BOSTON--(BUSINESS WIRE)--Mansa Capital Management, LLC, a private equity firm focused on the $2.5 trillion US healthcare market, announced today it has completed an acquisition of Accreon, Inc., a Boston-based healthcare technology and services company that integrates and manages health information. Mansa Capital invested $5.5M 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,” said Jason Torres, Mansa Capital Partner & COO and Accreon Board Member.
Mansa Capital’s $5.5M 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,” said 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 specialized team of experienced business and IT professionals has developed innovative solutions for private and public sector organizations 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.
Additional terms of the acquisition were not disclosed. No further details regarding the deal will be provided by Mansa Capital or Accreon, Inc.
About Mansa Capital
Headquartered in Boston, MA, with local offices in New York City, Miami and Dallas, Mansa Capital is a private equity firm focused on the $2.5 trillion healthcare sector in the US including Puerto Rico and the US Virgin Islands. The firm uses its expertise in healthcare policy and economics to help management teams grow top line revenues and develop new products that build exceptional value. Mansa Capital’s principals bring to the firm extensive expertise in healthcare operations, marketing and finance including senior-level experience in healthcare compliance, regulation and reimbursement. The team has distinctive knowledge in the early identification of innovative business models that enable patients and providers to thrive in the post-healthcare reform environment. The firm also has special insights in the largely untapped Hispanic healthcare market. www.MansaCapital.com
About Accreon, Inc.
Accreon is a healthcare technology and business services firm focused on integrating and managing health information. We assist healthcare organizations to: achieve interoperability by integrating their IT eco-system; establish an analytical environment that empowers learning, agility, and performance resulting in improved outcomes, finances and satisfaction; and enhance IT innovation by providing knowledgeable healthcare expertise and tools to bring solutions to market faster. Accreon has delivered services and built solutions across North America for healthcare provider organizations, government entities, medical device companies and EMR vendors. Accreon has offices in Fredericton, NB, Charlottetown, PEI, Toronto, Ontario and Boston, MA. For more information, visit www.Accreon.com.
Forward Looking Statements
Statements included herein may contain “forward-looking statements”, which relate to our future operations, future performance or our financial condition. Forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results and outcomes may differ materially from those anticipated in the forward-looking statements as a result of a variety of factors, including those described from time to time in our filings with the Securities and Exchange Commission or factors that are beyond our control. Mansa Capital undertakes no obligation to publicly update or revise any forward-looking statements made herein. All forward-looking statements speak only as of the time of this press release.
