Strategic Combination Adds Scale and Extends Service Offerings to Healthcare Enrollment, Outreach, and Revenue Cycle Services
SCOTTSDALE, Ariz., and CLEVELAND, Ohio, Feb. 7, 2017 – In a move that increases services to Medicare Advantage, Medicaid, and hospital clients, Centauri Health Solutions, Inc. ®, a provider of risk adjustment and healthcare quality solutions, has acquired Human Arc, a leading provider of healthcare enrollment, outreach, and revenue cycle services.
Cleveland-based Human Arc works with providers and payors to identify individuals who may be eligible for government-sponsored health coverage or subsidies, intervening to assist those members and patients through the enrollment processes. The combined firm will provide services extending to more than 20 million Medicare and Medicaid beneficiaries in 2017, through over 650 employees across six regional offices. The national client base includes eight of the top 10 Medicaid plans, five of the top 10 Medicare Advantage plans, and numerous large, integrated hospital systems.
Key benefits under the combined firm include:
· Ensuring that payors and providers receive compensation for the risk they bear, and the high quality care they deliver;
· Providing patients and members with higher quality of care, and in many cases, the ability to obtain incremental income and support, making healthcare more affordable and accessible; and
· Creating a comprehensive view of risk adjustment, enrollment, and the quality of care services resulting in greater efficiencies and incremental value for payors, providers, patients and members.
The acquisition “brings a host of complementary services and creates new opportunities for technology to improve outcomes for the most vulnerable populations within the health system,” said Human Arc CEO Michael J. Baird.
“This is a great combination of similar, mission-oriented companies with strong leadership and exceptional talent,” Baird added. “The industry is entering an interesting but challenging time with the potential for dramatic change and growth in both commercial, Medicare, and Medicaid funding and eligibility paradigms.”
Linking Centauri’s software and technology innovation with Human Arc’s commitment to compassionate outreach and service “positions Centauri for future changes in government-sponsored healthcare programs and provides us with the skill, people, and technology to address the opportunity with agility,” explained Centauri Health Solutions CEO Adam Miller.
“This transitions Centauri from being an emerging innovator to being a significant industry player along the dimensions of scale, client base, and reach,” Miller continued. “It creates a combination of services few others can match.”
The newly combined organization will be headed by Miller, with Baird serving as Vice Chairman of the Centauri Advisory Board.
The investment was led by Silversmith Capital Partners, a Boston-based growth equity firm. Robert W. Baird & Co. acted as the financial advisor to Human Arc. Financial terms of the acquisition were not disclosed.
About Centauri Health Solutions
Centauri Health Solutions focuses on revealing care opportunities through its suite of products and services. Delivering data-driven services, through private cloud-based software solutions, the firm provides comprehensive data management designed specifically for risk adjustment and quality-based revenue programs. Centauri improves member outcomes and financial performance for health plans and at-risk providers by supporting initiatives in risk adjustment, RADV risk mitigation, HEDIS and Star Ratings. Headquartered in Scottsdale, Ariz., Centauri Health Solutions also has offices in Nashville, Tenn., and Orlando, Fla. For more information, visit www.centaurihs.com.
About Human Arc
Human Arc is a national leader in reimbursement and revenue enhancement solutions serving hospitals, health systems and health plans in over 40 states. For over 30 years, Human Arc has provided its clients with governmental program eligibility screening and enrollment for lower income, aged, disabled and other special needs populations. Human Arc helps clients optimize their fiscal health while improving access to healthcare and quality-of-life benefits for the individuals they serve.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $460 million of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The firm seeks to invest $15 million to $75 million per company. Representative investments include ActiveCampaign, Digital Map Products, Impact Radius, Nordic Consulting Partners, and Partners Surgical. The founders have over four decades of collective investing experience and have served on the boards of numerous successful growth companies including Ability Network, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Passport Health, SurveyMonkey, and Yapstone. For more information, visit www.silversmithcapital.com