Smart Data Solutions Has Been Recapitalized by Parthenon Capital Partners
|Deal Type||Mergers & Acquisitions|
|Client & Transactional Partners||
Smart Data Solutions
Parthenon Capital Partners
|Our Role||Financial Advisor|
Cain Brothers was retained by SDS, a leading provider of data management, claims routing and workflow solutions, as its sell-side advisor due to Cain Brothers’ deep knowledge of the cost containment and payer technology sectors. Cain Brothers conducted a broad marketing process that included both private equity and strategic buyers. As part of the transaction, the Blue Venture Fund, a collaboration of 35 Blue Cross Blue Shield plans, also invested.
Headquartered in Eagan, MN, Smart Data Solutions is a leader in healthcare automation with a mission to make the healthcare market more efficient by leveraging technology to provide effective, high-quality claims processing solutions. SDS streamlines complex and mission critical administrative workflows, reduces operating costs and creates process transparency and efficiency for over 300 healthcare companies. The Company applies internally developed machine learning and deep learning technology to the data extraction and editing processes to minimize latency, reduce costs, and increase auto adjudication rates.
Founded in 1988, Parthenon is a leading growth-oriented private equity firm with offices in Boston, San Francisco, and Austin. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service and technology industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in financial and insurance services, healthcare, and technology services, but seeks any service, technology or delivery business with a strong value proposition and proprietary know-how.