"With the addition of CA in California to our acquisition of North America Administrators [NAA] in Tennessee, Lucent clients span from the Pacific Northwest to the Midwest to the Southeast.” Brett Rodewald, CEO, Lucent Health Solutions
Sacramento, California (PRWEB) January 20, 2015
Lucent Health Solutions, Inc., in conjunction with NaviMed Capital, a Washington, DC-based healthcare growth capital firm, announced today its acquisition of Capitol Administrators Inc. (Capitol).
Lucent Health Solutions provides employers in the fast-growing self-insured health care market with advanced data-driven services which help improve health outcomes and control costs. Lucent was launched in 2014 by several experienced industry executives, and previously acquired North America Administrators of Nashville, TN in October 2014.
Headquartered in Rancho Cordova, California, Capitol Administrators provides innovative health benefit solutions for the employer, government, Native American, and captive insurer self-funded health plan markets. Founded in 1999, Capitol has built a strong reputation for developing creative solutions for clients. The company manages medical trend through aggressive risk mitigation techniques and control costs.
“Both Capitol and Lucent Health are focused on providing solutions that raise the standard of the client experience and lower their healthcare costs” states David Reynolds, CEO/President of Capitol Administrators. “We are pleased to join Lucent and I very much look forward to the future with Lucent Health Solutions as a senior leader and as an investor.”
Lucent CEO Brett Rodewald says “We are delighted to add Capitol and Dave Reynolds to the Lucent Health Solutions family. We look forward to continuing the development of innovative, data-driven healthcare solutions for our clients. Lucent Health Solutions, in concert with our partners, NaviMed Capital, will continue to make investments as part of our long-term growth strategy. With the addition of CA in California to our acquisition of North America Administrators [NAA] in Tennessee, Lucent clients span from the Pacific Northwest to the Midwest to the Southeast.”
“Capitol provides Lucent Health Solutions the ability to enter into new markets such as Captives, Native American, and Government, which are critical to our growth. We look forward to Dave Reynolds joining the team and helping us build a leading national healthcare solutions company,” says Alex Arnet, Chief Commercial Officer of Lucent Health.
Consistent with NaviMed’s focus on supporting experienced management teams building highly differentiated businesses in the fastest growing segments of the healthcare industry, NaviMed sees strong growth opportunities in Lucent. Ryan Schwarz, NaviMed Capital Managing Director and Chairman of the Board of Lucent, says “Employer self-funding of health benefits is growing rapidly due to recent regulatory changes in the health insurance market. With two acquisitions completed, Lucent is well on its way to building a national platform in the sector offering a unique set of data-driven solutions to its clients.”
Terms of the transaction were not disclosed.
About Lucent Health Solutions
Lucent Health Solutions is a technology-driven health care risk management company, maximizing the value of data to deliver the most affordable health plans for employers. Based in Nashville, TN, the management team of Lucent Health Solutions brings over 100+ years of experience in the healthcare and transaction processing industries. Lucent currently manages health benefits for over 120,000 members. For more information please visit http://www.lucent-health.com or call Alex Arnet at 612-940-0141 / email alex(dot)arnet(at)lucent-health(dot)com.
About NaviMed Capital
NaviMed Capital is a Washington, DC-based private investment firm focused exclusively on the healthcare industry. NaviMed partners with talented management teams and entrepreneurs to create value by providing strategic counsel and operational support, while leveraging its deep healthcare expertise, broad firm network, and combined 40+ year heritage of successful investing. NaviMed invests in growth stage companies in healthcare IT, healthcare services, and specialty medical products. NaviMed’s principals have extensive experience investing in businesses in the payors and payments sector of the healthcare industry, including ConnectiCare Holdings, Heritage Health Systems and Primary Health. For more information please visit http://www.NaviMed.com or call Ryan Schwarz at 202-492-5470.