HARRISBURG, Pa.--(BUSINESS WIRE)--KEPRO, Inc. (“KEPRO”), a leading quality improvement and care management organization, in partnership with Consonance Capital Partners ("Consonance"), a leading healthcare private equity fund, announced that they have acquired APS Healthcare from Universal American.
The combination will enhance KEPRO’s ability to provide a comprehensive and high quality set of service offerings through an integrated approach to medical management – an area that will continue to experience strong growth as a result of shifting reimbursement models and changing regulatory requirements. The company’s wide breadth of services will continue to include member centric care management solutions, physical and behavioral health utilization management, employee assistance and absence management programs, as well as other offerings such as pre-admission screening and resident reviews.
Joseph Dougher, President and Chief Executive Officer of KEPRO, said, “APS Healthcare has built a reputation as a leader in medical management and together, KEPRO and APS Healthcare are dedicated to providing additional value through differentiated programs that truly meet our customers’ specific needs. The culture and values of both companies are well aligned, and APS Healthcare will bring a wealth of expertise to the combined company. We are excited to partner with APS Healthcare to continue to provide outcomes-focused solutions to reduce unnecessary healthcare utilization and optimize care quality for all of our customers.”
Stephen McKenna, Managing Partner of Consonance Capital Partners, said, “APS Healthcare has a long history of providing customers with high quality services that help improve outcomes while lowering costs, and I am confident that the complementary industry-leading expertise KEPRO brings will enable the combined company to continue to grow and further solidify its longstanding commitment to its customers.”
Consonance Capital Partners was advised by Latham & Watkins, LLP and Foley & Lardner LLP.
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 public and commercial 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 APS Healthcare
APS Healthcare, headquartered in Mechanicsburg, PA, is a leading provider of specialty healthcare solutions. APS delivers customized, integrated healthcare solutions that help people engage in behaviors that optimize their health status. By uniting all participants in the healthcare landscape – individuals, practitioners and payers – APS Healthcare improves overall health and reduces total healthcare expenditures.
About Consonance Capital
Consonance Capital Partners invests in private companies in the lower middle market of the U.S. healthcare industry with an emphasis on businesses driving efficiency, cost containment and high quality clinical care to patients. Consonance Capital Partners founders, Mitchell Blutt, MD, Benjamin Edmands, Stephen McKenna, and Nancy-Ann DeParle, partnered together for over a decade while at JPMorgan Partners and its successor and predecessor entities, and have over 70 years of combined experience in private equity investing, primarily within healthcare. Consonance Capital Partners participates in growth equity, leveraged buyout, and recapitalization transactions and is currently investing out of a $500 million fund. The private equity fund is associated with Consonance Capital Management, a healthcare-focused long/short public equity manager, and together Consonance Capital has over a billion dollars of assets under management. For more information, visit www.consonancecapital.com.