Carlyle, a global investment firm, has acquired health care technology solutions company CNSI from Alvarez & Marsal Capital Partners. The transaction is expected to close in December.
“We are delighted about this opportunity to partner with Carlyle as we continue to execute exquisitely for our clients, strengthen our market leading products and solutions, and drive innovation that improves health outcomes and lowers costs,” said CNSI CEO Todd Stottlemyer.
CNSI develops, implements, operates and maintains mission-critical systems for state and federal health programs. Stottlemyer will continue to lead the company, and he has previously partnered with Carlyle as a senior executive at BDM International.
“Carlyle is a first-class organization, and I know from my previous experience working with them that they truly partner with their portfolio companies to help them achieve their vision and strategic growth objectives,” Stottlemyer said.
Dayne Baird, managing director at Carlyle, said the firm is excited to partner with Stottlemyer and CNSI’s management team. He believes CNSI is well-positioned for continued success driven by its technical leadership and track record of innovation and execution.
“CNSI operates at the unique intersection of technology, healthcare and government services, and we see significant growth opportunities ahead as the company leverages its unique capabilities and continues to develop market-leading solutions,” Baird said.
Baird acted as the exclusive financial adviser to CNSI in connection with the transaction. Kirkland & Ellis LLP acted as legal adviser to CNSI. Latham & Watkins LLP acted as legal adviser to Carlyle.