D.C. private equity powerhouse The Carlyle Group Inc. (NASDAQ: CG) said Thursday it has reached a deal to acquire McLean health IT firm CNSI Inc. from Greenwich, Connecticut, firm Alvarez & Marsal Capital Partners.
Terms of the deal, which is expected to close this month, were not disclosed.
CNSI CEO Todd Stottlemyer, a longtime D.C.-area executive and philanthropist who was previously chief of Inova Health System’s Center for Personalized Health, will remain in his role leading the company. The deal brings him a reunion with Carlyle, as he previously partnered with the firm as a senior executive at technical services firm BDM International, which was spun off into Carlyle in 1990.
CNSI develops, operates and maintains Medicaid, Medicare and related health claims programs for state and federal clients. It has run programs for the Department of Veterans Affairs, Department of Labor and the Centers for Medicare & Medicaid Services and records about $200 million in annual revenue.…
Read the full story from the Washington Business Journal.
