BOSTON, June 8, 2022 /PRNewswire/ — SV Health Investors (“SV”) is pleased to announce the acquisition of Nordic Consulting Partners (“Nordic”) by Accrete Health Partners (“Accrete”), a strategic holding company of Bon Secours Mercy Health.
SV led the majority recapitalization of Nordic in October 2012, along with Health Enterprise Partners (“HEP”), HLM Venture Partners (“HLM”), and Kaiser Permanente Ventures (“KP Ventures”). In 2016, Silversmith Capital Partners (“Silversmith”) led a minority recapitalization in which SV, HEP, HLM and KP Ventures remained Nordic shareholders.
Headquartered in Madison, Wisconsin, Nordic is a global health and technology consulting company that partners with health leaders around the world to help them harness the power of technology. Nordic’s team of more than 1,900 professionals supports over 600 clients worldwide with innovative solutions, deep clinical expertise, and extensive technical knowledge.
SV and its co-investors understood from the outset of their investment in Nordic that excellence in client service begins with the recruitment of smart, passionate professionals, empowered by a supportive culture. Nordic’s many third-party awards for client service and workplace culture are testament to the success of Nordic’s leadership team in realizing that vision.
SV Managing Partner Tom Flynn remarked: “the success of Nordic over the past decade reflects its unwavering commitment to both employees and clients. We would like to thank CEO Jim Constanzo, CFO Glenn Cole and the rest of Nordic’s outstanding leadership team for delivering on this vision.”
SV Operating Partner and former Nordic Chairman Bruce Cerullo added “sustained excellence begins with committed and supportive shareholders. With SV, HEP, HLM, KP Ventures and Silversmith, Nordic enjoyed consistent shareholder support.”
SV Health Investors is a growth equity and venture capital firm dedicated to investments in the healthcare and life sciences sector. Founded in 1993 with offices in Boston and London, SV has approximately $2.7B in assets under management across multiple investment strategies. SV’s dedicated healthcare growth fund – SV7 Growth Fund – seeks to partner with experienced management teams to accelerate the success of innovative healthcare companies across tech-enabled healthcare services, medical products, and digital health. SV combines decades of healthcare transaction and operating experience to drive long-term value creation and realize the triple aim of healthcare – higher quality care, accessible to more patients, at a lower cost. For more information, please visit www.svhealthinvestors.com.
Health Enterprise Partners (https://hepfund.com/) invests in privately held, lower middle market healthcare services and information technology companies. Central to HEP’s strategy is its unique and extensive hospital system and health plan network, 36 members of which are investors in HEP’s funds. HEP seeks to invest in companies that improve the quality of the patient experience, expand access, and reduce the cost of healthcare.
HLM Venture Partners (https://hlmvp.com) is a leading venture capital firm and one of the nation’s oldest and most experienced in the tech-enabled healthcare services, healthcare information technology, and medical device and diagnostics sectors. Seeking dynamic, emerging-growth companies, HLM invests in the industry’s most innovative companies, including more than 100 companies in the last 20 years.
Kaiser Permanente Ventures, founded in 1998 with over 70 investments to date, is one of the most successful strategic corporate venture investment programs in the healthcare industry. The KP Ventures team builds upon the assets and capabilities of Kaiser Permanente’s $93B integrated delivery system to support innovative companies. KP Ventures plays an important role in transforming American Healthcare by improving health outcomes, enhancing the consumer experience, and driving affordability, while delivering a highly competitive return on our investments. For more information, please see www.kpventures.com.
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, DistroKid, impact.com, Iodine Software, LifeStance Health, and Webflow. The partners have served on the boards of numerous successful growth companies including ABILITY Network, Dealer.com, Liberty Dialysis, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith, please visit www.silversmith.com or follow the firm on LinkedIn.
SV Health Investors
SOURCE SV Health