Avesi Partners Announces Investment in Visante
STAMFORD, Conn., Feb. 12, 2024
STAMFORD, Conn., Feb. 12, 2024 /PRNewswire/ -- Avesi Partners ("Avesi") announced that it has made an investment in Visante (or the "Company"), a leading provider of specialized tech-enabled consulting and advanced partnership services focused on helping health systems accelerate financial and operational performance through their pharmacy offerings. Avesi has partnered alongside the existing management team to support Visante's overall mission of positively transforming healthcare through pharmacy, with a specific emphasis on the specialty and infusion pharmacy markets.
Headquartered in St. Paul, Minnesota, Visante serves as a trusted partner to health systems across the U.S., enabling clients to optimize their pharmacy operations and utilize pharmacy as a strategic asset in the health system's overall goal of providing the highest quality of care possible to patients. Visante's team of professionals brings deep, contemporary, and innovative expertise to clients across key areas within the pharmacy enterprise, including specialty pharmacy, infusion strategy, 340B performance, supply chain optimization, and pharmacy revenue cycle management. Visante currently partners with over 130 health systems across 45 states leveraging the Company's unique combination of tech-enabled data analytics and assessment capabilities, financial acumen, implementation expertise, and ongoing operational support.
"We believe passionately in the work we're doing for our clients," said Steve Rough of Visante. "Avesi is the perfect partner for us, as they understand the mission component of our business and the nuances that make Visante special. Their support in continuing to invest in our culture, people, service reach and breadth of offering will be critical to driving Visante's ongoing success."
"We see a tremendous opportunity for our clients and team members over the next phase of Visante's growth," added Phil Brummond of Visante. "Avesi's experience and track record in both healthcare and business services will be invaluable as we further scale our business. The future has never been more exciting for Visante as we seek to expand our solutions for customers."
"Over the last 25 years, Visante has built an incredible business and reputation in the pharmacy space thanks to its team of passionate and driven individuals, differentiated culture of growth and professional development and exceptionally high value-add for clients," said Chris Laitala, Managing Partner at Avesi. "We look forward to working alongside the management team in the coming years to positively impact as many health systems as possible."
In conjunction with the transaction, Visante has announced a series of internal executive promotions to further support the growth of the business: Steve Rough to CEO, Phil Brummond to President, Joe Cesarz to Managing Partner, and Jerame Hill to Managing Partner. Jim Jorgenson, who has been the CEO of Visante for the past ten years, will continue his involvement with the Company as a strategic advisor and meaningful shareholder. "I could not be more excited for Visante and what lies ahead," said Jorgenson. "We have been working towards this leadership transition ever since we brought Steve, Phil, Joe, and Jerame into the organization three years ago. The growth Visante has experienced over the last few years, the leadership roles these individuals have played in helping drive the Company to this point, and our collective vision for the future alongside our new partner, Avesi, make this moment the logical time for a smooth and seamless transition. I look forward to my continued involvement with and support of Visante over the next chapters of growth."
Steve Rough added, "Jim has provided incredible stewardship to Visante, fostering a best-in-class culture for our team and developing cutting-edge solutions for our clients to enable them to maximize the potential of their pharmacy programs. We are tremendously grateful for his contributions to the company and deeply admire the impact he has made on the pharmacy profession and so many of our country's hospitals and health systems."
Madeira Partners and Taft Stettinius & Hollister served as financial and legal advisor, respectively, to Visante. TripleTree, Crutchfield Capital, and McDermott, Will & Emery served as financial advisors and legal advisor, respectively, to Avesi.
Visante is a specialized consulting firm focused on helping health systems accelerate strong financial and operational performance through pharmacy. The Company's team of professionals brings deep, contemporary expertise and innovation to optimizing all aspects of a fully integrated health system pharmacy program, driving significant value quickly. By providing customized solutions to fit the needs of hospital and health system clients, Visante deliver sustained financial results through revenue growth, cost savings, assured compliance, and optimal business performance. www.visanteinc.com
About Avesi Partners
Avesi Partners is a leading private equity investment firm with $883 million of equity capital under management. Based in Stamford, CT with an office in Richmond, VA, Avesi focuses on partnering with lower-middle market, privately-held, and family-owned businesses in key sectors of the economy, primarily focused on healthcare services but also investing in the insurance, technology, and business services sectors. Avesi seeks to provide the expertise and resources to empower businesses to attain their full vision in a time and capital efficient manner. Avesi collaborates with families, founders, and executives in an effort to accelerate growth and expansion, while positioning businesses to achieve long-term success and enduring value. Additional information is available at avesipartners.com.
SOURCE Avesi Partners