Industry Related TransactionsCitiusTech Acquires SDLC Partners
Buyside Advisor to CitiusTech
Healthcare Technology Services Provider, CitiusTech, Acquires SDLC Partners
The acquisition will leverage SDLC’s deep industry expertise to drive digital transformation in the health plan industry.
PITTSBURGH, PA – CitiusTech, a leading provider of healthcare technology solutions and services, acquired SDLC Partners (“SDLC”), a Pittsburgh, PA-based provider of technology transformation, consulting, and automation solutions to leading payer organizations. SDLC’s next-gen technology capabilities complement CitiusTech’s healthcare platforms and deep industry expertise through their FluidEdge Consulting division, further positioning the enterprise as the global technology leader in the health plan industry.
“Our investment in SDLC is another step towards helping payers accelerate their transformation to value-based, member-centric operating models,” said Bhaskar Sambasivan, President of CitiusTech
7 Mile Advisors (“7 Mile”) acted as the exclusive buyside advisor to CitiusTech through the process. This transaction marks 7 Mile’s fourth Healthcare transaction over the past year, following Quisitive Technology’s acquisition of Mazik Global, Ascension Recovery Services’ investment by RCap Equity, and Ivy Ventures’ sale to Centauri Health Solutions.
“We’ve known the leadership teams at SDLC and CitiusTech for many years. Today’s Healthcare environment of infinitely increasing demand for integrated technology capabilities from vendors with deep expertise across Payor, Provider, and Life Sciences presented the unique opportunity to bring these world-class firms together. This transaction is a phenomenal outcome for both companies and their clients, and 7 Mile Advisors is grateful for the privilege of working with these two exceptional teams to make it happen,” said Ben Garber, Vice President, 7 Mile Advisors.
“7 Mile Advisors’ expertise in Healthcare IT enabled us move decisively. Their understanding of our business and where the market is going allowed us to identify the right partner to achieve our strategic goals,” said Jagdish Moorjani, Chief Operating Officer and Co-founder of CitiusTech.
“The experience and personal relationships Ben Garber brought to the table were instrumental in achieving this success. The whole 7 Mile team acted as an extension of our own and have been excellent colleagues to work with,” said Samir Desai, Head of Corporate Development of CitiusTech.
SDLC Partners is an essential leader in the Pittsburgh technology and business ecosystem. With a team of more than 350 healthcare technology professionals, SDLC has specialized payer business expertise including member experience management, intelligent automation, data & analytics, and core applications. SDLC also consists of CyLumena, a top-ranked cyber security firm. SDLC have received awards and garnered attention from the Pittsburgh Technology Council, the Inc. 5000, the Pittsburgh 100, and E&Y’s Entrepreneur of the Year. This deal marks 7 Mile’s sixth transaction in the Greater Pittsburgh Area and is exemplary of the firm’s commitment to promoting the city as a global technology hub.
“SDLC brings proven capabilities and very talented team members with deep expertise, manifesting in the solutions we are known to deliver for clients,” says Chris Simchick, Chief Executive Officer of SDLC Partners. “Combining this with CitiusTech’s industry presence and its rich portfolio of complementary digital offerings gives us the ability to broaden our access to payer markets, compete and win larger opportunities and move front and center in our customer’s digital transformation strategy.”
7 Mile Advisors was perfectly positioned to advise on this transaction due to their intersecting practice areas of Healthcare Services and Business Services & Technology. The team’s deep insight and knowledge of M&A activity in the ecosystems can be found in their sector-specific research reports and recent transaction activity.
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, as well as provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com.
About CitiusTech
CitiusTech is a leading provider of healthcare technology services, solutions and platforms, with strong presence across the payer, provider, medical technology, and life sciences markets. With over 5,000 technology professionals worldwide, CitiusTech helps healthcare organizations accelerate innovation through next-generation technologies, solutions, platforms and accelerators in the areas of healthcare interoperability, data convergence, quality & performance analytics, connected health, patient engagement, value-based care, omni-channel member experience, virtual care coordination & delivery, personalized medicine, and population health management. With cutting-edge technology expertise, deep domain expertise and a global talent base, CitiusTech helps healthcare organizations reinvent themselves to deliver better outcomes, accelerate growth, drive efficiencies, and ultimately make a meaningful impact to patients. www.citiustech.com.
