M&A Deal Summary

Universal American Acquires MemberHealth

On September 24, 2007, Universal American acquired healthcare services company MemberHealth from Welsh Carson Anderson & Stowe and Lee Equity Partners for 650M USD

Acquisition Highlights
  • This is Universal American’s 2nd transaction in the Healthcare Services sector.
  • This is Universal American’s largest (disclosed) transaction.
  • This is Universal American’s 2nd transaction in the United States.
  • This is Universal American’s 1st transaction in Ohio.

M&A Deal Summary
Date 2007-09-24
Target MemberHealth
Sector Healthcare Services
Buyer(s) Universal American
Sellers(s) Welsh Carson Anderson & Stowe
Lee Equity Partners
Deal Type Add-on Acquisition
Deal Value 650M USD

Target

MemberHealth

Solon, Ohio, United States
website
MemberHealth, Inc. Provider of prescription drug benefits and a national Medicare Part D sponsor.

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Buyer(S) 1

Buyer

Universal American

White Plains, New York, United States

website

Category Company
Founded 1981
Sector Healthcare Services
Employees1,500
Revenue 1.5B USD (2015)
DESCRIPTION

Universal American is a provider of health care products and services.

DEAL STATS #
Overall 2 of 3
Sector (Healthcare Services) 2 of 3
Type (Add-on Acquisition) 2 of 3
State (Ohio) 1 of 1
Country (United States) 2 of 3
Year (2007) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-27 Heritage Health Systems

Houston, Texas, United States

Heritage Health Systems, Inc. operated joint ventures with independent practice associations of physicians that market health plan products and contract with health insurers.

Buy $98M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-27 CHCS Services

Pensacola, Florida, United States

CHCS Services is a provider of underwriting, claims management or complete Senior administrative solutions. CHCS Services is based in Pensacola, Florida.

Sell -

Seller(S) 2

SELLER

Welsh Carson Anderson & Stowe

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1979
PE ASSETS 27.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Welsh Carson Anderson & Stowe (WCAS) is a mega-sized, specialist private equity firm focused on investments in growth-oriented companies operating within the healthcare and technology/tech-enabled services industries. WCAS will consider small and large transactions; including venture investments, growth equity investments, buy-and-build transactions, public-to-private acquisitions, and corporate carve-outs. The Firm prefers control situations and generally seeks opportunities in the US. Welsh Carson Anderson & Stowe was formed in 1979 and is based in New York City.

DEAL STATS #
Overall 19 of 73
Sector (Healthcare Services) 9 of 25
Type (Add-on Acquisition) 11 of 43
State (Ohio) 2 of 3
Country (United States) 18 of 70
Year (2007) 5 of 5
Size (of disclosed) 19 of 33
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-24 Universal American

White Plains, New York, United States

Universal American is a provider of health care products and services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-25 Retrievex

Conshohocken, Pennsylvania, United States

Retrievex is an industry leader and innovator in organizing, classifying, archiving, preserving and purging records. Retrievex provides records and information management solutions in several key markets throughout the United States.

Buy -
SELLER

Lee Equity Partners

New York, New York, United States

website

Category Private Equity Firm
Founded 2006
PE ASSETS 4.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lee Equity Partners is a private investment firm that looks for buyout and growth capital investments across a range of industries. Lee Equity Partners seeks investments requiring $50 to $150 million of equity capital. Lee Equity Partners was formed in 2006 by Thomas H. Lee, formerly of Thomas H. Lee Partners, LP.

DEAL STATS #
Overall 1 of 15
Sector (Healthcare Services) 1 of 5
Type (Add-on Acquisition) 1 of 5
State (Ohio) 1 of 1
Country (United States) 1 of 14
Year (2007) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-24 Universal American

White Plains, New York, United States

Universal American is a provider of health care products and services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-01 Deb Shops

Philadelphia, Pennsylvania, United States

Deb Shops is a mall-based, specialty retailer of fashionable, value-priced apparel and accessories for junior females in both regular and plus sizes. Headquartered in Philadelphia, PA, the Company operates over 340 stores in the U.S. principally under two store formats: junior only and junior / plus combination.

Buy $395M
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