EDG Partners Invests in Peak Health Solutions, Readies Peak for Vigorous Growth
EDG Partners Invests in Peak Health Solutions
Investment Readies Peak for Vigorous Growth
Atlanta, Ga. (June 05, 2012) — EDG Partners (EDG), a provider of capital, expertise, and relationships to help small and middle market healthcare companies achieve their potential, announced a majority recapitalization investment in Peak Health Solutions, Inc. to support growth and provide liquidity to angel investors. Peak Health Solutions offers advanced end-to-end health information management services to health plans and healthcare facilities.
Consistent with EDG Partner’s approach focused on supporting experienced entrepreneurs and executives in leadership in their portfolio companies, EDG sees great opportunities in Peak Health Solutions. Mike Gaffney, EDG Partners Managing Director, says “We see Peak as a strong starting point to build a company in a segment that needs a broader set of solutions. Peak is an important business that can grow into an industry leader by providing the people and capabilities to deliver a superior set of solutions in capturing and managing health data to health plan and healthcare facility customers.”
Peak Health Solutions cofounder Gabe Stein says the EDG Partners capital infusion means Peak will be able to expand quicker. “This investment brings more operational and developmental resources to grow all of our product lines and services. We were especially impressed with EDG’s focus on working with owners to realize the company’s vision.”
Justin Schmidt, cofounder with Stein, says the EDG investment will allow Peak to capitalize on developing opportunities. “The EDG partnership will allow us to increase the scale of coding capability to meet the growing needs of providers, with significant growth expected in the demand for our ICD-10 consulting.” Retrospective and prospective audits for health plans will also be a high growth area for Peak.
Steve Roberts will assume the role of President and Chief Executive Officer at Peak Health Solutions, with Stein concentrating on health plan business as Executive Vice President of Health Plans while maintaining oversight of the provider relationships he’s developed. Schmidt will concentrate on the provider side as Executive Vice President of Providers. Roberts says he is excited about the opportunity. “My role is to bring information, people and technology together. We will create a platform with Peak Health Solutions as a base for health plans, providers, and hospitals.” Roberts says Peak will expand its capabilities to better meet the needs of leading health plans, including Medicare Advantage plans, especially as data collection relates to STARS and HEDIS ratings.
Roberts has worked in healthcare information technology for over 20 years. Most recently he was the president of practice technologies at Henry Schein, the largest provider of health care products and services to office-based practitioners. Prior to that, Roberts served as chief operating officer of HealthPort, Inc. the nations largest provider of release of information services, audit management technology, and health information technology. In addition, Roberts worked with the Americas services of General Electric Healthcare, Allscripts Healthcare Solutions and the McKesson Corporation. Roberts holds a Bachelor of Arts degree in Business Administration from Augustana College and a Master of Business Administration degree from The Kellogg School at Northwestern University.
Plans are in place to add additional industry subject matter experts and technology to allow greater incursions into the changing healthcare landscape of compliance and data management. Terms of the agreement between EDG Partners and Peak Health Solutions were not disclosed.
Photos of Peak’s executive leadership as well as logos are available at http://www.flickr.com/photos/thevimarcgroup/sets/72157630050565740/
About EDG Partners
EDG Partners is a private equity firm that provides capital, expertise, and relationships to enable small and middle market healthcare companies to achieve their potential. With considerable investment and operating experience, we partner with management teams to navigate the critical inflection points that accompany growth. EDG Partners delivers exceptional value by helping to build exceptional companies. For more information, please visit www.edgpartners.com.