Intermedix Corporation ("Intermedix"), a leading provider of revenue cycle management and software solutions to the emergency healthcare industry, announced today that Thomas H. Lee Partners, L.P. ("THL") has signed a definitive merger agreement to acquire the Company from Parthenon Capital Partners ("Parthenon") and its minority shareholders.
“We look forward to working with the Intermedix management team to continue to build the company and serve its clients.”
"We have benefitted enormously from our partnership with Parthenon over the past five years and appreciate the productive relationship we've had with them," said Doug Shamon, Chief Executive Officer of Intermedix. "We are excited to begin working with THL, which has an established track record of helping portfolio companies improve performance and accelerate growth. THL's extensive experience in business services and healthcare will be pivotal in enabling Intermedix to continue to provide exceptional service to its clients and to be the leader in its chosen markets."
"Intermedix is a clear market leader in the rapidly growing emergency healthcare information technology and services sector," said Todd Abbrecht, Managing Director at THL. "We look forward to working with the Intermedix management team to continue to build the company and serve its clients."
"We have greatly enjoyed working with the Intermedix team for almost five years and are proud to have contributed to such a strong company," said David Ament, Managing Partner at Parthenon. "We believe Intermedix is uniquely positioned in the industry, and we look forward to their continued success in the future."
The transaction, which has received early clearance under the Hart-Scott-Rodino Act, is expected to close next month. Financial terms of the transaction were not disclosed.
Goldman, Sachs & Co. acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor to Intermedix. Citi and Wells Fargo Securities acted as financial advisors and Weil, Gotshal & Manges LLP acted as legal advisor to THL in connection with the transaction. Citi, Wells Fargo and TCW/Crescent Mezzanine Management V, LLC provided financing commitments to THL to support the transaction.