Consonance Capital Partners Signs Definitive Agreement to Sell Enclara Healthcare to Humana
December 16 2019 - 6:00AM
Business Wire
Consonance Capital Partners, a leading healthcare-focused
private equity fund, announced today that it signed a definitive
agreement to sell Enclara Healthcare (“Enclara”), along with
management, to Humana Inc. (NYSE: HUM or “Humana”). Certain assets
are excluded from the transaction and terms have not been
disclosed. Established over 20 years ago, Enclara is a leading
pharmacy solutions provider focused on simplifying care delivery in
complex care populations to improve patient experience, quality and
cost.
Benjamin Edmands, Co-Founder and Managing Partner of Consonance
Capital Partners, said, “It has been a pleasure to partner with
Andy Horowitz, Stephen Phenneger, and the entire Enclara management
team over the past half-decade. The team has done an outstanding
job growing the company organically and through acquisition to
create a market leading and technology driven pharmacy management
business that can support the needs of both national and local
hospice customers, palliative care nurses, patients, and their
caregivers. We are excited to have Humana as a steward going
forward for this business and the critical role that it plays
within the hospice benefit and in serving other home-based chronic
care patients. We wish the Enclara team success with their new
partners.”
Andy Horowitz, CEO of Enclara added, “We greatly enjoyed working
with the Consonance team. They have been a critical partner
throughout Enclara’s evolution over the past five years from a
small hospice-focused pharmacy into a national full-service
specialized pharmacy management platform. We look forward to the
next chapter for Enclara under Humana’s ownership.”
Since making the investment in Enclara in 2014, Consonance has
worked side-by-side with the management team to support the
Company’s transformative growth. During this time, Enclara
completed the acquisition of ExcelleRx, PBM Holdings, and Avanti
Health Care Services, enhanced service offerings, made significant
investments into E3™, a proprietary medication ordering and
management technology platform, and leveraged core competencies to
expand into the chronic care pharmacy space.
Consonance Capital Partners and Enclara were advised by Evercore
Inc. with Latham & Watkins LLP serving as counsel. Humana was
advised by Centerview Partners LLC with Crowell & Moring LLP
serving as counsel.
About Consonance Capital Partners
Consonance Capital Partners invests in private companies in the
lower middle market of the U.S. healthcare industry with an
emphasis on businesses driving efficiency, cost containment and
high quality clinical care to patients. Consonance Capital Partners
participates in growth equity, leveraged buyout, and
recapitalization transactions. For more information, visit
www.consonancecapital.com.
About Enclara Healthcare
Enclara Healthcare is a leading solutions provider focused on
simplifying care delivery in chronic and complex care patient
populations to improve patient experience, quality, and cost. We
collaborate with healthcare organizations to drive value-based care
through expertise, process, and technology. To learn more about our
services visit www.enclarahealthcare.com.
About Humana
Humana Inc. (NYSE: HUM) is committed to helping our millions of
medical and specialty members achieve their best health. Our
successful history in care delivery and health plan administration
is helping us create a new kind of integrated care with the power
to improve health and well‐being and lower costs. Our efforts are
leading to a better quality of life for people with Medicare,
families, individuals, military service personnel, and communities
at large.
To accomplish that, we support physicians and other health care
professionals as they work to deliver the right care in the right
place for their patients, our members. Our range of clinical
capabilities, resources and tools – such as in‐home care,
behavioral health, pharmacy services, data analytics and wellness
solutions – combine to produce a simplified experience that makes
health care easier to navigate and more effective.
More information regarding Humana is available to investors via
the Investor Relations page of the company’s website at
www.humana.com, including copies of:
• Annual reports to stockholders
• Securities and Exchange Commission filings
• Most recent investor conference presentations
• Quarterly earnings news releases and conference calls
• Calendar of events
• Corporate Governance information
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version on businesswire.com: https://www.businesswire.com/news/home/20191216005333/en/
Media: Sloane & Company Whit Clay, 212-486-9500
wclay@sloanepr.com
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