Arcadia Solutions, LLC, a provider of data-driven HIT services, and Ferrer Freeman & Company LLC (FFC), a private equity firm focused on growth capital investments in the healthcare industry, recently announced the acquisition of Arcadia by an FFC managed fund and the Arcadia senior management team. Terms of the deal were not disclosed.
Founded in 2002, Arcadia delivers services and proprietary software to large healthcare providers, payors, accountable care organizations, and health information exchanges. The company’s solutions enable the successful implementation and optimization of EHRs in its customers’ ambulatory physician settings and allow customers to analyze and report clinical data. In partnership with Arcadia, customers are empowered to make better clinical and financial decisions and lower the total cost of care.
“When evaluating strategic partners, it was important for us to find an investor with deep experience and a broad network in the healthcare industry as Arcadia enters the next phase of growth and establishes its position as a national player,” said Seth Henry, founder and president of Arcadia. “FFC shares our vision for the future of Arcadia. Our customers have validated the increasing need for a national firm that can optimize results by delivering clinical IT to the ambulatory market. With FFC’s relationships and expertise, we will continue to expand and enhance our presence.”
"Providers and payors must include physicians in system-wide IT platforms in order to succeed in today’s rapidly evolving healthcare industry. Arcadia’s solutions enable its customers to do just that,” said Carlos Ferrer, cofounder of FFC. “We are excited to work with Arcadia’s management team to build upon their accomplishments and help them to realize the company’s significant potential.”
FFC and the Arcadia Solutions management team believe that there is a substantial growth opportunity in the market as industry participants continue to implement and manage IT systems that can meet the growing demands of the healthcare industry. FFC will help to accelerate Arcadia’s growth and support the company’s evolution of services, intellectual property and geographic expansion.
"Successful execution of healthcare reform is built on a foundation of electronic health records, information exchange, and analytics. The next three years of healthcare IT stimulus programs will continue to accelerate the need for technology and services in support of this new paradigm,” said John D. Halamka, MD, MS, Chief Information Officer at Beth Israel Deaconess Medical Center, an Arcadia customer.
Carlos Ferrer, David Freeman, and Ted Lundberg of FFC will join Arcadia’s board of managers. In addition, Jim Crook, an HIT industry veteran who was CEO of IDX Systems when it was sold to GE Healthcare for $1.2 billion, will also join the board.
Source: Arcadia Solutions