Senior HCIT Banker Joins BCA

Brentwood Capital Advisors Adds Senior HCIT Banker Jack Jeong As Managing Director

Brentwood Capital Advisors LLC (BCA), a partner-owned investment bank focused on the healthcare and technology industries, is expanding the capabilities of its healthcare information technology (HCIT) practice by hiring Jack Jeong as Managing Director. With over 12 years in middle-market, growth-focused healthcare investment banking, Mr. Jeong has completed over 80 advisory and underwriting transactions representing $24 billion in aggregate transaction value.

“We are very excited to have Jack join our team,” said Kevin Murphy, BCA Managing Partner. “Jack’s hiring reflects our view on the significant opportunity available in HCIT and strong commitment to the space. He has deep, longstanding relationships within the industry and brings a wealth of knowledge and expertise to our HCIT practice. Jack will bring a new and highly valued dimension to our HCIT capabilities.”

Mr. Jeong joins BCA from Raymond James, where he was instrumental in the growth of its HCIT franchise. Prior to Raymond James, Mr. Jeong worked for Morgan Keegan before its acquisition by Raymond James and started his career at SunTrust Robinson Humphrey. Mr. Jeong holds a Bachelor of Arts degree in Economics and Mathematics, summa cum laude, Phi Beta Kappa, from Washington and Lee University.

Mr. Jeong will partner with John Kibler (Managing Director), Porter Meadors (Director), and Brian Brett (Associate) as the fourth member of BCA’s growing, dedicated HCIT team and will primarily work with provider-focused, consumer-focused, payor-focused, and pharma-focused HCIT and digital health companies. BCA’s recent HCIT transactions include representing Orchard Software in its sale to Francisco Partners, the recapitalization of Harmony Healthcare IT by Primus Capital, and the divestiture and sale of Connecture’s Medicare and commercial enrollment software solutions to Harris / Constellation Software and Benefitfocus, respectively.

“BCA has a 20+ year history of delivering exceptional results and serving as trusted advisors to leading healthcare companies, management teams, and investors,” said Mr. Jeong. “I am excited to join and am honored to be part of this talented team, helping to expand its HCIT franchise.”

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 over 100 successfully closed transactions totaling approximately $6.6 billion in value in these sectors. Founded in 1999, the firm is partner-owned and has 23 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.


Psychiatric Medical Care is Recapitalized by Consonance Capital

Brentwood Capital Advisors Serves as Exclusive Financial Advisor to Psychiatric Medical Care

Brentwood Capital Advisors (“BCA”) is pleased to announce that it served as the exclusive financial advisor to Psychiatric Medical Care (“PMC” or the “Company”) in its recently completed recapitalization by Consonance Capital Partners (“Consonance”).
PMC is the leading behavioral health management company focused on addressing the unique needs of the geriatric population, primarily within underserved rural markets. The recapitalization will enable the company to accelerate its expansion of offerings and provide additional services to its clients and their high-need patient populations and communities. Financial terms of the transaction were not disclosed.

“PMC is a premier behavioral health management company and is well-positioned to meet the growing need for high-quality geriatric behavioral care, especially within rural communities,” noted Stephen McKenna, Managing Partner & Co-Founder of Consonance Capital Partners. “J.R. Greene, CEO of PMC, and his team have created a robust platform by establishing a sustainable model with differentiated, high quality clinical programming at its core. We look forward to working with PMC as it continues to build upon its considerable success to date.”
“I am proud of what our team at PMC has accomplished; since the beginning, PMC’s mission has been to improve the quality of life for older adults living in rural communities” explained J.R. Greene. “We are excited to partner with the Consonance team based on their extensive healthcare experience and their shared vision of improving the lives of PMC’s patients. Together, we will be able to broaden the depth and breadth of our services and to reach more people. BCA, our exclusive investment banking advisor, was instrumental during the entire process, helping us select the best partner for the long-term success of PMC.”

Nancy-Ann DeParle, Partner & Co-Founder of Consonance Capital Partners, commented, “Having been raised in a rural community, I understand firsthand the unmet need for behavioral healthcare services in these areas, especially among the geriatric population. Addressing these gaps in care has been a lifelong goal, and I am thrilled that we at Consonance will be able to assist J.R. and his team in expanding PMC’s footprint and helping more people in these underserved communities.”
“PMC’s growth in recent years and proven ability to serve rural hospitals with its best-in-class clinical model presented a highly attractive partnership opportunity for Consonance,” added L.A. Galyon, Managing Director at Brentwood Capital Advisors. “The behavioral health sector remains a key focus of BCA’s healthcare services practice, and the PMC transaction builds upon BCA’s leadership position in behavioral health investment banking, which now includes 14 transactions in this sector. We were pleased to serve as PMC’s exclusive financial advisor in this important transaction and enjoyed working with J.R. Greene and PMC’s CFO, Bobby Rouse Jr., CPA.”

Consonance Capital Partners was advised by Latham & Watkins LLP and Bass, Berry & Sims PLC. PMC was advised by Brentwood Capital Advisors LLC and Waller Lansden Dortch & Davis, LLP.

About Psychiatric Medical Care
Founded in 2003 and based in Nashville, TN, PMC is the leading behavioral health management company focused on addressing the unique needs of the geriatric population. PMC operates in over 20 states,primarily within rural and underserved communities. The company manages both inpatient psychiatry units and intensive outpatient psychiatry programs. The company’s programs provide evaluation and treatment for older adults suffering from behavioral health issues including depression, anxiety, bipolar disorder, and PTSD. For more information, visit www.psychmc.com.

About Consonance Capital Partners
Consonance Capital Partners invests in private companies in the lower middle market of the U.S. healthcare industry with an emphasis on businesses driving efficiency, cost containment and high quality clinical care to patients. Consonance Capital Partners participates in growth equity, leveraged buyout, and recapitalization transactions. The private equity fund is associated with Consonance Capital Management, a healthcare-focused long/short public equity manager, and together Consonance Capital has approximately $2 billion of assets under management. For more information, visit www.consonancecapital.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 97 successfully closed transactions totaling approximately $6.3 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.


Custom Packaging to be Acquired by Hood Container Corporation

Brentwood Capital Advisors Serves as Exclusive Financial Advisor to Custom Packaging LP

Brentwood Capital Advisors (“BCA”) is pleased to announce that it served as the exclusive financial advisor to Custom Packaging LP (“Custom Packaging” or the “Company”), which recently entered into a definitive agreement to be acquired by Hood Container Corporation (“Hood Container”). The transaction was approved by both companies’ boards of directors and is expected to close in January 2019, subject to customary closing conditions.

Headquartered in Lebanon, Tennessee, Custom Packaging is a leader in the design and manufacturing of corrugated displays, graphics and industrial packaging. The Company operates two state-of-the-art manufacturing plants in Lebanon, Tennessee and Arden, North Carolina and serves over 500 customers across the country. The Custom Packaging acquisition allows Hood Container to strengthen its market position in the Southeast, grow its converting operations and bring an added focus into the graphics display and retail packaging market segments.

“We are truly excited to join the Hood Container/Stronghaven family. For over 50 years, Custom Packaging has been a leader in the corrugated industry with a reputation for customer service, innovation and quality. Our people and culture have been the cornerstone for our success in the marketplace and we firmly believe being a part of the Hood organization is the ideal fit to serve our customers as the most trusted partner in the industry,” said Gary West, CEO of Custom Packaging. “Brentwood Capital Advisors played a critical role in positioning the unique value proposition of Custom Packaging within the corrugated industry and structured a highly competitive process that yielded the best result for our shareholders and employees.”

“Custom Packaging’s 50-year track record of providing innovative, high-quality corrugated products and best-in-class customer service presented a highly attractive opportunity,” added John Allgood, Vice President at Brentwood Capital Advisors. “We were pleased to serve as Custom Packaging’s exclusive financial advisor on this important transaction and enjoyed working with Gary West and his team.”

About Custom Packaging LP
Custom Packaging LP is a family-owned and operated independent sheet plant with manufacturing operations in Lebanon, Tennessee and Arden, North Carolina. Since 1968, the Company has been a leader in the manufacturing of corrugated graphics and industrial packaging and point-of-purchase displays. For more information, please visit www.custompackaging.com.

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 96 successfully closed transactions totaling approximately $6.2 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.


Retina Consultants of Nevada is Acquired by Comprehensive EyeCare Partners

Brentwood Capital Advisors Serves as Exclusive Financial Advisor to Retina Consultants of Nevada

Brentwood Capital Advisors (“BCA”) is pleased to announce that it served as the exclusive financial advisor to Retina Consultants of Nevada (“RCN” or the “Company”) in its recently completed sale to Comprehensive EyeCare Partners (“CompEye”).

Located in Las Vegas, Nevada, RCN is an ophthalmology subspecialty practice that provides comprehensive retinal and vitreous care to patients across the southern Nevada and Utah markets. The Company’s eight board certified and nationally recognized retina specialists see over 40,000 patients annually across seven clinics.

Comprehensive EyeCare Partners, a portfolio company of Gauge Capital, is one of the largest vision care management services organizations in the United States and headquartered in Las Vegas. CompEye provides best-in-class, full-spectrum practice management and administrative services to its affiliated physicians and practices in support of their mission to deliver clinical excellence. CompEye currently provides support services to 44 doctors, 23 clinics and two ambulatory surgery centers across four practices: Nevada Eye Physicians, New Eyes of Southern Nevada, Retina Consultants of Nevada and Shepherd Eye Center.

“We are excited to partner with CompEye,” said Dr. Meher Yepremyan, RCN managing partner. “This partnership will allow us to expand our clinical footprint, attract and retain the best physicians in our industry and thrive in a value-based reimbursement environment. BCA, our exclusive investment banking advisor, played a critical role in positioning and defending forward-looking financial results and was instrumental in achieving an outcome that maximized shareholder value. BCA guided us through an extensive diligence process and helped us find an optimal partner with a shared vision for providing clinical excellence.”

“RCN’s longstanding track record of best-in-class clinical care and retinal subspecialty focus presented a highly attractive opportunity for CompEye,” added L.A. Galyon, Managing Director at Brentwood Capital Advisors. “Ophthalmology represents a growing segment of BCA’s physician services practice, and we were pleased to serve as RCN’s exclusive financial advisor in this important transaction.”

Retina Consultants of Nevada
Founded in 1980, Retina Consultants of Nevada is the largest subspecialty retinal practice in Nevada. The Company consists of eight board certified and nationally recognized retinal specialists who focus solely on diseases and surgery of the retina and vitreous. Annually, RCN’s physicians see 40,000 patients across the Company’s seven clinics. For more information, please visit www.retinanevada.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 96 successfully closed transactions totaling approximately $6.2 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 Gauge Capital
Gauge Capital is a private equity firm that partners with founders, managers and equity stakeholders of successful middle market companies to maximize their potential. Gauge invests in rapidly growing services and technology-enabled companies in the healthcare, business services, industrial, consumer and food sectors. For more information, please visit www.gaugecapital.com.


IMN Receives Growth Equity Investment from Level Equity

Brentwood Capital Advisors Serves as Exclusive Financial Advisor to inMotionNow

Brentwood Capital Advisors (“BCA”) is pleased to announce that it served as the exclusive financial advisor to inMotionNow, Inc. (“inMotionNow” or the “Company”) in its recently completed growth equity investment led by Level Equity.

Headquartered in Raleigh, North Carolina, inMotionNow is a rapidly growing provider of cloud-based workflow management software for enterprise creative and marketing teams. With over 400 customers, the Company offers a SaaS solution and suite of tools that enable its users to more effectively manage and streamline the internal creative content production processes from concept to completion.

“Level Equity has an enviable track record of picking winners in high growth markets. To that end, our new partner gives us the capacity to accelerate our business trajectory and expand our capabilities for customers. We’ll be on the hunt for talent to join our team and help us do just that,” said inMotionNow President and CEO Ben Hartmere. “BCA played a critical role in advising all of the Company’s constituents through this important transaction that met the needs of both existing and future investors. BCA’s software industry knowledge and transactional expertise played a key role in analyzing and positioning inMotionNow’s strong recurring revenue growth and market-leading position in the vertically integrated creative workflow market.”

“It was a pleasure representing inMotionNow in this important transaction,” said Cook Wylly of Brentwood Capital Advisors. “We are excited for the Company as it partners with Level Equity to continue scaling rapidly and providing market-leading software to its customers. Enterprise software is a strong and growing segment of Brentwood Capital Advisors’ industry coverage, and inMotionNow represents BCA’s 30th closed technology transaction.”

About inMotionNow
inMotionNow is a leading provider of workflow management solutions for marketing and creative teams, facilitating efficiency and productivity from project kickoff to final approval. inMotion, the company’s flagship SaaS product, simplifies every phase of the creative production process, delivering measurable value to enterprise clients. The application allows project stakeholders to manage, track, and collaboratively review their print, video, and interactive projects in a centralized online environment. With a user-friendly interface and dedicated customer success team, inMotionNow helps creative and marketing teams of every variety automate their workflow and do the work they love. For more information please visit www.inmotionnow.com.

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 92 successfully closed transactions totaling approximately $5.9 billion in value in these sectors. Founded in 1999, the firm is partner-owned and has 20 investment banking professionals. For more information, please visit www.brentwoodcapital.com.


Camellia Healthcare to be Acquired by Encompass Health Corporation

Brentwood Capital Advisors Serves as Exclusive Financial Advisor to Camellia Healthcare

Brentwood Capital Advisors (“BCA”) is pleased to announce that it served as the exclusive financial advisor to Camellia Healthcare (“Camellia” or the “Company”), which recently entered into a definitive agreement to be acquired by Encompass Health Corporation (“Encompass”). The transaction was approved by both companies’ boards of directors and is expected to close in the second quarter of 2018, subject to customary closing conditions.

Headquartered in Hattiesburg, Mississippi, Camellia is one of the largest, independent home-based care providers in the Southeast that offers best-in-class hospice, home health and private duty services. The Company’s 34 offices serve over 2,800 patients across 155 counties throughout Alabama, Louisiana, Mississippi and Tennessee. The Camellia acquisition allows Encompass to leverage its home health and hospice operating platform across previously unserved regions and strengthen its geographic presence in the southeastern United States.

“Choosing the right partner to take our family-owned business to new heights was an extremely important decision. We are honored to be joining the Encompass team and are confident that they will continue the legacy of high-quality patient care in the communities we serve,” said Abb Payne, CEO of Camellia Healthcare. “Brentwood Capital Advisors played a critical role in positioning the scarcity value of the Camellia platform and structured a highly competitive process that yielded the best result for our shareholders, employees and patients.”

“Camellia’s longstanding track record of best-in-class clinical care and strong market share in the southeastern United States presented a highly attractive opportunity to buyers,” added L.A. Galyon, Managing Director at Brentwood Capital Advisors. “Home health and hospice represents a growing segment of BCA’s healthcare services sector coverage, and we were pleased to work with Abb Payne and his management team again. Camellia represents an important transaction in building upon BCA’s recent success, which includes 14 closed healthcare transactions since 2017.”

About Camellia Healthcare
Formed in 1974 by W.A. Payne, Camellia Healthcare is an award-winning, Medicare-certified, state-licensed provider of hospice, home health, and private duty services. Founded and headquartered in Hattiesburg, Mississippi, Camellia employs approximately 1,100 professionals, who provide a broad range of high-quality, post-acute care services across 34 offices in Mississippi, Alabama, Louisiana and Tennessee. For more information, please visit www.camellia.com.

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 over 90 successfully closed transactions totaling approximately $5.8 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.