2009-03-05 15:47:06 -
Vitalize Consulting Solutions Inc., a portfolio company of SV Life Sciences and Ferrer Freeman & Company, LLC, has acquired r3 Health Partners, LLC. Transaction terms were not disclosed.
McGladrey Capital Markets LLC led the negotiations and acted as exclusive financial advisor to r3.
"r3's stakeholders sought a suitor who not only shared its expertise in hospital information system applications, but also possessed the experience necessary to take r3's impressive growth story to the next level," said Sean Walker, director, McGladrey Capital Markets.
"We are thrilled with the combination of Vitalize's and r3's culture, client service strength and opportunities. The new firm's national coverage, depth of skills and quality client relationships are without comparison in
the healthcare IT services market," said John Dal Poggetto, CEO of r3.
Bruce Cerullo, CEO and Chairman of Vitalize, was equally as pleased with the acquisition. "The alignment of these two companies, their cultures and collective resources made this union very compelling. We truly believe that the combined forces of VCS and r3 will result in great benefits for our employees and clients across the country," Cerullo stated.
About r3 Health Partners, LLC
r3 Health Partners provides consulting services to support information technology initiatives in healthcare organizations throughout the United States. Its client services include IT project management, upgrade and conversion project management, new system implementation, legacy application support and staff augmentation for peak demand and for extended absences. The Company, which was founded in 2005, is headquartered in Santa Ana, California and currently employs over 70 consultants.
About Vitalize Consulting Solutions, Inc.
Vitalize Consulting Solutions provides clinical, business, and information technology solutions for healthcare enterprises in the United States and Canada. Its programs and services include system implementation, integration and optimization, project management, custom reporting, education and knowledge transfer. Vitalize was founded in 2002, employs over 200 consultants and is headquartered in Reading, Massachusetts, with their operations office in Kennett Square, Pennsylvania.
About SV Life Sciences
SV Life Sciences is a U.K. based venture capital adviser and manager that makes select investments in entrepreneurs and management teams. The firm invests in businesses at all stages of development and across the human life sciences sector ranging from biotechnology & pharmaceuticals to medical devices & instruments, to healthcare information technology. SV Life Sciences currently advises or manages five funds with capital commitments of approximately $1.6 billion. The firm has offices in London, Boston, and San Francisco.
About Ferrer Freeman & Company, LLC
Ferrer Freeman & Company (FFC) is a Greenwich, Connecticut, based private equity firm that invests exclusively in healthcare and healthcare-related companies. Unlike generalist private equity investors for whom healthcare is one of many sectors of interest, FFC is completely dedicated to the industry. The firm has over $900 million under management and has decades of experience investing in, advising, acquiring and selling healthcare companies.
About McGladrey Capital Markets
McGladrey Capital Markets LLC (www.mcgladreycm.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm's services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions and restructurings. McGladrey Capital Markets, which offers in-depth expertise in 13 distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
McGladrey Capital Markets is affiliated with RSM McGladrey Inc., a professional services firm providing accounting, tax and business consulting. Both firms are indirect subsidiaries of H&R Block Inc. (NYSE: HRB), the world's preeminent tax services provider.
McGladrey Capital Markets is also a member of RSM International, a worldwide network of professional services firms. McGladrey Capital Markets' international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, Dallas, New York and London. The firm is a member of FINRA and SIPC.
McGladrey Capital Markets LLC
Kelly Osborne, Vice President
714-327-8880
kosborne@mcgladreycm.com 
