Comvest Partners, with co-investor Mosaic Health Solutions, today announced it has completed the acquisition of McKesson Corporation’s Care Management business, which will be renamed AxisPoint Health (“the Company”). Headquartered in Westminster, CO, AxisPoint Health is a leading provider of care management services to payers and other risk-bearing entities. The Company’s offerings include complex and chronic case management services, nurse advisory services, and a care management software platform used by payers to manage utilization, disease, and case management services in-house. AxisPoint Health currently provides its services through nurses and other clinical professionals in 24 states.
The acquisition signals new opportunities for the Company and a continued commitment to improving cost savings for payers and other risk-bearing organizations by delivering better health outcomes for members. AxisPoint Health will build on its key strengths — improving health outcomes, simplifying complex care, and directing members to the right care at the right time.
“In the new era of value-based health care, the entire industry is reorienting around achieving the best outcomes by identifying the most appropriate levels of care,” said Roger Marrero, Partner at Comvest Partners. “We believe that AxisPoint Health starts out with deep experience and capabilities in the market for connecting members to the right care in the most cost-effective way. We plan to further invest in AxisPoint Health’s technology and solution offerings in order to improve an individual’s experience throughout the continuum of care.”
"This change in ownership represents a terrific opportunity for the Care Management business, which will be even better positioned to execute on its growth strategies. In addition, it will enable McKesson to focus on our core strengths," said Jeff Felton, president, McKesson Connected Care & Analytics. "With deep expertise in this market, Comvest Partners is the right company to support the business and invest in future innovation. I am confident that Care Management customers and employees will benefit from their commitment to this business."
“AxisPoint Health excels in simplifying care management for the most complex patients,” said Maureen O’Connor, President of Mosaic Health Solutions. “This investment aligns well with our vision of accelerating health innovation that expands access and improves the quality of health care.”
McDermott Will & Emery served as legal advisor to Comvest Partners. MidCap Financial and Pacific Western Bank provided financing for the transaction.