Marlin & Associates Advises Bain Capital Ventures on One of the Year's Most Significant Healthcare Technology Transactions
08 Marzo 2013 - 5:31PM
Marketwired
Marlin & Associates, the boutique investment bank and strategic
advisory firm announced today that Marlin's client, Bain Capital
Ventures' portfolio company, ABILITY® Network Inc., a
market-leading healthcare technology company, has entered into a
definitive agreement to merge with Stamford, CT-based IVANS®, the
largest provider of secure insurance data communication services to
the US healthcare and Property & Casualty Insurance community
-- trusted by more than 350 insurance carrier customers and 30,000
independent agents nationwide. The press release can be read here.
Ability also has entered into a definitive agreement to sell the
Property and Casualty business of IVANS to Applied Systems Inc., a
leading provider of insurance software. ABILITY and Applied Systems
are portfolio companies of Bain Capital Ventures and Bain Capital,
respectively.
Marlin & Associates acted as exclusive strategic and
financial advisor to Bain Capital Ventures, the venture and growth
capital affiliate of Bain Capital, one of the world's leading
private, alternative asset management firms, with approximately $65
billion in assets under management worldwide.
"This is one of the healthcare industry's most exciting
transactions in years. This combination will significantly benefit
the industry and can address and reduce the administrative
complexity of connecting payors and providers," said Afsaneh
Naimollah, Partner at Marlin & Associates.
The merger is expected to close within 90 days, subject to
standard closing conditions.
Marlin & Associates is one of the most active investment
banking and strategic advisory firms providing strategic and
financial advice to worldwide buyers and sellers of middle-market
technology firms.
This is the fourth significant recent transaction in the
healthcare technology sector on which M&A has advised. In
February 2012, Marlin advised NaviNet, the nation's largest
real-time healthcare communication network on its acquisition by
Lumeris Corporation, the innovative, cloud-based health IT
provider; Pittsburgh-based, Highmark Inc., Horizon Blue Cross Blue
Shield of New Jersey (Horizon), and southeastern Pennsylvania's
Independence Blue Cross (IBC).
Marlin & Associates is headquartered in New York, NY and has
additional offices in San Francisco, CA; Washington, DC; Toronto,
Canada; and Hong Kong, China serving companies that provide
information and technology to a wide range of communities including
those that serve the banking, capital markets, insurance, marketing
and healthcare arenas.
About Marlin & Associates
Marlin & Associates Holding LLC is a boutique investment
banking and strategic advisory firm specializing in acquisitions
and divestitures of U.S. and international middle-market firms that
provide technology, digital information and healthcare-related
products, technology and services. The firm is headquartered in New
York, NY and has additional offices in San Francisco, CA;
Washington, DC; Toronto, Canada; and Hong Kong, China. Further
information can be read at www.MarlinLLC.com.
Marlin & Associates Securities LLC, a wholly-owned
subsidiary of Marlin & Associates Holding LLC, is a
broker-dealer registered with the Securities and Exchange
Commission and is a FINRA/SIPC member firm (www.finra.org).
Investment banking and/or securities are offered through Marlin
& Associates Securities LLC. Marlin & Associates'
professionals have advised on more than 200 successfully completed
transactions.
Some recent clients that Marlin & Associates has advised
include:
- Bain Capital Ventures' portfolio company ABILITY Network Inc.
of Minneapolis, Minnesota, which Marlin & Associates advised on
its merger with IVANS;
- SR Labs, LLC of New York City, which Marlin & Associates
advised on its $53M capital raise from Insight Venture
Partners;
- Knovel Inc. of New York City, which Marlin & Associates
advised on its sale to Reed Elsevier PLC (LSE: REL);
- Xcitek Solutions Plus, LLC (XSP) of Birmingham, Alabama, which
Marlin & Associates advised on its sale to SunGard Data Systems
Inc.;
- DMLT LLC (dba Investment Café) of Tampa, Florida, which Marlin
& Associates advised on its sale to eFront, a portfolio company
of Francisco Partners;
- Correlix of New York, NY and Tel Aviv, Israel, which Marlin
& Associates advised on its sale to TS-Associates Hamilton,
Bermuda;
- Ideas International Ltd. (ASX: IDE) of Hornsby, Australia,
which Marlin & Associates advised on its sale to Gartner (NYSE:
IT);
- Coalition Development Ltd. of London, UK, which Marlin &
Associates advised on its sale to CRISIL, a subsidiary of
McGraw-Hill (NYSE: MHP);
- IMS Research of Wellingborough, UK, which Marlin &
Associates advised on its sale to IHS Inc.;
- NYSE Euronext (NYSE: NYX) of New York, NY, which Marlin &
Associates advised on its acquisition of a strategic shareholding
in Fixnetix;
- Welsh, Carson, Anderson & Stowe of New York, NY, which
Marlin & Associates advised on its acquisition of a majority
interest in Triple Point Technology;
- Atrium Network of London, UK, which Marlin & Associates
advised on its sale to TMX Group (TSX: X);
- NYSE Euronext (NYSE: NYX) of New York, NY, which Marlin &
Associates advised on its acquisition of Metabit (Tokyo,
Japan);
- Subserveo, Inc. of Vancouver, Canada, which Marlin &
Associates advised on its sale to DST Systems, Inc. (NYSE:
DST);
- NaviNet, Inc. of Cambridge, Massachusetts, which Marlin &
Associates advised on its acquisition of Prematics;
- Qatarlyst of Doha, Qatar, which Marlin & Associates advised
on its acquisition of London-based RI3K;
- SMARTS Group of Sydney, Australia, which Marlin &
Associates advised on its sale to NASDAQ OMX (NASDAQ: NDAQ);
- SWIFT (Society for Worldwide Interbank Financial
Telecommunication) of Brussels, Belgium, which Marlin &
Associates advised on its acquisition of Ambit Messaging Hub from
SunGard;
- Avox of Wrexham Wales, UK, a majority-owned company of Deutsche
Börse (ETR: DB1), which Marlin & Associates advised on its sale
to The Depository Trust & Clearing Corporation (DTCC); and
- Strategic Analytics of Santa Fe, New Mexico, which Marlin &
Associates advised on its sale to Verisk Analytics (NASDAQ:
VRSK).
Contact: Krystle Bates Contact@MarlinLLC.com +1 (212)
257-6300
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