Chicago, IL, July 19, 2010
– Waud Capital Partners (“WCP”), a leading middle-market private equity firm, today announced that it has entered into a partnership with Mike Jacoutot and Mary Ann McLaughlin to form Optimum Outcomes Healthcare Management, LLC (“Optimum Outcomes” or the “Company”). Optimum Outcomes will focus on helping healthcare providers contain costs and realize operating efficiencies by creating a leading healthcare business process outsourcing company through a series of acquisitions and organic growth. To establish a platform, Optimum Outcomes is looking to acquire a company with revenue of up to $100 million within the healthcare business process outsourcing sector focused on clinical practice management or revenue cycle management.
WCP has initially committed $40 million to Optimum Outcomes. Mr. Jacoutot will serve as Chief Executive Officer and Ms. McLaughlin as Chief Operating Officer, and both will serve as members of the Company’s board of directors. They will be joined by Steve Warner, who will serve as Senior Vice President, Corporate Development.
Mr. Jacoutot was most recently President and Chief Executive Officer of Supplemental Health Care, where, while under his direction, the company doubled its revenue and quadrupled its EBITDA in five years to become one of the largest healthcare staffing companies in the United States. Prior to joining Supplemental Health Care, Mr. Jacoutot was Managing Director of Operations and Chief Marketing Officer at Randstad North America where he was responsible for the $500 million staffing division and was Vice President of Sales, Marketing and Customer Service at Standard Register where he was responsible for the $1 billion document management business.
Prior to joining Optimum Outcomes, Ms. McLaughlin was President of Supplemental Health Care’s largest division, the Local Nursing and Allied group. In her leadership position, Ms. McLaughlin was responsible for 38 offices in 25 states. She developed and implemented several initiatives around both client/talent acquisition and retention that significantly improved operating performance and profitability. Ms. McLaughlin also previously held positions at Randstad North America and Standard Register.
Mr. Warner was most recently a Principal at a Chicago-based private equity firm, where he focused on the healthcare services and healthcare business process outsourcing sectors. Previously, Mr. Warner led the healthcare private equity practice for a unit of GE Capital, leading growth equity and buyout investments in middle-market companies, including backing Mr. Jacoutot and Ms. McLaughlin at Supplemental Health Care.
“Given the growing emphasis on improving efficiency and managing costs within the healthcare industry, we believe this is the opportune time to build a healthcare business process outsourcing platform,” Jacoutot said. “My team and I have achieved tremendous success previously in the healthcare outsourcing industry, and we look forward to working with Waud Capital to build Optimum Outcomes into an industry leader.”
“After meeting with a number of private equity firms who supported our investment thesis, we were impressed by Waud Capital’s significant healthcare experience and the firm’s prior success with similar management-led acquisition initiatives,” added McLaughlin.
“Mike and Mary Ann are dynamic leaders who can effectively motivate their teams to drive growth and operational improvements across large organizations,” said David Neighbours, Partner at WCP. “Our financial commitment underscores Waud Capital’s strategy to partner with successful executives to build market-leading companies in specific business niches.”
About Optimum Outcomes
Optimum Outcomes was formed by WCP to acquire a company with revenue of up to $100 million within the healthcare business process outsourcing sector focused on clinical practice management or revenue cycle management.
For additional information on Optimum Outcomes, visit the Company’s website at www.optimumoutcomeshcm.com.
About Waud Capital Partners
WCP is a leading middle market private equity investment firm founded in 1993 that partners with exceptional management teams to invest in middle market growth equity investments, industry consolidations, buyouts and recapitalizations. The firm seeks to invest $10 million to $100 million in private companies in the following four areas: healthcare services, business and consumer services, specialty distribution and value-added industrial businesses. Typically, the companies in which WCP invests have enterprise values between $30 million and $300 million.
For additional information on WCP, visit the firm’s website at www.waudcapital.com.
For Further Information:
Steve Warner, Senior Vice President, Corporate Development
Tel: (312) 676-8441
David Neighbours, Partner
Waud Capital Partners
Click to View