Halyard Capital

Halyard Capital Announces Sale of Practice Insight

Halyard Capital, a New York based private equity firm, announced today that it has sold its Houston, TX based portfolio company, Practice Insight. The Company is a leading software-as-aservice revenue cycle management platform sold through many of the best-known healthcare IT vendors in North America and utilized by over 60,000 healthcare providers. Terms of the transaction were not disclosed.

Houston Johnson, CEO of Practice Insight, said, “We have appreciated our partnership with the Halyard team who not only provided strategic guidance to help fuel growth over the course of their ownership but also helped navigate this transaction to find a home for the business where it would thrive.”

“We are extremely pleased to have worked with the management team at Practice Insight since 2011 as they’ve built a leading revenue cycle management business”, said Brendyn Grimaldi, Principal of Halyard Capital. “The acquisition gives Practice Insight the opportunity to join a family of companies that will provide the necessary resources to further accelerate growth”, added Grimaldi.

Robert Nolan, Managing Partner at Halyard Capital, added, “We wish the team all the best in the future and we will follow them closely as they continue to innovate in the marketplace.”

The Company was represented by Harris Williams & Co. and received legal advice from Andrews Kurth Kenyon LLP. The sale of Practice Insight represents the seventh significant monetization from Halyard Capital Fund II.

About Halyard Capital

Halyard Capital is a lower middle-market private equity firm focused on creating value within companies in high- growth sectors. Halyard’s sectors of focus include technology-enabled Business and Information Services, Digital Marketing and Data Analytics, IT Security and IT Infrastructure and Communications. The firm specializes in growth equity, leveraged buyouts and structured equity investments and its investment philosophy rests upon its deep understanding of its targeted industries, the development of its investment theses, and its network of executive relationships. For more information about Halyard Capital visit www.halyard.com

About Practice Insight

Practice Insight’s principals have been deeply immersed in providing services to the healthcare industry since 1977. Together they founded Practice Insight in 2003. Since then the company has grown rapidly by providing fast, secure, robust, integrated EDI solutions through its industry-leading proprietary software, EDIinsight. Practice Insight brings the power of EDIinsight to more than 100 different practice management software brands, and has partnered with many of the best-known healthcare IT vendors and resellers in North America. More than 60,000 providers in all 50 states rely on the power of Practice Insight’s technology. For more information about Practice Insight visit www.practiceinsight.net

Halyard Capital Forms Cable Broadband Platform NuLink

Purchases Cable Assets from Newnan Utilities for $70 Million

NEW YORK--(BUSINESS WIRE)--Halyard Capital (“Halyard”), a New York-based private equity firm, in partnership with cable veteran John Brooks, announced today the formation of NuLink and the acquisition of cable assets from Newnan Utilities, a municipally-owned utility based in Newnan, GA, for $70 million. The transaction closed April 21.

The acquisition provides NuLink a platform in Coweta County, GA, a demographically attractive and high-growth region approximately 40 miles southwest of Atlanta. Newnan Utilities has developed a strong competitive position through first-rate customer service and a state-of-the-art network.

NuLink’s growth strategy includes capitalizing on the region’s continued growth, revitalizing the company’s marketing campaigns and launching new products, including video-on-demand and a digital telephony product. The introduction of a digital telephony product will enable NuLink to create a video, high-speed data and voice “triple play” package that will provide significant savings to the company’s customers. NuLink, with leadership from Chairman and CEO John Brooks, will also look to grow the company through strategic acquisitions.

“This acquisition provides a strong base for the NuLink strategy,” said Brooks. “I am very happy to be partnering with Newnan’s talented employees, who have built a strong company that is a key part of the community, and I am confident we can continue to build the business by introducing new products while maintaining and strengthening our commitment to excellent service.”

Brooks has over 24 years of cable broadband experience. He previously served as Executive Vice President of Broadstripe (formerly Millennium Digital Media), a company he co-founded in 1998. Prior to Broadstripe, Brooks was a co-founder and senior executive of Brooks Fiber Properties, a leading provider of competitive telecommunications services across the United States. He began his career at Cencom Cable Associates, a St. Louis-based cable MSO with over 550,000 subscribers in 16 states.

“We look forward to partnering with John Brooks and believe his experienced leadership will contribute to the company’s continued success. NuLink has achieved a local market leadership position and is well positioned for further growth,” stated Michael Furey, a principal at Halyard.

Bruce Eatroff, partner at Halyard, added: “Halyard has been seeking an investment in a fully upgraded cable system in a high growth market and we are excited to be acquiring the cable assets of Newnan Utilities. We will continue to invest in the company’s infrastructure to deliver a premium customer experience.”

Halyard Capital received legal counsel from Hogan & Hartson LLP. CIT Lending Services Corporation, Newstar Financial and Wells Fargo Foothill provided financing for the transaction.

About Halyard Capital

Halyard Capital is a New York-based private equity firm with over $600 million of capital under management, focused on investing opportunities within the media, communications and business services industries. Halyard specializes in middle-market leveraged buyouts and growth equity investments. The firm has extensive experience and a proven track record within each of these sectors with recent investments including HCPro, Engauge, Presidio Networks and Education Dynamics. The firm’s investment funds will commit up to $40 million to individual portfolio companies. Additional information regarding Halyard’s strategy, principals and investments can be found at www.halyard.com.

About Newnan Utilities

Newnan Utilities is a municipally-owned utility, located approximately 40 miles southwest of Atlanta and composed of five divisions offering electricity, water, sewer, cable and telecommunications services to the residents of Newnan, Georgia, Coweta County and surrounding communities. The Newnan Water, Sewerage and Light Commission, a component of the City of Newnan, currently manages the operations of the Utility. Newnan Utilities launched its fiber network in 1995 and began offering cable and high-speed Internet services two years later. Newnan Utilities was the first cable company in Georgia to offer DVR functionality and was also one of the first systems to offer HD services. For more information, please visit the Newnan Utilities website at www.newnanutilities.org.


Halyard Capital
Bruce Eatroff, 212-554-2145
Michael Furey, 212-554-2129
For Media:
CJP Communications
Brian Hickey, 212-279-3115 ext 245