NEW YORK & ARLINGTON HEIGHTS, Ill.–(BUSINESS WIRE)–CI Basic Partners, a North American clandestine advance firm, appear today that it has acquired Interactive Bloom Solutions, Inc. (“IHS”), a arch provider of bloom and wellness solutions. The agreement of the transaction were not disclosed.
IHS develops and offers wellness programs to employer groups focused on allowance alone participants booty accountability for their health, which over time, lowers healthcare costs for its customers. The IHS offering, which includes onsite biometric screening, telephonic bloom apprenticeship and bloom acquiescence affairs management, has assorted benefits, including acceptable business performance, abbreviation the amount of medical allowances and accretion workforce productivity. IHS works with added than 1,000 fully-insured and self-insured companies, with over one actor absolute employees. The aggregation was founded in 1991 by Jim Banks, who will abide a affiliate of IHS’s Board and be alive in acknowledging the company’s growth. Joe O’Brien will abide as the company’s Chief Executive Officer.
“As companies abide to focus on healthcare costs, citizenry bloom administering programs such as those offered by IHS are acceptable added ytical for both administering and employees,” said Steven M. Lefkowitz, President of CI Capital. “We are captivated to accomplice with Joe O’Brien and his accomplished administering aggregation and attending advanced to alive with them to abide to accompany advance opportunities,” said Mr. Lefkowitz.
Joe O’Brien said, “CI Basic has a continued clue almanac allowance companies like IHS advance their growth. We are aflame to anatomy this affiliation to actualize and bear alike added amount to our customers. We are assured that this transaction will accredit IHS to accompany the aing appearance of our advance strategy. ”
“The aggregation is able-bodied positioned to booty advantage of the accomplished abiding advance affairs in the arising wellness sector,” added Tim Hall, Managing Director at CI Capital. “IHS will serve as a belvedere in the industry as we seek to advance in or access commutual businesses to aggrandize the company’s artefact across and chump base.”
Frederick J. Iseman, Chairman of CI Capital, added, “We are acutely admiring to accept IHS become the fourth belvedere portfolio aggregation in our new fund. This transaction signals our acknowledgment to a area area we accept enjoyed acceptable affluence in the past, healthcare services. We are consistently accessible to new businesses, and advance in them regularly, but we additionally accept in architecture on above-mentioned successes. We accept affluence of basic to do both, and are actively gluttonous new opportunities.”
MidCap Financial, Solar Basic and PennantPark Advance Corporation provided costs for the transaction.
TripleTree LLC acted as banking adviser to IHS. Pepper Hamilton LLP provided acknowledged admonition to IHS and Paul, Weiss, Rifkind, Wharton & Garrison LLP provided acknowledged admonition to CI Capital.
About CI Basic Partners
CI Basic Partners is a North American clandestine advance close focused on architecture and accretion arch average bazaar businesses. The close targets industries that are [ripe] for alliance and seeks to essentially calibration businesses through amoebic advance and acquisitions. Since its founding in 1993, the close and its portfolio companies accept fabricated over 95 acquisitions apery over $5 billion in action value. CI Capital’s absolute portfolio consists of companies which collectively accomplish anniversary acquirement of about $4.0 billion, EBITDA of $350 million, and accept added than 14,000 employees. To apprentice added about CI Basic Partners, amuse appointment www.cicapllc.com.
About Interactive Bloom Solutions, Inc.
IHS provides clinically based and HIPAA adjustable citizenry bloom administering programs to companies nationwide. The year-round IHS affairs includes annual, on-site bloom evaluations; abundant bloom goals; in-person courses and online advice about specific conditions; as able-bodied as abounding affairs administration, almanac befitting and reporting. For added information, acquaintance IHS at 800-840-6100, or appointment www.healthiestcompanies.com.
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