Capstone Guides Human Arc’s Acquisition of L&S Associates

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Human Arc becomes nation's second largest privately held eligibility services firm

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Human Arc acquired a company of tremendous strategic value

Capstone Strategic, Inc., announced today that Human Arc has acquired L&S Associates. Capstone guided Human Arc through the acquisition process, which will make Human Arc the second largest privately held eligibility services firm in the nation, doubling its capacity to provide Medicaid and other program screening and enrollment services.

“After employing Capstone’s expert guidance and sound evaluation process, we are now, with this acquisition, well positioned to reach our goal to positively impact the lives of more than a million uninsured, under-insured, disabled and other people in need each year,” said Human Arc founder and Chief Executive Officer Michael Baird.

David Braun, Capstone CEO, added, “Human Arc acquired a company of tremendous strategic value that makes the combined company a formidable force in the Health Care revenue cycle management space. This is a major step forward for Human Arc. They embraced Capstone’s demand-driven process and have found an excellent partner for growth in both the near- and long-term.”

Human Arc, established in 1984, will maintain its corporate headquarters in Cleveland, Ohio, as well as a regional office in Kansas City, Missouri. L&S Associates, established in 1990, will be rebranded to L&S Associates, a Human Arc Company and will continue to operate out of its Lansing, Michigan facilities.

About Capstone Strategic, Inc.

Capstone Strategic, Inc., headquartered outside Washington, DC, was founded in 1995 to meet the unique demands of mid-market companies and their corporate growth initiatives. Capstone delivers consulting and advisory services with an emphasis on external growth, specifically mergers and acquisitions. Capstone utilizes a proprietary process to provide tailored services to clients in a broad range of domestic and international industries. For more information about Capstone and its growth strategy and advisory capabilities, please visit For timely commentary and insights into the M&A market, please visit the M&A Daily blog at Capstone can also be reached at 703.854.1910.

About Human Arc

Human Arc serves hospitals and healthcare systems with self-pay reimbursement-related services. Human Arc also provides innovative revenue enhancement solutions to managed care health insurers. Human Arc helps clients optimize their fiscal health in the marketplace while improving access to healthcare and quality-of-life benefits. For more information on Human Arc, please visit
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