SAN FRANCISCO, CA--(Marketwired - Jun 26, 2013) - ArchPoint Partners (ArchPoint) is pleased to announce that it acted as sole financial advisor to Healthation, Inc. in a $14 million investment in the Company by ABS Capital Partners, and Hughes & Company. These investors join SilverStream Capital in backing the company, a leading provider of core administrative systems for traditional and emerging healthcare payers and administrators. The transaction, one of a series of transactions advised by ArchPoint Partners in the payor technologies domain, closed in May of 2013.
Darin LeGrange, CEO of Healthation, commented: "The ArchPoint Partners team played a material role in helping our company optimize alternatives and closing this financing from ABS and Hughes. ArchPoint understands the healthcare technology landscape at an elemental level, and we were pleased to work with them on this transaction."
SilverStream partner Cary Devore said: "The team at ArchPoint helped us to achieve this successful transaction and we benefitted greatly through their focused efforts and expertise in analyzing market alternatives, and ultimately securing this partnership."
John Cooper and Susan Blanco, founding partners at ArchPoint, were lead advisors to the company and its investors in this transaction. Cooper commented: "It is very fulfilling to have completed another healthcare technology (HCIT) transaction, as ArchPoint Partners continues to be recognized as a top-tier advisor in this sector. Our relationship with Healthation is just beginning, and we hope to continue our work with investors and management both as the company executes on its planned growth path."
About ArchPoint Partners:
ArchPoint Partners is consistently credited with market-leading financing and business combination outcomes in the technology and media sectors. ArchPoint leverages its combined experience in operations, strategy and investment banking to provide astute strategic advice for mergers, acquisitions, divestitures, spin-offs, private capital raising and restructuring. In addition, the firm provides both long-term and short-term board advisory services. ArchPoint is based in San Francisco, California and serves clients worldwide. For more information, please visit www.archpoint.com.
About Healthation, Inc.
Healthation is a comprehensive, rules-based, and user-configurable core administrative system that offers a single, Web-based platform for all healthcare lines of business, including medical, dental, vision and pharmacy. The company's offerings are available via a SaaS subscription model in either an ASP or client-hosted environment. For more information, please visit www.healthation.com.
About ABS Capital Partners
ABS Capital Partners has a simple mission -- to invest in the very best late-stage growth companies. Our singular focus has allowed us to cultivate a deep understanding of what it takes to get promising businesses to the next level. Our priority is finding the best growth companies -- not completing certain types of transactions or investing specific amounts of dollars. Our flexibility allows us to structure the right deal to support a company's growth trajectory and particular needs. We actively partner with CEOs to tackle the challenges of rapid expansion and create significant long-term value. Our partners are highly experienced at working with growth companies -- each having spent between one and three decades in their industry as C-level executives, investment bankers, consultants or investors.
ABS Capital Partners specializes in four growth sectors -- business and education services, health care, media and communications, and technology -- and has invested in over 100 growth companies over the past two decades. With over $2 billion raised since inception, including $500 million in its latest fund, ABS Capital continues to build on its strong reputation for teaming with CEOs and market leaders to deliver strong returns to investors. For more information, please visit www.abscapital.com.
About Hughes & Company
Hughes & Company is a healthcare focused, operating-driven private equity firm, investing in healthcare product and service companies, favoring businesses positioned for growth and market leadership. For more information, please visit www.hughes-co.com.
About SilverStream Capital
SilverStream Capital is an alternative investment firm with approximately $1 billion of assets under management. Our primary objective is to generate superior performance for our partners by allocating capital to situations that offer a compelling risk-adjusted return profile. We believe that identifying assets with significant value creation potential, and partnering with great managers, leads to long-term out-performance. For more information, please visit www.silverstreamcapital.com.
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