PORTFOLIO

NaviMed’s senior investment team has a track record of value creation spanning dozens of investments with more than $6.5 billion of enterprise value created since 1997.


CenterPointe

Case Study

CenterPointe Behavioral Health System (CBHS) is a multisite, behavioral health service provider. CBHS addresses the mental health needs of its patients through a combination of medically managed care and therapeutic intervention. CBHS currently owns and operates psychiatric facilities in Missouri, Minnesota, and Illinois primarily focused on adolescent and adult populations with plans to expand geographies and service lines.


Company Background

Behavioral Health is increasingly a major focus in the United States. Nearly one in four adults experiences mental illness. Recent policy changes highlighted by the Affordable Care Act improve mental health coverage for 63 million Americans through coverage expansion, Medicaid expansion, and strengthening mental health parity. However, a significant undersupply of high quality behavioral providers remains. Analysts estimate that the industry is 50% “under-bedded” and 40-60% of the diagnosed population remains untreated.

CenterPointe provides comprehensive patient care across the full behavioral health continuum with inpatient care, partial hospitalization and intensive outpatient programs. CBHS is community based with inpatient facilities in Saint Louis and Kansas City, MO and is nationally recognized for its high quality of care.


Key Management

John “Buddy” Turner

Chief Executive Officer and Chairman of the Board

  • Over 20 years of behavioral healthcare management
  • Most recently CEO of Behavioral Centers of America (Sold to Acadia in 2013)
  • Previously served in leadership roles at Universal Health Services, Keystone Education, and Youth Services and Children’s Comprehensive Services

Azfar M. Malik, MD, MBA, DFAPA

Founder, President and Chief Medical Officer

  • Over 35 years of psychiatric practice and nearly 20 years of healthcare management
  • Founded CenterPointe Hospital in 2003
  • Assistant Clinical Professor in the Psychiatry Department at St. Louis University Health Science Center

Products and Services

  • Adult, Child, and Adolescent Psychiatry
  • Geriatric Adult Psychiatry
  • Adult Addiction Treatment
  • Partial Hospitalization
  • Intensive Outpatient Programs

Highlights

icon-beds@2x

Nearly 200

Number of beds

icon-providers@2x

Nearly 40

Number of physician providers

icon-locations@2x

30 Locations

Number of community behavior health locations

icon-patients@2x

Over 100,000

Number of patient encounters per year











Lucent Health

Case Study

Lucent Health Solutions is a national healthcare risk management company that administers health benefit plans for self-insured employers. Lucent leverages the power of data and analytics to control medical cost trend by managing claims, plan design and provider networks. Lucent’s executive management team has over 100 combined years in healthcare benefits administration, electronic payments and financial transactions. In 2014, NaviMed partnered with management to form Lucent and acquire two extremely well-regarded regional businesses: North America Administrators (Nashville, TN) and Capitol Administrators (Sacramento, CA). Lucent is actively pursuing additional acquisitions of leading companies in the industry.


Company Background

In this era of healthcare reform, the Affordable Care Act and the pressures of ongoing healthcare cost growth provide strong motivation for employers to shift to self-insurance. Employers who self-insure hire third party benefit administrators to design and operate their health plans. This industry is highly fragmented and historically paper-based. Lucent Health provides a technology platform to move from paper based to electronic transaction processing and brings value-added healthcare cost management solutions to reduce employer expenditures while maintaining quality of care for employees. Small and mid-sized employers have particularly strong incentives to move to self-insurance and represent significant growth potential for Lucent.


Key Management

Brett Rodewald

Chief Executive Officer

  • 25 years in the payment/transaction processing industry
  • Most recently President of Comdata, a leading payment processor generating $350 million of annual revenue
  • Previously at Bank of America and First Union National Bank

Alex Arnet

Chief Commercial Officer

  • 25 years of senior leadership in the healthcare benefits industry
  • Former Chief Sales Officer at HealthSmart, which manages $6 billion in claims annually
  • Previously at United Health Group/United Healthcare Administrators, Great-West Healthcare, and Prudential

Daniel Dugan

Senior Vice President
President of North America Administrators

  • 30 years in the healthcare benefits industry
  • Former CEO of North America Administrators

David Reynolds

Senior Vice President
President of Capitol Administrators

  • 45 years in the benefits and insurance industry
  • Former CEO of Capitol Administrators
  • Previously at Foundation Health Preferred Administrators, United Healthcare and Travelers
  • Board member and past president at Health Care Administrators Association (HCAA)

Products and Services

  • Captive Health Plans
  • Reference Based Health Plans
  • Level Funded
  • Minimum Essential Coverage Plans
  • Traditional Self Funded
  • Native American Health Plans
  • Government Services
  • BPO
  • Provider Electronic Payment Services
  • Pharmacy Benefit Management
  • FSA/HRA/HSA Administration
  • Wellness and Disease Management Programs
  • Employer Health Plan Analytics Software

Highlights

$300+ Million

$300+million

Volume of claims processed annually by Lucent

60,000 Lives

60,000 lives

Approximate number of covered employee lives

275+ clients

275+ clients

Number of employer customers

16% self-insured

16% self-insured

Among smaller employers, presenting huge growth potential


Investment Timeline

2014

NaviMed partners with Lucent management to identify potential benefits administration acquisitions

2014

NaviMed and management develop extensive acquisition pipeline

2014

Lucent completes acquisition of North America Administrators

2015

Lucent completes acquisition of Capitol Administrators

Prior Boards

Our managing directors have served on dozens of prior boards of directors of leading healthcare companies, including the following:

Barrx Medical

CAREfx

connecticare

endius

fairchild imaging

heritage health

Hyperion Therapeutics

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