From the Wires
Arcadia Solutions Acquired by Ferrer Freeman & Company and Senior Management
Nov. 14, 2012 07:03 AM
Arcadia
Solutions, LLC (“Arcadia” or “the company”), a leading provider of
data-driven Health IT services, and Ferrer
Freeman & Company LLC (“FFC”), a private equity firm focused on
growth capital investments in the healthcare industry, today announced
the acquisition of Arcadia by an FFC managed fund and the Arcadia senior
management team. Terms of the deal were not disclosed.
Founded in 2002, Arcadia delivers services and proprietary software to
large healthcare providers, payors, accountable care organizations and
health information exchanges. The company’s solutions enable the
successful implementation and optimization of electronic health records
(EHRs) in its customers’ ambulatory physician settings and allow
customers to analyze and report clinical data. In partnership with
Arcadia, customers are empowered to make better clinical and financial
decisions and lower the total cost of care.
“When evaluating strategic partners, it was important for us to find an
investor with deep experience and a broad network in the healthcare
industry as Arcadia enters the next phase of growth and establishes its
position as a national player,” said Seth Henry, Founder and President
of Arcadia. “FFC shares our vision for the future of Arcadia. Our
customers have validated the increasing need for a national firm that
can optimize results by delivering clinical IT to the ambulatory market.
With FFC’s relationships and expertise, we will continue to expand and
enhance our presence.”
"Providers and payors must include physicians in system-wide IT
platforms in order to succeed in today’s rapidly evolving healthcare
industry. Arcadia’s solutions enable its customers to do just that,”
said Carlos Ferrer, co-founder of FFC. “We are excited to work with
Arcadia’s management team to build upon their accomplishments and help
them to realize the company’s significant potential.”
FFC and the Arcadia Solutions management team believe that there is a
substantial growth opportunity in the market as industry participants
continue to implement and manage IT systems that can meet the growing
demands of the healthcare industry. FFC will help to accelerate
Arcadia’s growth and support the company’s evolution of services,
intellectual property and geographic expansion.
"Successful execution of healthcare reform is built on a foundation of
electronic health records, information exchange and analytics. The next
three years of healthcare IT stimulus programs will continue to
accelerate the need for technology and services in support of this new
paradigm,” said John D. Halamka, MD, MS, Chief Information Officer, Beth
Israel Deaconess Medical Center, an Arcadia customer.
Carlos Ferrer, David Freeman and Ted Lundberg of FFC will join Arcadia’s
Board of Managers. In addition, Jim Crook, a healthcare IT industry
veteran who was CEO of IDX Systems when it was sold to GE Healthcare for
$1.2 billion, will also join the Board.
About Ferrer Freeman & Company
Ferrer Freeman & Company, LLC, is a private equity firm located in
Greenwich, CT focuses exclusively on growth capital investments in the
healthcare industry. Since its founding in 1995, FFC has invested over
$900 million in 36 portfolio companies. FFC invests in established
companies with significant growth opportunities and entrepreneurial
management teams. FFC has a demonstrated track record of leveraging its
comprehensive healthcare network and decades of experience to help build
market leading organizations. More information on FFC is available at www.ffandco.com.
About Arcadia Solutions
Arcadia Solutions is a leading provider of data-driven Health IT
services that engages with both payors and providers to design,
implement, and manage healthcare information technology infrastructure
and applications in their ambulatory settings. Arcadia has assisted its
customers with a variety of important HIT objectives, such as achieving
meaningful use attestation, developing accountable care organization
quality measures, integrating ambulatory and acute electronic medical
records to provide system-wide data and reporting tools and using that
data to lower the total cost of care. For more information, visit www.arcadiasolutions.com.
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