Princeton, NJ – August 28, 2018 – CitiusTech, a leading provider of healthcare technology solutions and services, announced today that it has acquired a majority equity stake in FluidEdge Consulting (FluidEdge), a national healthcare management consulting company headquartered in Philadelphia, PA.
FluidEdge focuses its capabilities within the operations and IT areas of health plan, life sciences and provider organizations. The organization has an experienced team of healthcare technology and management consulting professionals with deep expertise in business, operations, and technology, along with a strong understanding of emerging trends in value-based care.
“FluidEdge has excellent business and technology consulting capabilities. Our partnership with FluidEdge enables us to strategically engage with healthcare customers, leverage technology to define enterprise solutions, and build and deploy these solutions to drive business performance,” said Rizwan Koita, Chief Executive Officer of CitiusTech.
CitiusTech has successfully developed deep and long-term relationships with leading healthcare organizations and technology companies. The company reached over $130 million in revenue in 2017 with a CAGR of over 30 percent over the last five years, through a mix of healthcare technology services and platforms. CitiusTech was ranked in the 2018 Healthcare Informatics (HCI) 100 list, putting it among the top 100 companies in the U.S. healthcare industry for the third consecutive year.
“We are excited to partner with CitiusTech. CitiusTech’s sizeable industry presence and strong technology team complement our core competencies and give us the ability to compete effectively on larger contracts and derive significant cost advantages. We also anticipate multiple opportunities to jointly develop world-class solutions to address complex industry needs. We are looking forward to this partnership,” says Shawn Archambault, President and CEO of FluidEdge.
Fairmount Partners, leading independent M&A advisor to the information technology (IT) and healthcare/ life sciences services industries, acted as financial advisor to FluidEdge Consulting. Morgan, Lewis & Bockius acted as legal advisor to FluidEdge.
About FluidEdge Consulting
For over a decade, FluidEdge Consulting (www.fluidedgeconsulting.com) has provided healthcare organizations with comprehensive consulting solutions by integrating their business needs, corporate goals, industry trends and information technology. With a team of over 120 professionals, FluidEdge Consulting provides strategic planning, implementation services, program and project management and business transformation services to healthcare organizations, which include health plans, life sciences companies, large provider systems, and healthcare technology firms. FluidEdge has been ranked in the Inc5000 as one of the fastest growing private companies in the United States for six consecutive years.
CitiusTech (www.citiustech.com) is a specialist provider of healthcare technology services and solutions to medical technology companies, providers, payers and life sciences organizations, with over 3,000 professionals worldwide. CitiusTech’s services and solutions include healthcare software development, healthcare interoperability, regulatory compliance, BI/analytics, consumer engagement, care coordination and population health management. CitiusTech helps customers accelerate innovation in healthcare through solutions and accelerators for clinical quality reporting, healthcare big data, cloud computing, mobile health and predictive analytics. With cutting-edge technology expertise, world-class service quality and a global resource base, CitiusTech consistently delivers best-in-class solutions and an unmatched cost advantage to healthcare clients worldwide.
About Fairmount Partners
Fairmount Partners, headquartered in suburban Philadelphia, is a leading independent M&A advisor to companies operating in the healthcare, technology and technology services industries. The firm specializes in advising successful, entrepreneur led middle-market growth companies with mergers and acquisitions, capital raising and strategic advice. Fairmount has completed more than 200 transactions throughout North and South America, Europe, Asia and Australia. Fairmount Partners is a registered Broker Dealer, member FINRA (www.finra.org) and SIPC (www.sipc.org). For more information, please visit: www.fairmountpartners.com.
Contact: Jonathan Smith