Company Ideally Positioned to Expand Chronic Care Management of Patients in the Home and Health Risk Assessments
LOS ANGELES, Sept. 3, 2013 – Triton Pacific Capital Partners, a well-established private equity firm, announced today that Cigna has purchased one of its portfolio companies, Alegis Care.
Alegis Care (previously known as Home Physicians) is a Chicago-based Chronic Care Management, Health Risk Assessment and Medicare Fee for Service organization that was acquired by Triton Pacific in March of 2006. Focused on providing comfortable in-home care for chronically ill and elderly patients, Alegis Care’s services are particularly timely with respect to the Affordable Care Act.
Over the last seven years, Triton Pacific applied its trademark Value Enhancement ProgramSM to Alegis Care. This time-tested business model, in conjunction with the firm’s operating expertise, allowed Alegis Care to accelerate the business’s growth and maximize value.
“We are pleased to have Cigna recognize the value created in Alegis Care. We achieved our strategic positioning of the company to capitalize on the Affordable Care Act’s stated goal of combining cost containment with quality of care,” said Craig J. Faggen, CEO of Triton Pacific. “Cigna is in an excellent position to build and guide Alegis Care through the next phase of growth.”
Triton Pacific’s investors have received distributions over the life of the investment and will receive additional proceeds from the sale. During Triton Pacific’s ownership period, Alegis Care increased in value by more than 2.6 times. Raymond James Financial, Inc. served as exclusive financial advisor to Alegis Care.
About Cigna (NYSE: CI)
To learn more about Cigna, visit www.cigna.com.
About Triton Pacific
Triton Pacific Capital Partners, LLC, founded in 2001, is a private equity firm that invests in middle market companies in high growth or rapidly changing industries. Headquartered in Los Angeles, California, Triton Pacific currently manages four private equity funds and is the sponsor of Triton Pacific Investment Corporation, a non-traded public Business Development Company. For more information, visitwww.tritonpacific.com.
To see the Cigna press release about the acquisition, click here.
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Stephanie Olsen
Lages & Associates
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stephanie@lages.com