September 12, 2022
Tampa, Florida – September 12, 2022
HealthEdge Investment Partners (“HealthEdge”), a Florida-based private equity fund focused on lower middle market healthcare companies, announced today that it has exited its entire interest in CSS Health, a Fund II portfolio company, to Clarest Health, a leading provider of professional solutions for personalized medication management. Bailey & Company acted as the exclusive financial advisor to CSS Health for this transaction.
With headquarters in Tampa, Florida and Buffalo, New York, CSS Health provides a comprehensive Medication Therapy Management (MTM) adherence and compliance drug packaging solution for health plans, pharmacies, facilities, and patients.
According to the World Health Organization, only about 50% of patients who suffer from chronic conditions take their medications as prescribed. As the population ages and the prevalence of chronic conditions increases, the healthcare industry is facing growing challenges from adverse drug reactions and high rates of medication non-adherence, which can exacerbate a patient’s health condition, increase the risk of disease progression and lead to prolonged hospitalization. With leading tech-enabled solutions for payers and pharmacies, CSS Health provides a comprehensive and effective way to improve care and reduce costs for high acuity, complex, and polypharmacy lives.
HealthEdge Managing Partner Phil Dingle said of HealthEdge’s investment in CSS Health, “Medication non-adherence drives billions in avoidable costs and poor patient outcomes. It was our thesis to bring together Medicine-on-Time, an innovator in compliance packaging solutions and prescription management software for more than 20 years, and Clinical Support Services, a leader in MTM clinical software and services, in an end-to-end medication management solution to combat this issue through a multi-pronged approach. We are excited to see how Clarest Health continues to innovate the future of personalized medication management as it expands its own comprehensive suite of solutions with CSS Health’s capabilities.”
Jim Clair, CEO of CSS Health, added, “It was a pleasure working with HealthEdge Investment Partners to advance a technology-enabled, end-to-end medication management solution in the marketplace. Their collaborative approach supported innovation in our software products and fostered a partnership model among CSS Health employees and our payer and pharmacy clients."
About HealthEdge Investment Partners
HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience, and network of relationships of its partners. HealthEdge’s partners have more than 100 years of combined operating experience in healthcare as operators and investors.