Harmony HCIT is Repacitalized

Brentwood Capital Advisors Serves as Exclusive Financial Advisor to Harmony Healthcare IT

Brentwood Capital Advisors (“BCA”) is pleased to announce that it served as the exclusive financial advisor to Harmony Healthcare IT (“Harmony” or the “Company”) and its affiliated entities in its recently completed recapitalization by Primus Capital Funds (“Primus”).

Founded in 2004 and based in South Bend, Indiana, Harmony offers a HIPAA-compliant and cost-effective data extraction and legacy data archiving solution for healthcare facilities decommissioning clinical, financial, administrative or other software systems. The Company’s enterprise platform enables a one-stop migration and archiving solution that is required by regulators for a healthcare facilities’ storage and protection of sensitive legacy PHI data.

“We are excited to partner with Primus,” said Tom Liddell, Harmony CEO. “This partnership will enable us to further accelerate growth, support our customers and leverage Primus’ extensive healthcare information technology expertise. BCA, our exclusive investment banking advisor, played a critical role in creating a competitive process, articulating the Company’s significant growth opportunity and highly visible future revenue and EBITDA. BCA provided the necessary support and guidance to reach a successful close. Their process yielded a great outcome for shareholders and a strong partner who shares our enthusiasm for the Company’s continued success.”

“Harmony’s growth, seasoned management team and leading market position within the healthcare data archiving industry made the Company highly attractive to Primus,” added Porter Meadors, Director at Brentwood Capital Advisors. “We were pleased to represent Harmony and the talented team in this important transaction. We look forward to their continued success.”

About Harmony Healthcare IT Since 2006, health IT analysts at Harmony Healthcare IT have extracted demographic, financial, clinical and administrative data from hundreds of healthcare applications — both ambulatory and acute. Headquartered in South Bend, Indiana, the company’s mission is to preserve vital information that will improve lives. Harmony Healthcare IT employs experts in data extraction, migration, retention, interoperability and analytics to provide its clients with trusted solutions. Working with hundreds of software brands, billions of records and petabytes of data, Harmony Healthcare IT — with its product, HealthData Archiver® — provides clients with access to historical records. Simply. For more information, please visit www.harmonyhit.com.

About Brentwood Capital Advisors Based in Franklin, Tennessee, Brentwood Capital Advisors LLC is one of the South’s leading boutique investment banks that provides mergers and acquisitions and capital raising advice to privately-held, middle-market healthcare, technology and tech-enabled and outsourced services companies. BCA has served as exclusive financial advisor in 99 successfully closed transactions totaling approximately $6.4 billion in value in these sectors. Founded in 1999, the firm is partner-owned and has 19 investment banking professionals. For more information, please visit www.brentwoodcapital.com.


Connecture Commercial Software Solutions is acquired by BENEFITFOCUS

Franklin, Tenn. (March 11, 2019) — Brentwood Capital Advisors (“BCA”) is pleased to announce that it served as the exclusive financial advisor to Connecture, Inc. (“Connecture” or the “Company”) in the sale of certain assets of its commercial software solutions business (“CSS”) to Benefitfocus, Inc. (“Benefitfocus”).  Connecture is a portfolio company of Francisco Partners, a leading private equity firm focused exclusively on investments in technology and technology-enabled services businesses.

Headquartered in Brookfield, Wisconsin, Connecture provides innovative shopping, enrollment and engagement software solutions that empower consumers to identify and enroll in the right health plan. The commercial software solutions business offers enrollment solutions that automate key portions of the insurance distribution process for small group and individual plans and serves several of the largest carriers in the U.S. based on total enrollment.

“BCA, our exclusive investment banking advisor, played a critical role in positioning the unique value proposition of CSS and structured a highly competitive process that yielded the best result for our shareholders and employees. The sale of CSS was a critical step in our strategy of increasing the focus and investments in our industry leading medicare and drug price transparency solutions.  We enjoyed working with BCA on this complex carve-out transaction and are pleased with the outcome,” stated Kraig McEwen, CEO of Connecture.

“We were thrilled to represent Connecture in the sale of its commercial software solutions business,” stated John Kibler, Managing Director at BCA. “Connecture is a leading provider of insurance distribution software to healthcare organizations.  We look forward to working with them in the future.”

About Brentwood Capital Advisors

Based in Franklin, Tennessee, Brentwood Capital Advisors is one of the South’s leading boutique investment banks, providing mergers and acquisitions and capital raising advice to privately-held, middle-market healthcare, technology and tech-enabled and outsourced services companies. BCA has served as exclusive financial advisor in 99 successfully closed transactions totaling approximately $6.4 billion in value in these sectors. Founded in 1999, the firm is partner-owned and has 19 investment banking professionals. For more information, please visit www.brentwoodcapital.com.

About Connecture, Inc.

Provider of a web-based sales, service and process automation platform designed to streamline health insurance distribution. The company’s process automation platform offers a personalized health insurance shopping experience that recommends the best fit insurance plan based on an individual’s preferences, health status, preferred providers, medications and expected out-of-pocket costs. The Company’s solutions enable insurance marketplace operators to distribute health insurance in a cost-effective manner.