Fri, 10/01/2014 - 16:06
An affiliate of private equity firm Warburg Pincus has invested USD40m in ComplexCare Solutions, to fund future growth initiatives at the risk assessment and care management services provider.
ComplexCare's management team will continue to hold a significant interest in the company.
Since its founding in 2010, ComplexCare has developed into a fast-growing health services company in the USD1bn addressable market for outsourced risk assessment and care management services by providing in-home health risk assessments and care management services through a network of qualified interdisciplinary care teams. With an increasing demand from Medicare Advantage, Managed Long-Term Care, Managed Medicaid and other payers and providers to enhance delivery of care to high-risk members, the market for these outsourced services is expected to double over the next five years.
"By leveraging Warburg Pincus' experience, expertise and growth capital, we will be able to accelerate the company's long-term business plan by focusing on development initiatives, taking advantage of new market opportunities and executing on a track record of innovative payer, provider and patient services to meet the demands of the rapidly evolving healthcare marketplace," says Mark Blackburn, chief executive officer, ComplexCare.
"We have been impressed with ComplexCare's growth and market expansion and we are excited to partner with John, Mark and the ComplexCare team," says Elizabeth H Weatherman, managing director and head of the healthcare group, Warburg Pincus. "With ComplexCare's strong core business and the continued increase of Medicare and Medicaid beneficiaries moving into privately-managed plans, we believe the company is well positioned for continued success."
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