Harris Williams & Co. Advises OmniClaim on its Sale to Equian

March 2, 2018

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces the sale of OmniClaim, a leading provider of healthcare cost containment and payment integrity solutions, to Equian, a portfolio company of New Mountain Capital. Harris Williams & Co. served as the exclusive advisor to OmniClaim. The transaction was led by Jeff Bistrong, Sam Hendler, Dan Linsalata and Mike Quealy of the firm’s Technology, Media & Telecom (TMT) Group and Cheairs Porter of the firm’s Healthcare & Life Sciences (HCLS) Group.

“OmniClaim became a leader in healthcare cost containment solutions by combining sophisticated analytics and software with world-class services in pursuit of a simple, but increasingly challenging, goal of making healthcare more affordable,” said Jeff Bistrong, a managing director at Harris Williams & Co. “We are proud to have partnered with a truly exceptional founding team to help them realize the benefits of their hard work and the successful execution of their vision.”

“The sale of OmniClaim to Equian represents another landmark transaction in the payor software and services sector for our firm,” added Sam Hendler, a managing director at Harris Williams & Co. “We look forward to the ongoing success of OmniClaim as part of the Equian umbrella, as the combined organization continues to play an integral role in combatting the rising costs of healthcare.”

Kirkland & Ellis LLP (Kirkland) served as legal counsel for OmniClaim in the transaction. The Kirkland deal team was led by Boston-based partners Christian Atwood and Ian Bushner and associates Payson Lyman and Eric Sternlieb.

OmniClaim is an industry leader in payment integrity and overpayment recovery, delivering significant financial results while minimizing provider abrasion. The company accomplishes this by leveraging its proprietary predictive analytics platform to identify claims with the greatest recovery potential. OmniClaim has refined—and continuously improves—its claims selection algorithms by utilizing over a decade of medical claims data that spans more than 70 million lives.

Equian is a leading end-to-end payment integrity organization. The company manages over $300 billion in claims data annually on its innovative platform designed to assist clients by avoiding, identifying, pricing, analyzing clinical codes and ultimately recovering inaccurate transactions in the complex environments of healthcare, Workers’ Compensation and property and casualty markets. Equian acts on data to pay the right party, the right amount, at the right time delivering over $2 billion annually in actionable savings across the payment spectrum.

New Mountain Capital is a New York-based alternative investment firm that emphasizes business building and growth, rather than debt, as it pursues long term capital appreciation. The firm currently manages private equity, public equity and credit funds with over $20 billion in aggregate capital commitments. New Mountain Capital seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies.

Harris Williams & Co. (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s TMT Group advises leading private and public companies, entrepreneurs, private equity firms and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS and Internet & Digital Media segments, with particular emphasis on specific verticals including education, energy technology, fintech, public sector and supply chain/logistics and has a dedicated healthcare technology (HCIT) practice. Across verticals it also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams & Co. website.

Harris Williams & Co.’s HCLS Group has experience across a broad range of sectors, including medical devices, products and distribution; multi-site and retail healthcare providers (including dental care providers); alternate site care; healthcare IT; managed care and cost containment services; outsourced clinical services; and outsourced pharma services.  For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.