WAYNE, PENNSYLVANIA – October 20, 2017: Falcon Capital Partners, a leading middle-market investment bank, announced today the successful sale of Clinix Medical Information Services (“Clinix”) to Harris Computer’s Healthcare Group (“Harris”).
Clinix, founded in 1985 and headquartered in Brentwood, TN, provides a powerful cloud-based practice management software system designed to streamline workflow and maximize efficiency for billing companies and independent physician groups. The SaaS solution serves more than 300 physicians in 50 practices and more than 900 billing services partners in 240 locations across the country. Clinix operated as a wholly owned subsidiary of Schumacher Clinical Partners, backed by private equity firm Onex Partners, after its acquisition of ECI Healthcare Partners in 2016.
Falcon Capital Partners served as exclusive financial advisor to ClinixMIS and assisted Schumacher Clinical Partners in carving out the specific assets from its corporate structure. Chris Cotteleer, Chief Information Officer of Schumacher Clinical Partners and Acting President of Clinix, writes, “Falcon was an extremely valuable partner in getting this deal across the finish line. Throughout the process they demonstrated their subject matter expertise in both healthcare transactions and corporate carve-outs. The Schumacher team and I are very happy with the outcome and the home that Clinix has found with Harris Corporation as they continue to grow their healthcare business.”
The terms of the transaction were not disclosed. The Harris press release can be found on their website here.
The Falcon deal team was led by Managing Director Ted Stack, Vice President Rob Jennings, and Senior Associate Conrad Olenik.