LLR Recaps CareATC


Oklahoma-based Omega Capital and the Oklahoma Life Science Fund announce the recent growth recapitalization of CareATC, Inc. by LLR Partners, a middle market private equity firm in Philadelphia. Terms of the transaction were not disclosed.

Tulsa-based CareATC, Inc. is a technology-driven employee population health management company founded by Ron Woods in 2000. Omega Capital and the Oklahoma Life Science Fund provided the company’s first institutional capital in 2014. Since their investment, CareATC has become one of the nation’s premier employer-sponsored clinic networks and further developed their proprietary population health technology platform.

Employers are contending with skyrocketing costs of providing healthcare to their employees. At the same time, they are seeing a decline in the quality and effectiveness of the traditional primary care model. Through robust, easy-to-use technology and high-quality clinical care, CareATC makes primary care more engaging, convenient and personalized, while helping employers achieve superior health outcomes and significantly lower healthcare costs.

“CareATC is a shining example of what is possible in Oklahoma,” said Jason Martin, President of Omega Capital. “From the visionary founder, to the supportive investors, to the exceptional management team, all of these elements were in Oklahoma and came together to build a successful Oklahoma company with a national footprint.”

Corporations, labor unions and state and local governments across the U.S. rely on CareATC’s shared-site and onsite clinics to provide primary care, preventative health screenings, disease management, referral management and wellness for their employees, helping to improve health outcomes and lower the cost of care. The Company’s purpose-built, proprietary technology platform also delivers analytics to improve clinical decision-making, drive more engaging patient experiences, and give employers better insights into the overall health and wellness of their employee populations.

“The Oklahoma Life Science Fund has been successfully investing in Oklahoma healthcare and life science companies for almost two decades,” said Dr. William Paiva, Managing Partner of the Oklahoma Life Science Fund. “We previously supported CareATC’s CEO, Philip Kurtz, and his management team at another venture. We were confident that between the market opportunity and exceptional team we had a great investment opportunity.”

“CareATC enables employers to deliver accessible and comprehensive primary care, lifestyle coaching and other ancillary healthcare services at little to no cost to their employees with a focus on addressing risk and preventing disease, resulting in a strong return on investment based on improved clinical outcomes,” said Philip Kurtz, CEO of CareATC. “We are heading into the next stage of our development to continue to build a great Oklahoma healthcare company and are grateful for the support of our early Oklahoma-based investors.”

Canaccord Genuity LLC acted as exclusive financial advisor to CareATC. PrayWalker served as legal counsel to CareATC. Morgan Lewis & Bockius LLP served as legal counsel to LLR Partners.

About CareATC, Inc.

CareATC, Inc. is a leading innovator in the employer-sponsored healthcare marketplace. By leveraging groundbreaking technology, CareATC offers customized population health management solutions for employers that reduce healthcare costs by promoting health, preventing disease and providing a shorter path to care. CareATC manages more than 150 clients in 35 states and cares for more than 250,000 patients. Accredited by the Accreditation Association for Ambulatory Health Care Inc., CareATC is based in Tulsa, Oklahoma. To learn more about CareATC, Inc., visit www.careatc.com.

About Omega Capital

Omega Capital is a growth-oriented private equity firm headquartered in Tulsa, Oklahoma. Its inaugural fund, Omega Capital Fund I, L.P., closed in April 2014 with $30 million in commitments. The firm is backed by some of the most prominent entrepreneurs and family offices in the region. The firm seeks to acquire or invest in profitable lower middle market companies in a variety of industry sectors in Oklahoma and surrounding states. In addition to the firm’s own capital, Omega Capital has access to capital from its investor-partners that allows it to pursue a broad range of transactions. To learn more about Omega Capital, visit www.omegacapital.com.

About Oklahoma Life Science Fund

Founded in 2000, the Oklahoma Life Science Fund invests in promising healthcare and life science companies and technologies. Since inception, the Fund has invested in 14 companies, who have collectively attracted over $380 million of venture capital and over $1.5 billion in corporate investment dollars to Oklahoma. This makes OLSF and their portfolio companies the single largest driver of venture capital to Oklahoma. In addition, the Fund has realized five exits and created over 450 jobs with an annual payroll 3x the state average. To learn more about the Oklahoma Life Science Fund, visit www.olsfventures.com.

About LLR Partners

LLR Partners is a middle market private equity firm committed to creating long-term value by growing its portfolio companies. LLR invests in several industries, with a focus on technology, healthcare and services businesses. Founded in 1999 and with more than $3.5 billion raised across five funds, LLR is a flexible provider of capital for growth, recapitalizations and buyouts. For more information about LLR and insights on scaling growth companies, visit www.llrpartners.com.

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