Dresner Partners Advised Novia CareClinics on its Sale to Quadmed, LLC
|Thursday, November 14, 2013|
FOR IMMEDIATE RELEASE
DRESNER PARTNERS ADVISED NOVIA CARECLINICS,
Headquartered in Indianapolis, Novia focuses on delivering health and wellness solutions to employees and their dependents. Novia operates 49 center locations, servicing 96 different employers located throughout Indiana and in Colorado, Georgia, Mississippi and Ohio. Together, QuadMed and Novia CareClinics will operate more than 90 clinic locations across 18 U.S. states and serve the needs of more than 150,000 patients.
“This transaction will strengthen both our companies’ leadership positions in the healthcare markets we serve and enable us to offer the best of our respective models to a wider range of employers,” said Eric Olson, President of Novia CareClinics, who will continue with the combined company as a member of the senior leadership team. “We built our businesses independent of any competing interests, and combining our two companies will make an even more meaningful difference in today’s complex healthcare landscape.”
“Novia CareClinics was a pleasure to work with on this transaction,” said Mitchell Stern, Managing Director and Head of the Healthcare Group at Dresner Partners. “The company’s innovations in employer-sponsored healthcare management solutions and its on-site primary care for small to mid-size companies made it an attractive target for QuadMed.”
Steven Dresner, President at Dresner Partners, added, “We are pleased to have helped Novia in its sale to QuadMed. The two companies are complementary providers in employer-sponsored healthcare management solutions, and Novia will be a great addition to QuadMed.”
Novia CareClinics creates and manages employer-sponsored on-site clinics for small to mid-size companies and larger organizations with multiple locations. The services provided by Novia include clinic operations management, such as inventory maintenance, online scheduling and electronic medical records systems, individual health risk assessments, pre-disease management and educational reach-out programs.
QuadMed is a subsidiary of Quad/Graphics, a leading global printer and media channel integrator. Quad/Graphics created QuadMed to improve employees’ access to quality, cost-effective healthcare through on-site primary care clinics and robust wellness programming. Later, Quad/Graphics began sharing its QuadMed model with other large, self-insured employers. QuadMed’s track record of success is rooted in integrating prevention-focused primary care with leading-edge information management. Today, QuadMed serves a wide variety of Fortune 1000 companies.
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