Transactions
November 2007
HSI Recapitalized By Great Point Partners
Company Description
Headquartered in Indianapolis, Health Systems International (HSI) is a healthcare information technology company offering BPO cost management solutions to health plans, employers, and other healthcare payors and provider networks around the world. Since 1987, HSI has utilized proprietary technology, experienced staff and the broadest selection of medical discount solutions to relieve client's administrative burdens and to achieve the lowest possible cost of care.
Objectives
The Company’s management team identified an opportunity in the highly fragmented medical cost management industry to use its robust platform as the ideal consolidation tool and deliver the most comprehensive package of PPO networks and other medical discount solutions available. To help raise the necessary capital to execute on its aggressive strategy, the Company selected TripleTree as its exclusive financial advisor based on TripleTree’s in-depth knowledge across revenue cycle management. Leveraging its expertise in this sector, TripleTree provided the following services:
TripleTree held initial discussions with select regional private equity firms already in discussion with HSI while simultaneously engaging additional firms that brought healthcare expertise
TripleTree worked collaboratively with the Company’s management team to position HSI as a platform investment within the highly fragmented medical cost management industry.
TripleTree managed a highly competitive process, with interest from a number of prospective financial and strategic suitors.
TripleTree worked closely with HSI’s shareholders to identify investors with a combination of attractive valuation for exiting shareholders, deal structure, management incentives, and industry expertise to ensure long-term value creation for HSI’s roll-over investors.
Results
HSI chose Great Point Partners, an investment management company with over $850 million under management and a dedicated private equity fund, as its financial partner. Great Point Partners was selected among a strong group of interested parties as a value-added partner having the best combination of a flexible deal structure, transactional and healthcare industry expertise specific to HSI's focus, and the capabilities to drive follow-on acquisitions. The investment provided liquidity to non-management angel investors while providing current management the ability to actively participate in future value. In addition, HSI now has the necessary financial resources to execute on its strategic plan to aggressively add to its already extensive portfolio of network access and repricing and bill review solutions. In their first two months as partners, HSI and Great Point held numerous discussions with potential acquisition targets, with HSI completing its first acquisition shortly after the investment.
LEAD INVESTMENT BANKERS
Jason Grais
Company Description
Headquartered in Indianapolis, Health Systems International (HSI) is a healthcare information technology company offering BPO cost management solutions to health plans, employers, and other healthcare payors and provider networks around the world. Since 1987, HSI has utilized proprietary technology, experienced staff and the broadest selection of medical discount solutions to relieve client's administrative burdens and to achieve the lowest possible cost of care.
Objectives
The Company’s management team identified an opportunity in the highly fragmented medical cost management industry to use its robust platform as the ideal consolidation tool and deliver the most comprehensive package of PPO networks and other medical discount solutions available. To help raise the necessary capital to execute on its aggressive strategy, the Company selected TripleTree as its exclusive financial advisor based on TripleTree’s in-depth knowledge across revenue cycle management. Leveraging its expertise in this sector, TripleTree provided the following services:
TripleTree held initial discussions with select regional private equity firms already in discussion with HSI while simultaneously engaging additional firms that brought healthcare expertise
TripleTree worked collaboratively with the Company’s management team to position HSI as a platform investment within the highly fragmented medical cost management industry.
TripleTree managed a highly competitive process, with interest from a number of prospective financial and strategic suitors.
TripleTree worked closely with HSI’s shareholders to identify investors with a combination of attractive valuation for exiting shareholders, deal structure, management incentives, and industry expertise to ensure long-term value creation for HSI’s roll-over investors.
Results
HSI chose Great Point Partners, an investment management company with over $850 million under management and a dedicated private equity fund, as its financial partner. Great Point Partners was selected among a strong group of interested parties as a value-added partner having the best combination of a flexible deal structure, transactional and healthcare industry expertise specific to HSI's focus, and the capabilities to drive follow-on acquisitions. The investment provided liquidity to non-management angel investors while providing current management the ability to actively participate in future value. In addition, HSI now has the necessary financial resources to execute on its strategic plan to aggressively add to its already extensive portfolio of network access and repricing and bill review solutions. In their first two months as partners, HSI and Great Point held numerous discussions with potential acquisition targets, with HSI completing its first acquisition shortly after the investment.
LEAD INVESTMENT BANKERS
Jason Grais
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