Transactions
June 2008
Med3OOO / Mitsui USA
Company Description
MED3OOO is one of the largest and most advanced healthcare management, outsourcing, and data management companies focused on the physician sector. The Company’s extensive healthcare management and technology resources – along with its proprietary data warehouse containing financial and administrative data for nearly 2% of the U.S. population – empower over 15,000 physician, hospital, and health system clients across the United States. MED3OOO’s solutions enable their customers to reach the highest levels of clinical, operational, and financial performance.
Objectives
MED3OOO’s management team was desirous of bringing in a strategic partner that would enable the Company to embark on a 5-7 year growth strategy to build a premiere $400+ million strategic operations and technology company for physicians and other healthcare providers. This core group of managers was also interested in maintaining a significant percentage of their current ownership following a transaction. As a result, it was determined that a minority recapitalization of the Company would provide liquidity to certain outside investors not involved with the Company’s day-to-day operations while preserving management’s ownership control and the ability to participate in future value creation.
Results
TripleTree approached a select group of global private equity firms that could provide MED3OOO with the optimal blend of capital resources and industry expertise to propel the Company down a path of rapid growth. In parallel to this process, TripleTree held a series of discussions with potential strategic suitors to explore other avenues of strategic partnership and expansion. A series of management meetings were facilitated by TripleTree, resulting in multiple proposals for MED3OOO’s Board of Directors to consider.
Ultimately, the Company decided to partner with Mitsui & Co. (USA), Inc., a wholly owned subsidiary of the $55 billion Japanese-based conglomerate, Mitsui & Co., Ltd. to build a multi-hundred million dollar leader in the outsourced health management, revenue cycle, and technology management services market. The Company’s management team determined that a partnership with Mitsui provided advantages that other private equity investors could not match: a global services reach, an abundance of capital and operational resources, and a unique culture focused on improving healthcare delivery, one of the most significant components of the global economy.
Following the investment, MED3OOO, in conjunction with its new partner Mitsui, will embark on an aggressive acquisition growth strategy, leveraging the strength of the Company’s proprietary data warehouse and software applications, to build the industry’s leading outsourced health management solutions provider.
LEAD INVESTMENT BANKERS
David Brownlie
Seth Kneller
Scott Donahue
Company Description
MED3OOO is one of the largest and most advanced healthcare management, outsourcing, and data management companies focused on the physician sector. The Company’s extensive healthcare management and technology resources – along with its proprietary data warehouse containing financial and administrative data for nearly 2% of the U.S. population – empower over 15,000 physician, hospital, and health system clients across the United States. MED3OOO’s solutions enable their customers to reach the highest levels of clinical, operational, and financial performance.
Objectives
MED3OOO’s management team was desirous of bringing in a strategic partner that would enable the Company to embark on a 5-7 year growth strategy to build a premiere $400+ million strategic operations and technology company for physicians and other healthcare providers. This core group of managers was also interested in maintaining a significant percentage of their current ownership following a transaction. As a result, it was determined that a minority recapitalization of the Company would provide liquidity to certain outside investors not involved with the Company’s day-to-day operations while preserving management’s ownership control and the ability to participate in future value creation.
Results
TripleTree approached a select group of global private equity firms that could provide MED3OOO with the optimal blend of capital resources and industry expertise to propel the Company down a path of rapid growth. In parallel to this process, TripleTree held a series of discussions with potential strategic suitors to explore other avenues of strategic partnership and expansion. A series of management meetings were facilitated by TripleTree, resulting in multiple proposals for MED3OOO’s Board of Directors to consider.
Ultimately, the Company decided to partner with Mitsui & Co. (USA), Inc., a wholly owned subsidiary of the $55 billion Japanese-based conglomerate, Mitsui & Co., Ltd. to build a multi-hundred million dollar leader in the outsourced health management, revenue cycle, and technology management services market. The Company’s management team determined that a partnership with Mitsui provided advantages that other private equity investors could not match: a global services reach, an abundance of capital and operational resources, and a unique culture focused on improving healthcare delivery, one of the most significant components of the global economy.
Following the investment, MED3OOO, in conjunction with its new partner Mitsui, will embark on an aggressive acquisition growth strategy, leveraging the strength of the Company’s proprietary data warehouse and software applications, to build the industry’s leading outsourced health management solutions provider.
LEAD INVESTMENT BANKERS
David Brownlie
Seth Kneller
Scott Donahue
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