Chartis, a leading healthcare advisory firm, announced that it has entered into a definitive agreement to receive a majority investment from funds managed by Blackstone (”Blackstone”).
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This strategic investment will support the firm’s continued growth as a leading advisor to providers, payers, technology innovators, retail companies, and investors who are making positive and transformative changes within US healthcare. The investment includes continued equity participation from Audax Private Equity (“Audax”).
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Blackstone is investing in Chartis through its core private equity strategy, which partners with high-quality, market-leading businesses for longer periods than traditional private equity. The investment will enable Chartis to further extend its capabilities across its strategic, digital, technology, clinical, and financial transformation offerings for healthcare clients. This funding is also anticipated to help further expand the full Chartis family of companies, currently including HealthScape Advisors, Jarrard, and Greeley.
“Chartis was founded with the mission to help clients fundamentally improve healthcare delivery across the United States. Over the past 23 years, since our inception, great strides have been made. Looking to the future, we are excited to do even more. Blackstone shares our commitment to supporting industry leaders across the healthcare landscape as they strive to make care in the US more accessible, more affordable, more reliable, more equitable, and more human for patients and caregivers,” say co-founders Ken Graboys, CEO of Chartis, and Ethan Arnold, Managing Partner.
“Blackstone’s expertise, scale, and resources align well with Chartis’ transformative vision for the future of the industry,” said Greg Maddrey, President of Chartis. “This investment will provide us with the resources to grow our organic offerings, expand our capabilities, and further enhance our infrastructure. We are excited about the future and confident that this partnership will help us enable our clients to reshape healthcare for the better.”
Since Audax’s 2019 investment, Chartis has acquired and integrated seven add-on acquisitions, expanding the firm into complementary capabilities and new end markets. During this period, Chartis has also established several new centres for research and advancement, which contribute to better understanding and addressing healthcare where it is most vulnerable.
The transaction is expected to close by the end of 2024, subject to customary closing conditions and regulatory approvals. Terms of the transaction were not disclosed. Lincoln International LLC and BofA Securities served as financial advisors, and Ropes & Gray and Winston & Strawn LLP served as legal counsel to Chartis and Audax Private Equity. Goldman Sachs served as a financial advisor, and Kirkland & Ellis served as legal counsel to Blackstone.
About Chartis
The challenges facing US healthcare are longstanding and all too familiar. Chartis work with more than 900 clients annually to develop and activate transformative strategies, operating models, and organisational enterprises that make US healthcare more affordable, accessible, safe, and human.
With more than 1,000 professionals, we help providers, payers, technology innovators, retail companies, and investors create and embrace solutions that tangibly and materially reshape healthcare. Our family of brands—Chartis, Jarrard, Greeley, and HealthScape Advisors—is 100% focused on healthcare, and each has a longstanding commitment to helping transform healthcare in big and small ways.
