CVC Capital Companions Fund VII to put money into MedRisk

CVC Capital Companions Fund VII to put money into MedRisk

CVC joins up with present investor Carlyle to kind a brand new partnership with MedRisk and to speed up development and proceed delivering best-in-class care to injured staff

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“MedRisk has a wonderful fame and a confirmed skill to enhance entry to high-quality care, which has enabled the Firm to develop into the {industry} chief in managed bodily remedy for injured staff,” stated Fazle Husain, Accomplice at CVC Capital Companions. “We look ahead to working intently with the gifted crew at MedRisk and our buddies at Carlyle to proceed the compelling development trajectory of the Firm whereas making certain that sufferers proceed to obtain the best high quality service.”

MedRisk is nicely positioned for the following chapter of its development because of the unrivalled degree of care it delivers to injured staff, and talent to ship best-in-class service to all stakeholders throughout the healthcare ecosystem, together with sufferers, employers, physicians, case managers, insurance coverage carriers, third celebration directors and community suppliers.

MedRisk Government Chairman Mike Ryan stated, “Partnering with CVC, given their in depth community and important monetary sources, will gasoline our subsequent stage of development. They’ve a deep understanding of the healthcare sector and a robust file of serving to to construct market-leading corporations, whereas sustaining the best ranges of high quality.”

“We’re excited to welcome CVC as a brand new companion that’s nicely aligned with our mission and imaginative and prescient for the Firm. This partnership, together with the continued help of Carlyle, allows MedRisk to strengthen our dedication to present clients whereas pursuing higher scale in our operations,” added CEO Ken Martino.

“We’re extremely pleased with MedRisk’s development journey over the previous three years of our partnership and its distinctive administration crew in constructing an progressive firm with a customer-centric and service-oriented focus,” added William McMullan, Accomplice at Carlyle. “With important enterprise momentum and powerful {industry} tailwinds within the bodily medication market, we’ve got nice confidence within the firm’s continued success. We look ahead to working intently with CVC and the administration crew to help this industry-leading franchise in its subsequent chapter of development.”

The transaction is predicted to shut within the second quarter of 2021, topic to customary closing situations and receipt of required regulatory approvals. Centerview Companions and Truist Securities acted as monetary advisors to MedRisk and Carlyle and Debevoise & Plimpton LLP as their authorized advisor. White & Case LLP acted as authorized advisor for CVC Capital Companions. Fairness capital for the funding will come from CVC Fund VII and Carlyle Companions VI.

Notes to editors

About CVC Capital Companions
CVC is a number one non-public fairness and funding advisory agency. Based in 1981, CVC in the present day has a community of 23 places of work and over 550 staff all through Europe, Asia and the US. So far, CVC has secured commitments of over US$160 billion from among the world’s main institutional traders throughout its non-public fairness and credit score methods. In whole, CVC at present manages roughly US$109 billion of belongings. As we speak, funds managed or suggested by CVC are invested in over 85 corporations worldwide, using greater than 400,000 folks in quite a few nations. Collectively, these corporations have mixed annual gross sales of roughly US$93 billion. For additional details about CVC please go to: www.cvc.com.

About MedRisk
Based mostly in King of Prussia, Pennsylvania, MedRisk is the most important managed care group devoted to the bodily rehabilitation of injured staff. MedRisk counts over 191,200 suppliers in its community and serves nearly 500,000 injured staff yearly. It holds direct contracts with greater than 90 p.c of the nation’s prime staff’ compensation insurers and third-party directors. MedRisk, which has efficiently accomplished a SSAE 18 SOC Sort 1 and a pair of examination, ensures prime quality care and delivers excellent customer support. For extra info, go to www.medrisknet.com.

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a world funding agency with deep {industry} experience that deploys non-public capital throughout three enterprise segments: International Personal Fairness, International Credit score and Funding Options. With $246 billion of belongings underneath administration as of December 31, 2020, Carlyle’s function is to speculate correctly and create worth on behalf of its traders, portfolio corporations and the communities by which we stay and make investments. The Carlyle Group employs 1,825 folks in 29 places of work throughout 5 continents. Additional info is offered at www.carlyle.com. Comply with The Carlyle Group on Twitter @OneCarlyle.

SOURCE CVC Capital Companions

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