CareMetx (or the “Company”), a leading technology-enabled hub services company improving patient access to specialty medications, General Atlantic, a global growth equity firm, and The Vistria Group, a Chicago-based private investment firm, today announced a strategic partnership to further accelerate the Company’s growth. With the transaction, General Atlantic will become the majority owner of CareMetx. The Vistria Group, existing majority shareholder in CareMetx since 2017, will maintain a significant position in the Company by reinvesting through Vistria Fund III, LP. Additionally, Marty Nesbitt, Co-CEO of The Vistria Group, will serve as the Chairman of the Company.
Co-founded in 2011 by Bob Dresing and Mark Hansan, hub services pioneers, CareMetx is leading the transformation of the industry from traditional call center services to a “Digital Hub”which integrates the Company’s proprietary technology platform with award-winning patient and provider support. CareMetx works on behalf of pharmaceutical and biotechnology companies to help patients and providers navigate reimbursement complexities and will continue to launch new products intended to lower the cost burden for patients on high-cost therapies.
Mark Hansan, President and CEO of CareMetx, said, “With patients continuing to face obstacles, we are excited to have the combined capabilities of General Atlantic and Vistria behind our efforts to scale our platform, invest in our team and bring new capabilities to our clients.”
“CareMetx is a disruptor in pharma commercialization services, differentiated by its focus on leveraging technology and grounded in its commitment to helping patients,”commented Justin Sunshine, Managing Director at General Atlantic. “CareMetx plays a critical role to ensure specialty therapeutics effectively reach the patients who need them, and we look forward to working with Mark and the CareMetx team to further accelerate the Company’s growth.”
“Over the last three years of our partnership, CareMetx has demonstrated its commitment to rethinking and reinventing traditional approaches to hub services,”continued Jon Maschmeyer, Partner at The Vistria Group. “We are proud to continue supporting CareMetx’s growth and welcome the new partnership with General Atlantic.”
“We are honored Vistria has decided to reinvest in CareMetx,”Hansan added. “They have been an outstanding partner that backed two important acquisitions and accelerated our development of new products and services. Now with General Atlantic as a partner, we are confident their years of investment across the healthcare ecosystem will help scale our delivery of real-time transaction processing and services to physician practices struggling to overcome barriers for patients.”
Terms of the deal were not disclosed. The Company was advised by Baird and North Point Advisors.