Council Capital Enters Strategic Partnership With OccMD
April 29 2024 - 6:01AM
Business Wire
Council Capital, a prominent healthcare-focused private equity
firm, has partnered with OccMD, LLC, a physician-led medical and
nurse case management company that gets better medical outcomes for
injured workers at a fair cost for employers and other payers.
Terms of the transaction, which closed on March 20, 2024, were not
disclosed.
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“We were attracted to OccMD’s differentiated business model of
physician-led medical and nurse case management within the workers’
compensation and Texas injury benefit plan space,” said Grant
Jackson, Managing Partner of Council Capital.
Based in Dallas, OccMD provides medical management services for
organizations whose employees have complex work-related injuries or
illnesses. Physician medical directors, led by OccMD Founder and
Chief Medical Officer Melissa D. Tonn, MD, create and oversee
evidence-based treatment plans and nurse case management programs.
OccMD provides timely access to, and accountability from, highly
qualified specialists, which helps to promote recovery.
“For decades, we’ve seen this approach produce excellent
outcomes for injured workers and billions of dollars in cost
savings for employers and their insurance carriers,” said Dr. Tonn.
“Our clients and their employees report high levels of
satisfaction, and we are thrilled to collaborate with Council
Capital on the next steps in our journey.”
Council Capital’s investment will be used to scale OccMD’s
services and introduce them into more states and lines of insurance
business. The firm has expanded OccMD’s board of directors and
leadership team, including the addition of two of Council Capital’s
CEO Council Members, who are proven veterans of workers’
compensation managed care: Chris Feeney and Dr. Kenneth Hannigan.
PMPK, LLC, an investment and consulting firm led by Feeney and
Hannigan, also assisted in the transaction.
“One of the reasons we decided to partner with Council Capital
was to access the wealth of healthcare and workers’ comp industry
knowledge and support found in its CEO Council,” Dr. Tonn said.
ABOUT OCCMD Based in Dallas, Texas, OccMD was founded in
2000 by Melissa D. Tonn, MD, one of the most respected and highly
credentialed occupational medicine physicians in America. OccMD
offers an array of workers’ compensation and injury benefit
services that include medical case management, physician-led nurse
case management, independent medical exams (IME), peer reviews, and
medical provider networks across several states. In addition to
providing daily, clinical oversight and support on occupational
injuries, Dr. Tonn and her team deliver education, training and
published research.
ABOUT COUNCIL CAPITAL Council Capital is a
healthcare-focused private equity firm based in Nashville,
Tennessee. The firm invests in lower middle-market healthcare
companies ($10-100M enterprise value) positioned on the “right side
of change” in the healthcare industry, where growth aligns with
increasing cost pressure and quality demands. Council Capital’s
unique model supports management teams in business growth by
leveraging the relationships and resources of its CEO Council,
Strategic Healthcare Investors, and Value Creation Team.
The Council network, anchored by its CEO Council of 34 senior
private and public sector executives who have personally invested
over $140M in Council Capital funds, maintains direct relationships
with payers, providers, and employers, representing more than 60%
of the country’s managed care lives, numerous provider
organizations, and millions of self-insured lives.
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