Intermedix today announced it will spin off its Emergency Preparedness and Response Division following the completion of the sale of its healthcare RCM, practice management and analytics business lines to R1 RCM Inc. (NASDAQ:RCM).
This new company, to be named “Juvare,” pronounced Joo-VAHR-Ay, will be an independent, privately held company, backed by Thomas H. Lee Partners, L.P., a premier private equity firm that currently owns Intermedix.
Juvare will be composed of all of the assets and business of Intermedix’s Emergency Preparedness and Response Division. It will continue to deliver its full range of market-leading software solutions for business continuity, resiliency, incident management, preparedness and resource management. The portfolio includes solutions and products marketed as WebEOC, EMResource, eICS, EMTrack, CORES and FleetEyes.
Juvare will be led by Robert E. “Bob” Watson as its CEO and president. He currently serves as the president of the Emergency Preparedness and Response Division. Watson joined Intermedix in 2017 after an extensive nation-wide search was held to find the right leader for the Emergency Preparedness and Response business line. Under Watson’s leadership, the new company will help clients become more resilient by bringing them a clearer picture of their entire organization for routine activities, planned events, and adverse incidents.
“It’s an honor to lead this organization of talented professionals,” said Watson. “Over the last year, I have witnessed first-hand our team’s deep expertise in technology and a true passion for helping organizations prepare for unplanned incidents, respond to them, and recover from them. With the scale and scope of incidents changing every day, operating as a separate organization dedicated to delivering next-generation solutions is the logical next step in the evolution of these very important market-leading solutions and products. We are committed to working alongside our clients to advance the capabilities we will all need to survive new threats, while being prepared to rebound stronger than ever. The communities and organizations we serve are our partners in this journey to resiliency.”
“We are extremely excited to work with Bob Watson to help take this compelling software business to the next level,” said Laura Grattan, managing director at THL. “We believe Juvare is already positioned as the leader in emergency preparedness and response. By leveraging our software and technology experience, we look forward to helping Juvare gain market share and innovate new solutions for the benefit of all stakeholders, including the company’s current clients, its future clients, its team members and Intermedix shareholders, who will remain owners and have the opportunity to participate in the upside of this new business.”
Juvare’s team members will continue to help guide and support its clients and the tens of thousands of users of their software. Juvare’s solutions and clients operate across 25 countries, all 50 U.S. states and across several industries, including federal, state and local government, healthcare, energy, transportation, higher education, financial services and commercial industry.
Once the R1 transaction is completed, which is expected to occur in the second quarter of 2018, the spinoff of the Emergency Preparedness and Response Division will be effective. The new company will be headquartered in Atlanta. Details about the sale of Intermedix’s healthcare RCM, practice management and analytics business lines to R1 can be found by visiting http://www.intermedix.com/news.
About Intermedix Emergency Preparedness and Response Division, Soon to be Juvare
Juvare’s software solutions and clients operate across 25 countries, all 50 U.S. states and across several industries, including federal, state and local government, healthcare, energy, transportation, higher education, financial services and commercial industry. Juvare supports more than 500,000 emergency and response incidents around the world on an annual basis. Additionally, more than 500 governmental agencies and municipalities deploy our solutions for incident response in their daily operations.
About Thomas H. Lee Partners, L.P.
Thomas H. Lee Partners, L.P. is a premier private equity firm investing in middle market growth companies, headquartered in North America, exclusively in four industry sectors: business & financial services, consumer & retail, healthcare, and media, information services & technology. Using the firm’s deep domain expertise and the internal operating capabilities of its Strategic Resource Group, THL seeks to create deal sourcing advantages, and to accelerate growth and improve operations in its portfolio companies in partnership with management teams.
Since its founding in 1974, THL has raised over $22 billion of equity capital, acquired over 140 portfolio companies and completed over 360 add-on acquisitions which collectively represent a combined enterprise value at the time of acquisition of over $200 billion.
About Intermedix
Intermedix is a global leader pioneering innovations in data analytics and cloud-based technology to deliver best-in-class revenue cycle management, practice management and emergency management solutions. The company supports more than 500,000 emergency preparedness and response incidents around the world and enables more than 15,000 health care providers to focus on delivering excellence in patient care.
