Cogent Growth Partners (CGP), the leading buy-side advisory firm for IT Services mergers and acquisitions, announced that it guided MDcentric Technologies through its sale to Medicus IT, one of the country’s leading providers of managed IT services to healthcare providers and organizations.
“M&A activity in the healthcare sector has been fast and furious for the past few years as HIT MSPs consolidated,” said Rick Murphy, CEO and Managing Partner, Cogent Growth Partners. “Consulting for the sell-side, while not our core business, is also what we do every day during our buy-side activities, so helping sellers occasionally allows us to leverage our abilities and help both sides get through the confirmatory due diligence and contract phases in a happy state, which is critical to M&A success.”
Recommended AI: QuickLogic Drives eFPGA Innovation with New Aurora Development Tool Suite
MDcentric Technologies, based in Charlotte, North Carolina, specializes in providing co-managed IT services, cybersecurity, VoIP, cloud computing and device management services to the ambulatory healthcare market. These services not only improve the efficiency of care, they create an improved digital experience for their customer’s patients across the Carolinas.
“Cogent’s proprietary processes helped us navigate through the complexities of due diligence and all of the myriad contracts and schedules with ease,” said Clint Harris, CEO, MDcentric. “With Cogent at our side, we were able to stay focused on the ‘why’ behind the deal and the overall opportunity, not just the numbers.”
Recommended AI: Philips Speech and Sembly AI Launch SmartMeeting As Answer To New Meeting Culture
For Alpharetta, Georgia-based Medicus IT, one of the country’s largest providers of managed IT services for the healthcare industry, acquiring MDcentric is the fifth time the company has chosen to supplement its organic growth with a merger. Medicus IT has specifically chosen to acquire providers of managed IT services that understand the compliance-heavy healthcare environment.
“As a serial acquirer, we are clear about what we are looking for: an MSP with deep technical and compliance experience in the highly regulated ambulatory healthcare environment,” said Chris Jann, CEO of Medicus IT. “Cogent has deep experience doing the work-product required to make IT deals happen through to closing, and their deep bench of talented M&A people have the experience we need to help us get these deals done. Those two factors made working with Cogent a natural for us.”
Recommended AI: UTB Bot Unveils a New Way to Leverage Automation and Cryptocurrencies
[To share your insights with us, please write to sghosh@martechseries.com]
Comments are closed.