Buyer: The Carlyle Group
Sector: Healthcare Management
Stephen H. Wise, Managing Director and Global Head of Healthcare for The Carlyle Group, said, “Specialty benefit managers are on the right side of the cost curve, offering a strong value proposition to payors, providers, and patients. Shelley, Mike, and the rest of the management team have built MedRisk into a world class organization within this fast-growing segment of healthcare services. The Company has distinguished itself by constantly seeking innovative ways to provide patients quicker access to higher quality, lower cost care from a national network of accredited providers. We look forward to working closely with the MedRisk team to continue to grow this industry-leading franchise.”
MedRisk Executive Chair and founder Shelley Boyce said, “Partnering with Carlyle, given their extensive network and significant financial resources, will fuel our next stage of growth. Carlyle has a deep understanding of the healthcare sector and a strong record of helping to build market-leading companies, while maintaining the highest levels of quality and patient support.”
“We’re excited to welcome Carlyle as a new partner that is well aligned with our mission and vision for the Company. This partnership enables MedRisk to strengthen our commitment to existing customers while pursuing greater scale in our operations,” said CEO Mike Ryan.
Established in 1994, MedRisk has a national network of physical medicine providers in 49 states and Washington, D.C. MedRisk currently works with 17 of the top 20 workers’ compensation insurance carriers and 8 of the top 10 workers’ compensation third party administrators. MedRisk delivers high quality care to injured workers while operating a model that is also favorable to both payors and healthcare providers. The alignment of these key stakeholders drives a sustainable competitive advantage and positions MedRisk for future growth in the physical medicine market.