06/03/2015
WALNUT CREEK, CA – June 3, 2015 – Paradigm Outcomes, the nation’s leading provider of complex medical management services, today announced that Lightyear Capital has sold the portfolio company to Summit Partners. The transaction closed on June 2, 2015.
Paradigm will continue to operate independently under the leadership of Chairman and Chief Executive Officer Jim Hudak. Mr. Hudak remains responsible for the organization’s strategic direction and retains his position on the Paradigm Board of Directors. Summit Partners’ Managing Director Darren Black and Vice President Ross Stern will join the board, along with Paradigm Chief Financial Officer and Chief Administration Officer Tom Mastri.
“We are excited to work with Summit Partners,” said Hudak. “Not only do they recognize Paradigm’s track record of consistently achieving better medical and financial outcomes for severely injured workers, but they see our innovative model leading to future growth. I’m eager to collaborate on Paradigm’s future.”
“With decades of experience investing in the healthcare sector, we see tremendous opportunity for Paradigm,” said Black, “and we are excited to partner with their deep management team for the company’s next chapter.”
About Paradigm Outcomes
Paradigm Outcomes provides acute and ongoing catastrophic and complex case management services for acquired brain injuries, spinal cord injuries, multiple traumas, amputations, burns and chronic pain. As the nation’s leading provider of complex and catastrophic medical management in the workers’ compensation industry, Paradigm achieves 5x better medical outcomes and lowers total costs by 40%. Paradigm accomplishes this by bringing together nationally recognized doctors, nurses and specialists, the best network of care facilities in the country, and more than 20 years of clinical data to guide decisions. For more information, visit www.paradigmcorp.com.
About Summit Partners
Founded in 1984, Summit Partners is a growth equity firm that has raised more than $16 billion in capital. Summit has invested in more than 400 companies in healthcare, technology and other growth sectors. These companies have completed more than 135 public offerings, and more than 150 have been acquired through strategic mergers and sales. Notable healthcare companies financed by Summit Partners include American Dental Partners, AmeriPath, HealthCare Partners, Independent Vetcare, Lincare, National Veterinary Associates, MEDNAX, My Dentist and Solutionreach. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, visit www.summitpartners.com.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.
