HAS BEEN ACQUIRED BY
Hexagon Capital Alliance LLC is pleased to announce that it has served as exclusive investment banking advisor to Imagenet, LLC, a leading healthcare technology company, on its recapitalization with BV Investment Partners (BV), a long-standing middle-market private equity firm headquartered in Boston, MA.
Imagenet is a leading payor services company, offering back-office support technology and tech-enabled outsourced services to healthcare plans nationwide. The company provides digital transformation, claims adjudication, and member and provider engagement services to its health plan customers, acting as a mission-critical partner to these plans in enhancing engagement and satisfaction with plans’ members and providers. The company processes millions of claims and related structured and unstructured data elements annually. The company has also developed an innovative workflow technology platform, JetStreamTM, to help with traceability, governance, and automation of claims operations for its clients. Headquartered in Tampa, Florida, Imagenet operates 10 regional offices throughout the U.S. and has a wholly-owned global delivery center in the Philippines.
Steve Strawn, Founder and Chief Executive Officer of Imagenet, commented, “it was a pleasure working with Paul Kacik and the entire Hexagon Capital Alliance team on this transaction. Hexagon demonstrated a strong understanding of the healthcare landscape and the team executed a highly efficient transaction process bringing all the right parties to the table. Once Hexagon introduced us to BV Investment Partners, we were quick to recognize them as the right partner for Imagenet, given BV’s deep experience scaling healthcare tech-enabled services businesses like ours and, perhaps most notably, their thoughtful approach to partnership and aligning with us on strategic priorities moving forward.”
Paul Kacik, Managing Director and Head of Healthcare Investment Banking at Hexagon commented, “Imagenet has built an incredible reputation as a leading service provider to healthcare plans nationwide. I was honored to serve as the company’s investment banking advisor on this important transaction. I look forward to watching the company continue to grow alongside BV as its new equity partner.”
For additional information, please contact the deal team:
Paul Kacik, Managing Director – [email protected]
Brad Erhart, Director – [email protected]
Alex Berger, Analyst – [email protected]
“We were impressed
with the Hexagon team’s strategic advice and skills in negotiating and managing the diligence process. With their guidance, we were able to achieve a strong valuation and successful outcome for our team and shareholders.”
Flavor Infusion International, S.A.