NEW YORK--(BUSINESS WIRE)--Consonance Capital Partners, the private equity arm of Consonance Capital, a leading healthcare-focused investment firm, announced today that it has completed the acquisition of KEPRO from The Pennsylvania Medical Society. Founded in 1985, KEPRO is a leading medical management and cost containment solutions provider for government and private sector clients in the healthcare sector. Terms of the transaction were not disclosed.
Stephen McKenna, Managing Partner of Consonance Capital Partners, said, “KEPRO is an established national brand with an unparalleled reputation for quality in the medical management space, an area that will continue to experience strong demand as a result of shifting reimbursement models and changing regulatory requirements. We believe that KEPRO, with its world class employee base and talented management team, is poised for the next level of growth, and our investment and support for the business will help facilitate that success.”
Commenting on the transaction, Joe Dougher, President and CEO, KEPRO, said, “We are excited to work with Consonance and believe KEPRO will now be better positioned to capitalize on the many growth opportunities we are seeing in the market. We are confident that Consonance’s national reach as well as its financial and healthcare-specific industry expertise will solidify our commitment to our government and private sector customers, while improving outcomes for their members. This partnership will also enable us to accelerate our pace of expansion and contribute to the development of innovative products and services to complement our integrated suite of medical review and care management solutions.”
Consonance Capital Partners was advised by Latham & Watkins LLP, Foley & Lardner LLP, and Hogan Lovells US LLP. The Pennsylvania Medical Society was advised by McNees, Wallace & Nurick LLC. Fairmount Partners acted as the investment banker for the transaction.
About Consonance Capital
Consonance Capital is a healthcare investment firm that invests broadly across the healthcare landscape. Private investments, which include growth equity, leveraged buyouts, and recapitalizations, are made under the direction of Consonance Capital Partners, a private equity manager led by Mitchell Blutt, MD, Benjamin Edmands, Stephen McKenna, and Nancy-Ann DeParle. Public investments are made under the direction of Consonance Capital Management, a long/short public equity manager. Consonance Capital was established in 2005 and is located in New York City.
KEPRO, a leading quality improvement and care management organization, offers innovative and outcomes-focused solutions to reduce the utilization of healthcare resources and optimize quality of care for government and private sector clients. KEPRO’s comprehensive, member centric care management solutions go far beyond traditional utilization and case management by coordinating the care provided to members with acute, chronic and complex conditions across the continuum, and identifying members who are at the highest risk for future services, but have not yet had an acute event. Tailored programs maximize members’ quality of life, and realize greater cost savings for members and clients. Headquartered in Pennsylvania, KEPRO also has offices in Florida, Minnesota, Ohio, Tennessee, Virginia, and Illinois. KEPRO is URAC accredited in case management, health utilization management, and disease management.
About The Pennsylvania Medical Society
The Pennsylvania Medical Society is comprised of 20,000 physicians and medical students working together to represent physicians in public venues, including the government, insurance companies, and the media, in order to advocate for patients and advance public health, public policy, medical science, education, and ethics. It also provides members with timely information, expert services, and professional support on medical practice issues.