Fairmount Partners Advises SDLC in its Sale to CitiusTech
PRINCETON, NJ – June 24, 2021 – CitiusTech, a leading provider of healthcare technology services, solutions and platforms, announced today that it has made a strategic acquisition of SDLC Partners (SDLC), a Pittsburgh, PA based provider of technology solutions to leading payer organizations.
SDLC focuses on three key areas of payer technology needs – technology transformation, consulting and automation solutions. With a team of 350+ healthcare technology professionals, SDLC has specialized payer business expertise including member experience management, intelligent automation, data & analytics and core applications. SDLC also comprises CyLumena, a top-ranked cyber security firm.
“Payer organizations are leaning heavily on digital capabilities and innovative technology solutions to enhance quality of care, member experience and overall performance,” said Bhaskar Sambasivan, President of CitiusTech. “Our investment in SDLC is another step towards helping payers accelerate their transformation to value-based, member-centric operating models.”
“By bringing together next-gen technology capabilities, deep industry expertise through FluidEdge Consulting and SDLC’s payer-focused solutions, we are uniquely positioned to drive digital transformation in the health plan industry,” said Eric Schultz, Executive Vice President, CitiusTech & President, FluidEdge Consulting (a CitiusTech company). “I look forward to working closely with the SDLC leadership team to build strong synergies between our organizations.”
“SDLC brings proven capabilities and very talented team members with deep expertise, manifesting in the solutions we are known to deliver for clients” says Chris Simchick, Chief Executive Officer of SDLC Partners. “Combining this with CitiusTech’s industry presence and its rich portfolio of complementary digital offerings gives us the ability to broaden our access to payer markets, compete and win larger opportunities and move front and center in our customer’s digital transformation strategy.”
The acquisition of SDLC comes on the back of strong growth for CitiusTech across all its market segments. CitiusTech’s Payer market business has experienced a significant jump in revenue this year, through a portfolio of digital capabilities and platforms around member engagement, analytics, HEDIS / STARS optimization and quality & performance management needs. CitiusTech was recently recognized as a ‘Leader’ in Everest Group’s Healthcare IT Services Specialists PEAK Matrix® Assessment 2021, due to its focus on digital solutions, deep healthcare domain expertise and strong technology partnerships.
Fairmount Partners, a leading investment bank based in Philadelphia, PA, advised SDLC on this transaction.
About CitiusTech
CitiusTech (www.citiustech.com) is a leading provider of healthcare technology services, solutions and platforms, with strong presence across the payer, provider, medical technology and life sciences markets. With over 4,500 technology professionals worldwide, CitiusTech helps healthcare organizations accelerate innovation through next-generation technologies, solutions, platforms and accelerators in the areas of healthcare interoperability, data convergence, quality & performance analytics, connected health, patient engagement, value-based care, omni-channel member experience, virtual care coordination & delivery, personalized medicine and population health management. With cutting-edge technology expertise, deep domain expertise and a global talent base, CitiusTech helps healthcare organizations reinvent themselves to deliver better outcomes, accelerate growth, drive efficiencies, and ultimately make a meaningful impact to patients.
About SDLC Partners
SDLC Partners is an essential leader of the Pittsburgh technology and business ecosystem. As a consultancy focused on delivering high-performance solutions for connecting business and technology, they have grown into a 350+-person firm, garnering awards and attention from the Pittsburgh Technology Council, the Inc. 5000, the Pittsburgh 100, and E&Y’s Entrepreneur of the Year.
About Fairmount Partners
Fairmount Partners (www.fairmountpartners.com) is an independent merger and acquisition advisory firm focused on emerging growth and middle-market companies. Fairmount helps its clients complete mergers and acquisitions; raise funds for growth, acquisitions and liquidity; and design and improve their corporate development strategies. Fairmount’s clients include successful entrepreneurs, private equity-sponsored enterprises, and global public companies. Since 2003, Fairmount has completed more than 245 transactions, representing over $12 billion in aggregate value, in 20 countries throughout North and South America, Europe, Asia and Australia. For further information, please contact Jonathan Smith at Jonathan.smith@fairmountpartners.com.
