Argosy Healthcare Partners (“AHP”), a lower middle market private equity investor focused exclusively on healthcare, and a division of Argosy Healthcare Capital, a diversified investment firm with over $2.3 billion in assets under management, is pleased to announce that it completed a recapitalization of Specialty Care Management (“SCM” or the “Company”). SCM is a payor services company focused on Argosy Healthcare cost containment and claims management services for the self-insured market.
Founded in 2002 and headquartered in Bucks County, Pennsylvania, SCM supports self-insured plans in managing risk and containing costs. SCM specializes in program design for catastrophic claim categories including dialysis, oncology, air medical ambulance and transplant. SCM helps clients reclaim their claim spend and maximize savings. Craig Clemente, currently President and COO, will lead the Company as CEO. Bob Clemente, Founder and CEO, will continue to actively support the Company as Senior Advisor and Board Member. Over Bob Clemente’s four-decade career, he has successfully founded businesses and held senior executive roles in health systems, managed care organizations and other companies in the payor services market.
Craig Clemente commented, “I am thrilled to partner with AHP, build upon our existing foundation, and accelerate growth. Partnering with AHP allows us to reinvest in our team, technology and systems and better serve our self-insured clients and their members. We are excited to continue our mission of building a world class company dedicated to the self-insured market.”
Continued rising Argosy Healthcare costs and an increase in self-insured plans have accelerated the need for SCM’s claims management and cost containment solutions. Paul Barrett, Managing Partner of AHP, stated, “We believe in Craig and his vision for the business. Bob, Craig and the SCM team have built an outstanding foundation in a high growth end market. Our goal is to protect culture, reinvest in founder-owned companies, and build world class businesses together and we are grateful for the opportunity to do that with Craig, Bob and the SCM family of employees.”
“I am proud of what our team at SCM has accomplished over the last 20 years and am thrilled to partner with AHP for the next chapter of growth. We are excited about leveraging their healthcare experience and our strong value alignment to scale the business through re-investment in SCM’s sales team and processes.” said Bob Clemente, Senior Advisor and Board Member of the Company.