News

May 09, 2019

Audax Private Equity Announces Recapitalization of The Chartis Group

Audax Private Equity (“Audax”) today announced that it has recapitalized, in partnership with management, The Chartis Group, LLC (“Chartis” or the “Company”). Headquartered in Chicago, IL, and previously a portfolio company of RLH Equity Partners, Chartis is a leading provider of advisory consulting and software analytics to hospitals, health systems, and other healthcare organizations around the world. Founded in 2001, Chartis’ mission is to materially improve the delivery of healthcare by providing thought leadership, advisory, innovation, and analytics services to healthcare organizations. The Chartis management team will continue to lead the Company and, together with the Chartis consultants and employees, maintain a significant ownership position.

Ken Graboys, Chief Executive Officer of Chartis, said, “We are excited to partner with Audax and for the opportunity it provides us to continue to achieve meaningful growth and expand our impact on global healthcare. Audax brings the resources and capital to support the growth of our next generation of practice offerings, and to make strategic acquisitions.”

Young Lee, Managing Director at Audax, said, “Chartis has earned an outstanding reputation in the healthcare consulting industry demonstrated by the transformational results delivered to clients, extraordinarily talented people, and strong firm culture. We are excited to join the team as they continue to build on this success.”

Tim Mack, Managing Director at Audax, said, “We look forward to partnering with the Chartis team as they continue to provide innovation and improvements for healthcare systems, and pursue strategic add-on acquisitions and partnerships.”

Terms of the transaction were not disclosed. Lincoln International LLC acted as exclusive financial advisor and Winston & Strawn LLP served as legal counsel to Chartis. Ropes & Gray LLP served as counsel to Audax.

About

ABOUT THE CHARTIS GROUP

The Chartis Group (“Chartis”) provides comprehensive advisory services and analytics to the healthcare industry. With expertise in strategic planning, performance excellence, informatics and technology, and health analytics, Chartis helps leading academic medical centers, integrated delivery networks, children’s hospitals and healthcare service organizations achieve transformative results. Chartis has offices in Atlanta, Boston, Chicago, New York, Minneapolis, Portland and San Francisco. For more information, visit http://www.chartis.com.

Contacts
Audax Private Equity
Young Lee
Managing Director
(617) 859-1532

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