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The Chartis Group, An Audax Portfolio Company, Acquires crankfrog

The Chartis Group, An Audax Portfolio Company, Acquires crankfrog

Buyside Advisor to The Chartis Group


The Chartis Group, An Audax Portfolio Company, Has Acquired National Payer Advisory Firm, crankfrog

7 Mile Advisors acts as buyside advisor

CHARLOTTE, NC – The Chartis Group, a leading healthcare advisory and analytics firm, has acquired crankfrog, one of the fastest growing payer consulting firms advising national, regional, and local payers on strategy, operations, and technology. The acquisition of crankfrog furthers Chartis’ commitment to helping its clients navigate the evolving healthcare ecosystem and how care is delivered and financed.  

7 Mile Advisors acted as the buyside advisor to The Chartis Group, an Audax Private Equity portfolio company, throughout the transaction. 

“The Chartis Group has an exceptional reputation as the nation’s leading healthcare advisory firm serving hospitals and health systems. Atul Pathiyal and the crankfrog team have distinguished themselves as innovators guiding the Payer market in the transition to value. It was a pleasure working with these exceptional teams on a transaction that reflects the industry’s trend of payer and provider convergence and expands The Chartis Group’s presence in the Payer market,” said Ben Garber, Healthcare Practice lead at 7 Mile Advisors.

“The addition of crankfrog allows us to expand and amplify our capabilities to serve both payers and providers,” said Ken Graboys, CEO of The Chartis Group. “It is a like-minded firm with exceptionally talented consultants providing complementary capabilities in payer strategy, operations, digital, and IT. By combining the power of Chartis and crankfrog, we’ll play a meaningful role in advancing healthcare financing, access, risk, and payer/provider collaboration.”

Atul Pathiyal, CEO of crankfrog, added, “Chartis is a natural home for us to continue to accelerate our growth and impact. Chartis and crankfrog share a lot of similarities—we both exclusively serve healthcare and have grown by being on the vanguard of thought leadership and client service, leading to demonstrable results. This partnership will allow us to expand our capabilities and broaden into new segments of the payer market.” Pathiyal, founder of crankfrog, and a 25-year veteran of payer consulting, will assume leadership of Chartis Consulting’s Payer Practice.

7 Mile Advisors Healthcare & Life Sciences vertical is led by Andy Johnston and Ben Garber. Other representative 7 Mile Healthcare transactions include BDO’s acquisition of Culbert Healthcare Solutions, Citius Tech’s acquisition of SDLC Partners, Ascension Recovery Services recapitalization with RCap Equity, and Centauri Health Solutions’s acquisition of Ivy Ventures. For more information on the firm’s Healthcare services and experience please visit www.7mileadvisors.com

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, and 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 The Chartis Group

The Chartis Group® (Chartis) is a leading healthcare advisory services firm serving healthcare providers, payers, service organizations, and investors. Different by design, Chartis brings an unparalleled breadth and depth of expertise in strategy, performance improvement, digital and technology, clinical quality and patient safety, and strategic communications. Learn how Chartis is helping to build a healthier world at www.chartis.com.

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