Sheridan Capital Partners has made an investment in SimiTree Healthcare Consulting, a strategic and equal combination of Simione Healthcare Consultants and BlackTree Healthcare Consulting. SimiTree seeks to assist post-acute healthcare organizations with consulting, outsourcing, and talent solutions. Sheridan invested alongside SimiTree’s management team, who have retained meaningful ownership in the business.
“We have significant conviction in the long-term trends in the post-acute market,” said Sean Dempsey, partner at Sheridan Capital Partners. “We’ve long been impressed with the work of Simione, BlackTree and their accomplished teams.”
David Berman, managing principal of SimiTree, said, “The transformative partnership with Sheridan will allow the Company to expand its capabilities and scale rapidly while continuing to deliver key services and solutions to clients.”
“Sheridan is pleased to partner with SimiTree to support the new company as it scales, delivering an excellent experience to even more post-acute healthcare organizations,” said Chris McCrory, principal at Sheridan.
The transaction was led by Dempsey, McCrory, Jonathan Lewis, Matt Hinshaw and Addison Jones at Sheridan Capital Partners. Twin Brook Capital Partners provided debt financing for the transaction. McDermott Will & Emery LLP served as legal counsel to Sheridan Capital Partners. Brentwood Capital Advisors LLC and Robinson & Cole LLP served as financial advisor and legal counsel, respectively, to the Company. Financial terms of the transaction were not disclosed.