Kaufman Hall’s Acquisition Of Change Healthcare’s Connected Analytics Business

Kirkland & Ellis advised Madison Dearborn Partners and Kaufman, Hall & Associates, LLC in the transaction, while Ropes & Gray advised Change Healthcare.

Kaufman, Hall & Associates, LLC (“Kaufman Hall”) executed the acquisition of Change Healthcare’s Analytics Explorer, Performance Manager and other data solutions, collectively referred to as Connected Analytics, and combined them with Kaufman Hall Software.

The combined strengths of these two market leaders will create the industry’s most robust enterprise performance management software, data and analytics platform for hospitals and health systems. Healthcare organizations can elevate their financial and clinical performance by leveraging these comprehensive solutions, while Kaufman Hall Software’s higher education and financial institution clients will simultaneously benefit from a strengthened platform for continued future growth and investment. This acquisition also further enhances Kaufman Hall Software’s healthcare industry expertise, and subject matter expertise in data and analytics which will benefit its broad portfolio of clients.

Change Healthcare is a leading independent healthcare technology company that provides data and analytics-driven solutions to improve clinical, financial and patient engagement outcomes in the U.S. healthcare system.

Kaufman, Hall & Associates, LLC is a leading provider of enterprise performance management (EPM) software, data and management consulting solutions.

Madison Dearborn Partners, the majority owner of Kaufman Hall, is a leading private equity investment firm based in Chicago. Since MDP’s formation in 1992, the firm has raised aggregate capital of over $26 billion and has completed over 140 investments.

Deutsche Bank served as Kaufman Hall’s Financial Advisor. William Blair & Company served as Change Healthcare’s financial advisor.

The Kirkland team advising Madison Dearborn Partners and Kaufman, Hall & Associates was led by transactional partners Sandy Perl (Picture), Mark Fennell and Dan Hoppe.

The Ropes & Gray team that advised Change Healthcare was led by private equity partner Newcomb Stillwell (Boston) and strategic transactions partner Matthew Jacobson (San Francisco), and included strategic transactions partner Regina Sam Penti (Boston) private equity partner Jay Kim (New York) and tax partner Benjamin Rogers (San Francisco).

Involved fees earner: Mark Fennell – Kirkland & Ellis; Dan Hoppe – Kirkland & Ellis; Sanford Perl – Kirkland & Ellis; Matthew Jacobson – Ropes & Gray; Jay Kim – Ropes & Gray; Benjamin Rogers – Ropes & Gray; Regina Sam Penti – Ropes & Gray; Newcomb Stillwell – Ropes & Gray;

Law Firms: Kirkland & Ellis; Ropes & Gray;

Clients: Change Healthcare Holdings, Inc.; Kaufman, Hall & Associates; Madison Dearborn Partners;

Author: Ambrogio Visconti