McKesson Corporation has completed the sale of its Care Management business to private investment firm Comvest Partners along with co-investor Mosiac Health Solutions. The Care Management business will be rebranded as AxisPoint Health to provide complex and chronic case management services, nurse advisory services, and a care management software platform used by payers to manage utilization, disease, and case management services in-house. AxisPoint Health currently provides its services through nurses and other clinical professionals in 24 states.
The newly renamed company will continue to build on its key strengths — improving health outcomes, simplifying complex care, and directing members to the right care at the right time.
“This change in ownership represents a terrific opportunity for the Care Management business, which will be even better positioned to execute on its growth strategies. In addition, it will enable McKesson to focus on our core strengths,” said Jeff Felton, president, McKesson Connected Care & Analytics. “With deep expertise in this market, Comvest Partners is the right company to support the business and invest in future innovation. I am confident that Care Management customers and employees will benefit from their commitment to this business.”
McDermott Will & Emery served as legal advisor to Comvest Partners. MidCap Financial and Pacific Western Bank provided financing for the transaction. Financial details of the transaction were not disclosed.