“Global investment firm Carlyle (NASDAQ: CG) announced today that affiliated funds managed by Carlyle have agreed to acquire CNSI from Alvarez & Marsal Capital Partners.”
“CNSI provides innovative healthcare technology solutions for some of the most forward-thinking State and Federal clients. As a trusted partner to government agencies, CNSI develops, implements, operates, and maintains mission-critical systems for Medicaid, Medicare, and related health programs through its claims and encounter processing, provider enrollment, analytics, program integrity, interoperability, and other solutions.”
“Todd Stottlemyer, who became CEO of CNSI in 2018, will continue to lead the company. Stottlemyer has previously partnered with Carlyle as a senior executive at BDM International. “We are delighted about this opportunity to partner with Carlyle as we continue to execute exquisitely for our clients, strengthen our market leading products and solutions, and drive innovation that improves health outcomes and lowers costs,” said Stottlemyer. “Carlyle is a first-class organization, and I know from my previous experience working with them that they truly partner with their portfolio companies to help them achieve their vision and strategic growth objectives.”
“We are very excited to partner with Todd Stottlemyer and the CNSI management team. We believe CNSI is well-positioned for continued success driven by its technical leadership and proven track record of innovation and execution,” said Dayne Baird, Managing Director at Carlyle. “CNSI operates at the unique intersection of technology, healthcare and government services, and we see significant growth opportunities ahead as the company leverages its unique capabilities and continues to develop market-leading solutions.”
“It has been a fantastic partnership with the CNSI management team. Throughout our four-year investment, the team successfully leveraged CNSI’s market leading technology solutions to build a highly scalable platform for growth in the healthcare technology marketplace. We look forward to the team’s continued success as they begin their next phase of growth in partnership with Carlyle,” said Alex Nivelle, Partner at Alvarez & Marsal Capital Partners.”
“Baird acted as the exclusive financial advisor to CNSI in connection with the transaction. Kirkland & Ellis LLP acted as legal advisor to CNSI. Latham & Watkins LLP acted as legal advisor to Carlyle. The transaction is expected to close in December 2021, subject to the satisfaction of customary closing conditions…” Read the full press release here.
Source: Carlyle Announces Acquisition of Leading Healthcare Technology Solutions Provider CNSI, December 2, 2021. CNSI.