Private equity firm Mansa Capital Management has completed an acquisition of Accreon, a Boston-based healthcare technology and services company that integrates and manages health information.
Mansa Capital invested USD5.5 million in Accreon along with the company’s new management team and original founders to finance the acquisition. The deal also facilitates the succession of Eric Demers to the position of President and CEO, Martin Ferguson, SVP of Delivery, and Michael Lavigne, SVP of Sales and Marketing. Joining the Accreon Board of Directors will be Jason Torres, Mansa Capital Partner and Chief Operating Officer, Dr William Winkenwerder Jr , and Tom Burlin, who will serve as the new chairman of the board.
“The Affordable Care Act has created an abundance of opportunity for healthcare technology companies such as Accreon, which is ripe for increased industry leadership in Canada as well as rapid expansion in the US market,” says Jason Torres, Mansa Capital Partner & COO and Accreon Board Member.
Mansa Capital’s USD5.5M institutional investment in Accreon will enable the company to accelerate its growth in the United States and will enhance its position as a market leader in Canada. Accreon deal lead, Jason Torres, says Mansa Capital’s investment in the company coupled with the recruitment of top executives to its board of directors, “gives us confidence in our strategy to guide Accreon’s operations and support top-line business development through this critical growth phase.”
The recruitment of two industry experts to Accreon’s Board of Directors is key to its growth strategy. New board chairman, Tom Burlin, was previously COO of Affiliated Computer Services (ACS), Inc., a global FORTUNE 500 company with 58,000 people supporting client operations reaching more than 100 countries, and provides business process outsourcing and information technology solutions to world-class commercial and government clients. New board member, Dr. William Winkenwerder Jr, most recently served as CEO at Highmark Health, one of the country’s largest diversified health insurance companies, and earlier, held the position of Assistant Secretary of Defense for Health Affairs.
“Accelerated growth in the US market will have significant positive impacts on our business across North America,” says Accreon CEO, Eric Demers. “We will continue to combine our expertise in technology and strategy with a closely integrated, flexible delivery approach to help healthcare enterprise clients across Canada and the US deliver results that aim to streamline operations, and improve outcomes.”
For more than 30 years, Accreon’s highly specialised team of experienced business and IT professionals has developed innovative solutions for private and public sector organisations across North America. The company enables its enterprise clients to meet their Information Technology infrastructure and development goals through Management Consulting, IT Services, Managed Application Services and Product Innovation.