SOUTHLAKE,
Texas, April 18, 2024 /PRNewswire/ -- Gauge
Capital ("Gauge"), announced that it has partnered with the
management team of Lucent Health (www.lucenthealth.com) ("Lucent"
or the "Company") to provide growth capital and recapitalize the
Company. Founded in 2014 and headquartered in Nashville, TN, Lucent is a leading third-party
administrator and cost containment solution provider to
self-insured employers across the U.S. The Company has
established itself as a partner of choice through its ability to
help employers reduce healthcare costs while simultaneously
improving the member experience and health outcomes. Gauge acquired
Lucent from a consortium of investors led by NaviMed Capital of
Washington, D.C.
"We founded Lucent with a customer-focused
mission of relentlessly pursuing lower healthcare costs for our
customers and an improved experience for their employees. We're
proud of the success we've had achieving this mission and eagerly
anticipate leveraging the resources and support offered by Gauge to
accelerate our growth," said CEO Brett
Rodewald. "The Gauge team understands Lucent's vision for
the future and embraces our commitment to delighting our customers
by providing innovative, data-driven solutions that address both
the costs and complexities of the healthcare system."
David Friedman,
Partner at Gauge Capital added, "Brett, Alex and the entire Lucent
team have done an impressive job of executing on the vision they
created when they founded Lucent 10 years ago. We have been highly
impressed with the comprehensive cost containment solutions that
Lucent has built and believe Narus Health, Lucent's care
management platform, will continue to fuel growth and differentiate
Lucent from its competitors. We are thrilled to partner with the
entire management team to grow and build the business, and we
believe there are several exciting organic growth and M&A
opportunities to pursue that will further enhance Lucent's ability
to reduce costs while enhancing the member experience for its
customers."
As part of the partnership, David Friedman, Stan
Dennis, and Alex Asbill from
Gauge Capital have joined the Company's Board of Directors.
McDermott Will & Emery served as
legal advisor to Gauge and Harris
Williams served as buy side advisor to Gauge. Cain Brothers served as financial advisor to
Lucent Health.
About Gauge Capital (www.gaugecapital.com)
Gauge Capital is a middle-market private equity
firm based in Southlake, Texas.
Gauge invests in five key sectors: business services, food &
consumer, government & industrial services, healthcare, and
technology. The Firm manages more than $3.0
billion in capital. For more information, please
contact Chris Garvin, Principal,
Business Development at cgarvin@gaugecapital.com.
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SOURCE Gauge Capital