CareMetx, General Atlantic, a global growth equity firm, and The Vistria Group, a Chicago-based private investment firm, recently announced a strategic partnership to further accelerate the company’s growth.
With the transaction, General Atlantic will become the majority owner of CareMetx. The Vistria Group, existing majority shareholder in CareMetx since 2017, will maintain a significant position in the company by reinvesting through Vistria Fund III, LP. Additionally, Marty Nesbitt, Co-CEO of The Vistria Group, will serve as the Chairman of the Company.
Co-founded in 2011 by Bob Dresing and Mark Hansan, CareMetx is leading the transformation of the industry from traditional call center services to a “Digital Hub” which integrates the company’s proprietary technology platform with award-winning patient and provider support.
CareMetx works on behalf of pharmaceutical and biotechnology companies to help patients and providers navigate reimbursement complexities and will continue to launch new products intended to lower the cost burden for patients on high-cost therapies. With over 600 employees, CareMetx serves more than 80 brands.
Recently, CareMetx started a new division, OutcomeRx, to focus on holistic solutions for biotech companies to address the patient, manufacturer, and payer challenges in the evolving Cell and Gene Therapy (CGT) market.
On January 1, 2018, private equity firms Petra Capital Partners and The Vistria Group acquired CareMetx LLC. Petra Capital Partners is a private investment firm and The Vistria Group is a middle-market private equity firm focused on the education, healthcare, and financial services industries.
Takeaway: The rapid growth of the specialty hub services market continues to attract private equity investments