CNSI to merge with Tenn. health services company
Merger expected to close in December
McLean-based health information technology provider CNSI and Nashville, Tennessee-based health care management tech company Kepro have agreed to merge, the two firms announced Wednesday.
The combined company will provide government-sponsored health care agencies and payers with clinical services, provider management, health claims, processing and health analytics services. The merger is expected to close in December. Axios reported Wednesday the combined company makes close to $500 million in revenue.
CNSI CEO Todd Stottlemyer will lead the new company. Kepro President and CEO Dr. Susan Weaver will be president. Both will sit on the new board of directors.
“The combination of CNSI and Kepro aligns with the strategic objectives of both companies to deploy technology-enabled products, solutions and services that help our clients achieve their mission and better serve their priority populations,” Stottlemyer said in a statement.
Affiliated funds of Washington, D.C.-based private equity firm The Carlyle Group own CNSI, and funds affiliated with Apax Partners LLP own Kepro. Apax Funds will be exiting its investment through the merger.
“The combination brings CNSI’s leading health technology capabilities together with Kepro’s clinical expertise and unique service offerings, allowing the company to better serve its clients and improve care quality and health outcomes,” Dayne Baird, a CNSI board member and managing director at Carlyle, said in a statement.
The new company will maintain both the McLean and Nashville locations. It will rebrand in early 2023, according to a news release.
CNSI has 1,200 employees. Kepro has 1,700 employees across 17 offices, and a network of 4,500 doctors and 450 clinicians who serve on its advisory and review panels.