Cimarron Healthcare Capital, a Salt Lake City private equity firm focused on making investments in healthcare companies in the lower-middle market, has acquired CareAccess MSO of Cerritos, California. CareAccess is a management services company in the health and wellness industry that partners with primary care physician groups in support of establishing and managing contracts with Medicare Advantage plans. CareAccess’ management team is also involved in the investment.
Financial terms of the private transaction were not disclosed.
CareAccess was founded by current CEO Tammy Le, a 20-plus year executive in the Southern California managed care industry, having spent time at several IPAs, Medicare-managed care plans and independent hospitals.
“From my first meeting with Cimarron, it was clear that their understanding of managed care and their partnership orientation would help me accomplish the lofty goals I have for CareAccess MSO,” said Le. “I have already felt the positive impact of their highly relevant relationships and healthcare expertise, and I couldn’t be more pleased with what this investment means for our company and our clients.”
“We are thrilled to partner with Tammy and the broader CareAccess team to further advance this exciting growth story and are grateful she’s entrusted Cimarron with this partnership,” said James Nadauld, managing partner of Cimarron.
“Tammy and her team have built a terrific business at the forefront of managed care,” said Nick Smith, a principal at Cimarron. “CareAccess’ commitment to service delivery, combined with its broad network of industry relationships, provides tremendous support and opportunity to its physician partners to thrive in a value-based care environment.”