The Gores Group Acquires GE Healthcare Strategic Sourcing
The Gores Group Acquires GE Healthcare Strategic Sourcing
LOS ANGELES--(BUSINESS WIRE)-- The Gores Group, a leading Los Angeles-based investment firm, today announced that it has completed the acquisition of GE Healthcare Strategic Sourcing from GE Healthcare.Terms of the transaction, which was led by The Gores Small Capitalization Partners, were not disclosed.
Headquartered in Wilbraham, Mass., GE Healthcare Strategic Sourcing is a leading provider of electronic billing and electronic medical records outsourcing solutions to the healthcare industry. Founded nearly ten years ago, GE Healthcare Strategic Sourcing provides services to some of the most recognized healthcare systems in the United States.
"The Gores Group is excited about the acquisition of GE Healthcare Strategic Sourcing," said Victor C. Otley, Managing Director for The Gores Group. "We believe this platform offers great opportunity to continue the delivery of quality services using the GE Healthcare technology platform. We look forward to working with management and employees as we build on the services and capabilities as an independent platform."
Rob Gontarek, the company's newly appointed CEO, said, "GE Healthcare Strategic Sourcing occupies a unique position in the market, with the ability to provide top-tier electronic medical record and outsourced revenue cycle management to very large multispecialty physician groups. The existing management team's expertise and state of the art technology provides an exciting opportunity for growth."
The company will operate under the name Meridian Medical Management.
About The Gores Group, LLC
The Gores Group, LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group maintains offices in Boulder, CO, and London. For more information, please visit www.gores.com.
About GE Healthcare
GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world. GE (NYS: GE) works on things that matter - great people and technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions, GE Healthcare helps medical professionals deliver great healthcare to their patients.
For The Gores Group, LLC
Frank Stefanik
(310) 209-3010
or
Sitrick And Company
Terry Fahn
(310) 788-2850
or
For GE Healthcare
Corey Miller
(414) 469-5499
KEYWORDS: United States North America California
INDUSTRY KEYWORDS:
The article The Gores Group Acquires GE Healthcare Strategic Sourcing originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
