William Blair is acting as exclusive financial advisor to Bolder Healthcare Solutions (“BHS”), a portfolio company of Edgewater Funds and JZ Partners, in connection with its pending sale to Cognizant Technology Solutions (NASDAQ:CTSH). The transaction was signed on March 8, 2018, and is expected to close in the second quarter of 2018. This will mark William Blair’s 51st transaction in the healthcare IT and related technology-enabled services sector since 2015.
Transaction Highlights
- Sector expertise: BHS, Edgewater Funds, and JZ Partners were attracted to William Blair’s extensive knowledge and experience in the healthcare revenue cycle management sector (“RCM”), and its strong relationships with and insight into the relevant potential acquirers for BHS.
- Execution excellence: William Blair was integrally involved in each step of this transaction, closely collaborating with management in articulating the BHS vision to the marketplace, developing effective and insightful marketing materials, undertaking extensive up-front diligence preparation, and conducting an intense, multi-stage sale process to generate a competitive dynamic among strategic and financial buyers. Collectively, this enabled William Blair to produce a market-clearing outcome for BHS and its shareholders.
- Trusted guidance: William Blair’s hands-on involvement and effective communication, along with industry insight, intelligence on potential acquirers, and M&A process tactics, enabled the senior deal team to serve as a trusted partner to BHS, Edgewater Funds, and JZ Partners. The senior team leveraged experience from relevant prior transactions to enable BHS to credibly define, track, and monetize key financial attributes that were instrumental in driving transaction value.
About the Companies
BHS is a leading independent provider of specialized healthcare revenue cycle management solutions to hospitals, physician groups, and government providers. The company serves more than 500 unique customers and over 1,400 facilities nationwide. BHS was purposely built to solve the most complex healthcare RCM challenges through a range of niche solutions that form an integrated, end-to-end platform. The company delivers its diversified portfolio of solutions through dedicated Centers of Excellence spread across 13 U.S. offices plus two fully owned offshore centers in India that enable a 24/7 global delivery model.
Cognizant is one of the world’s leading professional services company, providing consulting and technology, and outsourcing services worldwide. With more than 260,000 employees located in 35 countries, the company offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services. Cognizant also develops, licenses, implements, and supports various software products for the healthcare industry.
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