CONNEXTIONS, INC. ACQUIRES bCONNECTED SOFTWARE, INC.
Acquisition Deepens Connextions’
Technology Credentials in Healthcare Industry
ORLANDO, FL – June 20, 2007 – Connextions, Inc. today announced that it has acquired bConnected Software, Inc., a leading provider of technology solutions for the healthcare industry. bConnected will continue to operate from its current location near Boulder, Colorado as a wholly-owned subsidiary of Connextions. Financial terms of the transaction were not disclosed.
Connextions Inc. is a technology-based business process outsourcing firm with broad expertise in the healthcare industry; assisting well-known health insurance plans and healthcare providers – ranging from UnitedHealth Group to Cedars-Sinai Medical Center – in their efforts to attract, transact with, and retain individual consumers. Connextions is a privately held company, and part of the New Mountain Partners II, L.P. portfolio, a private equity fund sponsored and managed by Manhattan-based New Mountain Capital LLC.
bConnected Software creates standardized and custom products and solutions for healthcare organizations; delivering accurate, real-time information and software tools to improve the quality and consistency of care, revenue cycle processes, as well as financial and operational efficiency. bConnected enables managers of large healthcare organizations to enhance their customer acquisition and sales capability, and to improve performance by delivering information that helps them understand and manage current conditions.
In announcing the acquisition, Connextions’ Chairman and CEO Jack LeFort said, “bConnected has earned a place at the forefront of healthcare technology, and we intend to leverage that expertise to deliver new and unmatched levels of service for our healthcare clients, to help them meet the demands of a market that is increasingly consumer-driven.”
Mr. LeFort – who was recognized as a healthcare visionary in 2006 by Managed Healthcare Executive magazine – noted that, “bConnected’s current portfolio of products dovetails with the needs of health insurance plans and healthcare providers alike, as C-level decision-makers at those organizations seek ways to generate incremental revenue and improve operating efficiencies.”
Barry Neu, Vice President of bConnected Software said, “We are honored to be part of the Connextion family, and to play an important technology-based role in its integrated approach to customer acquisition and retention within the healthcare industry. Together, we intend to further strengthen our penetration of the healthcare market by continuing to develop solutions and tools that provide our clients with competitive advantage.”
About Connextions Inc.:
Founded in 1992, with facilities Orlando, FL and Concord, NC, Connextions’ nearly 2,000 professionals provide technology-based business solutions for a long list of America’s best-known corporate and healthcare organizations, including Federal Express, Sprint, Mercedes-Benz, Olympus, SanDisk, UnitedHealth Group, Caremark, Assurant Health and Novartis. See www.connextions.com.
About bConnected Software Inc.:
Founded in 2000, Colorado-based bConnected Software is a technology development boutique that caters to the needs of large healthcare organizations, serving the needs of plans and providers, including HealthSouth, Rotech Healthcare and Poudre Valley Health Systems. See www.bconnected.com.
About New Mountain Capital:
New Mountain Capital, LLC is a New York-based private equity firm investing for long-term capital appreciation through direct investment in growth equity transactions, leveraged acquisitions and management buyouts. New Mountain seeks out the highest quality growth leaders in carefully selected industry sectors, and then works intensively with management to build the value of those companies. See www.newmountaincapital.com.
For additional information:
Gordon G. Andrew
Senior Vice President
Connextions, Inc.
(407) 563-4440
gandrew@connextions.com
