Lucent Health Solutions Completes Acquisition of North America Administrators
Nashville, Tennessee (PRWEB) October 21, 2014 -- Lucent Health Solutions, Inc., in conjunction with NaviMed Capital, a Washington, DC-based healthcare growth capital firm, announced today its acquisition of North America Administrators, LP (NAA).
Lucent Health Solutions is a recently formed company launched by several experienced industry executives to provide employers in the fast-growing self-insured health care market with advanced data-driven services which help improve health outcomes and control costs.
Headquartered in Nashville, Tennessee, North America Administrators provides innovative health benefits solutions and superior customer service as one of the leading self-funded health plan administrators serving more than 150 small- and mid-sized employers. Since 1971 NAA has focused on managing medical trend through aggressive risk management techniques and has delivered effective cost control results for its clients.
“Both NAA and Lucent Health Solutions are focused on providing innovative solutions that raise the standard of the client experience” states Daniel Dugan, CEO/President of North America Administrators. “We are pleased to join Lucent Health, as our combined expertise will provide a wider and more cost-effective range of services and products, creating value for all our clients.”
Lucent CEO Brett Rodewald says “We are delighted to add North America Administrators and Danny Dugan to the Lucent Health Solutions platform, in creating an innovative, data-driven healthcare solution for our clients. Our partnership with NaviMed Capital, who have a superb track record as healthcare investors with a focus on policy-driven investing, is a key part of our strategy to deliver what customers truly want from their health plan provider.”
“Lucent’s vision and mission is to deliver the most affordable health plans to the nation’s employers by aggressively utilizing data to manage all of the elements that drive healthcare outcomes and costs,” 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 Health. Ryan Schwarz, NaviMed Capital Managing Director and Chairman of the Board of Directors of Lucent, says “Leveraging the rapid growth in employer self-funding of health benefits driven by recent regulatory changes in the health insurance market, we see Lucent and its initial acquisition of NAA as a strong starting point to build 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 50+ years of experience in the healthcare and transaction processing industries. For more information, please visit http://www.lucent-health.com or call Alex Arnet at 612-940-0141.
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.
Alex Arnet, Lucent Health Solutions, http://www.lucent-health.com, +1 (612) 940-0141, [email protected]
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