Industry Related TransactionsIvy Ventures Acquired by Centauri Health Solutions, an Abry Partners Portfolio Company
Sellside Advisor To Ivy Ventures
7 Mile Advisors Acted as the Exclusive Sellside Advisor to Ivy Ventures in their Sale to Centauri Health Solutions, an Abry Partners Portfolio Company
CHARLOTTE, NC — 7 Mile Advisors is pleased to announce that Ivy Ventures (“Ivy”), a Virginia-based healthcare growth solutions company focused on developing referral-driven service lines and improving care coordination, has been acquired by Centauri Health Solutions (“Centauri”), an innovative healthcare technology and services company. The acquisition will expand Centauri’s comprehensive hospital solutions offerings, which already include Medicaid and Disability Eligibility and Enrollment, Out-of-State Medicaid Billing, and Revenue Cycle Analytics.
“Ivy’s analytics-based referral management platform will enhance Centauri’s revenue cycle optimization solutions. Ivy is comprised of great people, and 7 Mile knows they will continue to flourish at Centauri,” said Ben Garber, 7 Mile Vice President.
Founded in 2003, Ivy deploys an IP-enabled services model allowing major hospital networks to scale physician referral functions to grow referral-driven service lines. Ivy utilizes a proprietary scheduling, analytics, and outreach platform to improve the experience and success rate of the referral process. Ivy’s data-driven process and insights deliver meaningful growth and improve user experience for their hospital and physician networks.
“Ivy is pleased to be joining a company with a similar foundation in leveraging technology and exceptional service to provide the best marketplace solutions,” said Roger Johnson, a Founding Partner of Ivy Ventures. “We look forward to offering Centauri’s unparalleled suite of revenue cycle optimization solutions to our long-term marquee clients to support their revenue growth in new ways.”
“Adding Ivy’s industry-leading referral management and analytics offerings to our growing portfolio expands the breadth and depth of our revenue cycle optimization solutions,” said Adam Miller, Centauri CEO and Co-Founder. “As we join forces with companies with complementary strengths, our goal is to provide our present and future health system clients with a full suite of services enabling them to streamline their vendor management processes and create efficiencies.”
The combined organization will be led by Miller, with Ivy’s founding partners, Johnson and Douglas Wetmore, and partners, Milan diPierro and Barrett Clark, joining Centauri’s management team.
The Ivy transaction was supported by Centauri’s lead investor, Abry Partners, and its other key investors, Silversmith Capital Partners and SV Health Investors. 7 Mile Advisors acted as the exclusive sellside advisor to Ivy. Weiss Brown LLP served as legal counsel to Centauri. Whiteford Taylor Preston was legal counsel to Ivy. Financial terms of the acquisition were not disclosed.
For more information on 7 Mile Advisors’ services and experience across the Healthcare ecosystem please visit their website at 7mileadvisors.com. There you can find recent sectorwatch reports, podcast episodes, and transaction details by the industry coverage team.
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 Ivy Ventures
Ivy Ventures LLC was founded in 2003 by Roger Johnson and Doug Wetmore, who have an extensive background in developing and operating outpatient imaging centers. Their imaging centers prospered by developing patient access improvements and strong community relationships to provide distinctive customer service to patients and physicians. Ivy’s plan from the beginning was to partner with integrated health systems to apply a retail and entrepreneurial approach to growing referral driven service lines. Operating with an entrepreneurial approach in an increasingly retail market allows hospitals to provide a premium level of patient care and take full advantage of existing investments.
About Centauri Health Solutions
Centauri Health Solutions provides services to payors and providers across all healthcare programs, including Medicare, Medicaid, Commercial and Exchange. In partnership with our clients, we improve the lives and health outcomes of the members and patients we touch through compassionate outreach, sophisticated analytics, and data-driven solutions. Our services directly address complex problems such as uncompensated care within health systems; appropriate, risk-adjusted revenue for specialized sub-populations; and improve access to and quality of care measurement. Headquartered in Scottsdale, Ariz., Centauri Health Solutions employs 1,700 dedicated associates across the country. Centauri has ranked in the Top 500 on Inc. Magazine’s 2019 and 2020 Inc. 5000 lists of the fastest-growing private companies in the U.S. For more information, visit www.centaurihs.com.
About Abry Partners
Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since their founding in 1989, the firm has completed over $82.0 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across their active funds. For more information on Abry, please visit www.abry.com.
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