouts and recapitalizations. Trident focused on investments in tech-enabled sectors, including enterprise software/services, outsourcing and payments, healthcare software/services, internet/consumer, and energy/clean tech. In 2015, Trident ceased investing and the Firm's employees split to form Sunstone Partners, a growth equity firm, and Trident Capital Cybersecurity, a venture firm focused on the cyber security sector.


DEAL STATS #
Overall 1 of 86
Sector: Software M&A 1 of 18
Type: Add-on Acquisition M&A Deals 1 of 63
State: Utah M&A 1 of 3
Country: United States M&A 1 of 81
Year: 1997 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-01-23 Avesta Technologies

New York, New York, United States

Avesta Technologies, Inc. is a develops comprehensive monitoring and management systems for enterprise-scale IT environments which help prevent intranet and Internet down-time.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-03-09 American Cellular corp.

Franklin, Tennessee, United States

American Cellular was one of the largest independent rural cellular telephone system operators in the U.S. The Company owned and operated non-wireline FCC-licensed cellular telephone systems primarily in rural areas of the Midwestern and Eastern portions of the U.S. American Cellular was acquired by a joint venture between AT&T and Dobson.

Buy -