Private Equity Firm Invests In Health IT Solutions Provider CNSI
Alvarez & Marsal Capital, a private equity firm, has acquired a majority stake in CNSI, which specializes in healthcare IT management technology.
CNSI, founded in 1994, has roughly 1,000 employees. The company develops solutions that provide claims processing, provider enrollment, data visualization, predictive analytics and other tools to state and federal customers. In January of 2018, CNSI launched a cloud-based, modular Medicaid Management System in the State of Michigan.
Key contract wins in recent months, according to CNSI, include:
- a $166 million contract with the Department of Labor’s Office of Workers’ Compensation Programs;
- a $44 million contract with the Department of Veterans Affairs’ Financial Services Center; and
- a $35 million contract with the Centers for Medicare & Medicaid Services.
ChannelE2E does not know CNSI’s overall revenues or profits. But A&M Capital Partners’ flagship fund provides some clues about CNSI’s business size. Indeed, The fund typically invests $30 million to $100 million in businesses that have enterprise values between $75 million and $750 million, and EBITDA between $10 million and $75 million, the company says.
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