The Carlyle Group, a global investment firm, has entered into an agreement to acquire healthcare technology company CNSI from Alvarez & Marsal Capital Partners in a transaction expected to close in December 2021.
As part of the acquisition, Wash100 Award recipient Todd Stottlemyer, CEO of CNSI, will continue to lead the company, Carlyle said Thursday.
“We are quite excited to be working with Todd again, this time at CNSI,” said Frank Finelli, a managing director at Carlyle and a previous Wash100 Award winner.
Prior to his time with CNSI, Stottlemyer served as corporate vice president for the Carlyle-backed information technology firm, BDM International.
Stottlemyer said that based on his previous experience working with Carlyle, the investment firm will serve as a strong partner to CNSI and help the company achieve its growth objectives.
“We are delighted about this opportunity to partner with Carlyle as we continue to execute exquisitely for our clients, strengthen our market-leading products and solutions, and drive innovation that improves health outcomes and lowers costs,” Stottlemyer added.
CNSI serves state and federal clients in the healthcare technology market with its capabilities spanning provider enrollment, program integrity, analytics and claims and encounter processing in support of Medicaid, Medicare and other health programs.
Baird served as CNSI’s financial advisor through the transaction.