Transactions
May 10 2006
Cardium Acquired By Centene Corporation
Company Description
Since the late 1990s, Cardium Health has been a leading provider of health improvement and disease management programs to self-insured employers and benefit plan sponsors. The Company’s core focus is reducing healthcare costs by providing medical support and educational interventions to individuals living with chronic conditions. Its people-centered disease management programs are based on proven clinical and economic best-practice protocols. These programs easily integrate into an employers’ back-to-work and wellness initiatives, and cover such conditions as heart disease, diabetes, asthma, COPD, back pain, cancer management, and tobacco cessation. Cardium Health utilizes a primary health coaching model, whereby a condition-specific health coach provides clinical and motivational support as well as knowledge of the healthcare delivery system to fill health literacy gaps that most likely pose a barrier to the adoption of true consumerism in the healthcare marketplace.
Objectives
Given Cardium Health’s leadership and experience in disease management, the Company received numerous over-the-wall solicitations from interested buyers. To effectively and efficiently quantify these interests while continuing to grow their business, Cardium Health engaged TripleTree based on a deep knowledge across the healthcare landscape and ability to quickly identify and engage potential suitors. TripleTree sought to take advantage of ideal market conditions to find a strategic partner with the market presence and resources through which Cardium Health could further advance their capabilities and foster continued growth.
Results
Through a collaborative effort with Cardium Health, TripleTree facilitated discussions with a select group of potential acquirers. With the growing need for disease management programs as part of an integrated population health management solution set, such discussions spanned numerous market segments within healthcare. Centene Corporation (NYSE:CNC) emerged as the right strategic partner for Cardium’s management team, employees and investors, and was a win-win for all parties involved. The addition of Cardium Health expands Centene’s specialty company platform into a comprehensive offering of disease states and complements their existing capabilities. Additionally, Dan Cave, President and CEO of Cardium Health, brings to Centene more than 20 years of industry experience and knowledge with a proven track record of integrating health services offerings. Under Centene, Cardium Health will have additional access to the necessary capital, client base, and parental leverage to bring about its next stage of growth.
LEAD INVESTMENT BANKERS
David Brownlie
Company Description
Since the late 1990s, Cardium Health has been a leading provider of health improvement and disease management programs to self-insured employers and benefit plan sponsors. The Company’s core focus is reducing healthcare costs by providing medical support and educational interventions to individuals living with chronic conditions. Its people-centered disease management programs are based on proven clinical and economic best-practice protocols. These programs easily integrate into an employers’ back-to-work and wellness initiatives, and cover such conditions as heart disease, diabetes, asthma, COPD, back pain, cancer management, and tobacco cessation. Cardium Health utilizes a primary health coaching model, whereby a condition-specific health coach provides clinical and motivational support as well as knowledge of the healthcare delivery system to fill health literacy gaps that most likely pose a barrier to the adoption of true consumerism in the healthcare marketplace.
Objectives
Given Cardium Health’s leadership and experience in disease management, the Company received numerous over-the-wall solicitations from interested buyers. To effectively and efficiently quantify these interests while continuing to grow their business, Cardium Health engaged TripleTree based on a deep knowledge across the healthcare landscape and ability to quickly identify and engage potential suitors. TripleTree sought to take advantage of ideal market conditions to find a strategic partner with the market presence and resources through which Cardium Health could further advance their capabilities and foster continued growth.
Results
Through a collaborative effort with Cardium Health, TripleTree facilitated discussions with a select group of potential acquirers. With the growing need for disease management programs as part of an integrated population health management solution set, such discussions spanned numerous market segments within healthcare. Centene Corporation (NYSE:CNC) emerged as the right strategic partner for Cardium’s management team, employees and investors, and was a win-win for all parties involved. The addition of Cardium Health expands Centene’s specialty company platform into a comprehensive offering of disease states and complements their existing capabilities. Additionally, Dan Cave, President and CEO of Cardium Health, brings to Centene more than 20 years of industry experience and knowledge with a proven track record of integrating health services offerings. Under Centene, Cardium Health will have additional access to the necessary capital, client base, and parental leverage to bring about its next stage of growth.
LEAD INVESTMENT BANKERS
David Brownlie
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