Consonance Capital Partners Agrees to Sell Enclara Healthcare to Humana

VCBeat (WeChat ID: vcbeat) has learned that on December 16, 2019, local time, Consonance Capital Partners, a leading private equity fund focused on the healthcare sector, announced it had signed a definitive agreement to sell Enclara Healthcare and its management team to Humana Inc. (NYSE: HUM), a major U.S. commercial health insurance provider. Certain assets are excluded from the transaction, and the terms have not been disclosed. Founded 20 years ago, Enclara Healthcare is a leading provider of pharmacy solutions dedicated to simplifying complex care coordination to improve patient experience, enhance quality of care, and control healthcare costs.

Benjamin Edmands, Co-Founder and Managing Partner at Consonance Capital Partners, stated, “Over the past five years, it has been a pleasure to work with Andy Horowitz, Stephen Phenneger, and the entire Enclara management team. The team has excelled in driving the company’s organic growth and building a market-leading, technology-enabled pharmacy management business through mergers and acquisitions. This business serves national and local clients with hospice care needs while addressing the requirements of nursing staff, patients, and their caregivers. We are delighted that Humana will become the steward of this business and look forward to its pivotal role in hospice benefits and serving other patients with chronic conditions at home. We wish the Enclara team every success with their new partners.”

Since investing in Enclara in 2014, Consonance Capital Partners has worked side by side with the management team to support the company’s transformational development. During this period, Enclara completed the acquisitions of ExcelleRx, PBM Holdings, and Avanti Health Care Services, expanded its service offerings, made significant investments in its proprietary medication ordering and management technology platform, E3™, and leveraged its core competencies to expand into the chronic disease care pharmacy sector.

Evercore advised Consonance Capital Partners and Enclara Healthcare, while Latham & Watkins LLP served as legal advisor for the acquisition. Centerview Partners LLC also provided advisory services to Humana.

Enclara Healthcare is a leading solutions provider dedicated to streamlining chronic disease management workflows and care services to enhance patient experience. Enclara Healthcare partners with healthcare organizations to drive value-based care through expertise, streamlined processes, and technology.

Consonance Capital Partners invests in private companies in the lower-to-mid-tier segments of the U.S. healthcare industry, which typically deliver operational efficiency, cost control, and high-quality clinical care to patients.

Humana Inc. is a major provider of healthcare services, headquartered in Kentucky, with coverage spanning nearly 6 million people across the United States. In addition to offering a diverse range of health insurance plans, the company also provides preventive care programs to assist individuals in taking responsibility for their own health.

(Compiled by Ning Chen)