Cain in the News: Consonance Capital Exits KEPRO
May 31, 2017
May 30, 2017 – Consonance Capital Partners has sold KEPRO, a medical management and cost containment solutions for government and private sector clients in the healthcare sector.The buyer was not identified. No financial terms were disclosed. Leerink Partners LLC and Cain Brothers & Company LLC advised Consonance and KEPRO on the transaction.
New York, NY, May 30, 2017 – Consonance Capital Partners, a leading healthcare-focused private equity firm, announced today that it has completed the sale of KEPRO. Terms of the transaction were not disclosed. Founded in 1985, KEPRO is a leading technology-enabled payer services business focused on delivering quality, cost, and care management solutions.
Stephen McKenna, Co-Founder and Managing Partner of Consonance Capital Partners, said, “It has been a pleasure to partner with Joe Dougher, KEPRO’s CEO, and the rest of the management team in their efforts to build and transform the business. Over the three years of our partnership, Joe and his team did an outstanding job growing the company organically and through acquisition to create a leader in their sector and a company that provides innovative, high-quality and low cost services for its clients, while improving outcomes for beneficiaries. This is a fundamental premise that is closely aligned with our investment style. We wish Joe and the management team at KEPRO much success with their new partners and we are confident that the company will continue to actively invest in the business to develop next generation customer solutions.”
Since making the investment in KEPRO in 2014, Consonance Capital Partners worked closely with the management team on a number of strategic initiatives to help drive growth. During this time, KEPRO expanded its geographic footprint, completed the acquisition of APS Healthcare, and added a number of new customers and service offerings. KEPRO evolved to become a nationally recognized, highly reputable, and scalable payer services platform.
Consonance Capital Partners and KEPRO were advised by Leerink Partners LLC and Cain Brothers & Company, LLC, with Latham & Watkins LLP, Foley & Lardner LLP, and Hogan Lovells US LLP serving as counsel.
About Consonance Capital Partners
Consonance Capital Partners invests in private companies in the lower middle market of the U.S. healthcare industry with an emphasis on businesses driving efficiency, cost containment and high quality clinical care to patients. Consonance Capital Partners founders, Mitchell Blutt, MD, Benjamin Edmands, Stephen McKenna, and Nancy-Ann DeParle, partnered together for over a decade while at JPMorgan Partners and its successor and predecessor entities, and have over 80 years of combined experience in private equity investing, primarily within healthcare. Consonance Capital Partners participates in growth equity, leveraged buyout, and recapitalization transactions and is currently investing out of a $500 million fund. The private equity fund is associated with Consonance Capital Management, a healthcare-focused long/short public equity manager, and together Consonance Capital has over a billion dollars of assets under management. For more information, visit www.consonancecapital.com.