PMCF Announces Sale of Ancor Information Management’s HealthLOGIX Business
Oct 30, 2015
Chicago, Illinois and Southfield, Michigan – October 2015 – P&M Corporate Finance (“PMCF”) is pleased to announce that it served as the exclusive financial advisor to Ancor Information Management, LLC (“Ancor”) in the sale of its HealthLOGIX business (“HealthLOGIX” or the “Business”) to Dialog Direct, a portfolio company of Glencoe Capital.
HealthLOGIX is a premier outsource provider of ID card personalization, digital printing, fulfillment and high volume mailing focused on serving health and dental insurance plans nationwide. The Business offers a full suite of solutions including membership and enrollment documents, ID cards, marketing communications, claims and financial forms, and ANOCs. The Business is nationally recognized as a trusted high-quality supplier, capable of supporting complex membership programs in a flexible manner.
“Dialog Direct is professional organization, and Glencoe/Dialog Direct’s investment in HealthLOGIX serves as recognition of the reputation HealthLOGIX has built over the past decade,” said Steve Chapman, Chairman of Ancor. “Preserving the jobs of our HealthLOGIX employees was of paramount importance – Dialog Direct’s willingness to employ every HealthLOGIX employee who wanted a job was key to our decision to partner with them. The management team of HealthLOGIX is looking forward to leading the Business into the next phase of its growth trajectory with Dialog Direct, while continuing to serve our customers with the best quality and service in the industry.”
PMCF was hired by Ancor’s shareholders to serve as its exclusive investment banker and lead the sale process of HealthLOGIX. Mr. Chapman noted, “We hired PMCF because of our long-term relationship with the firm and their track record of success in the middle market. They assisted us in finding a buyer for HealthLOGIX who preserved the job of every employee of the HealthLOGIX, and allowed the shareholders to realize the appropriate value for the Business. We are very pleased with the outcome of the deal.”
The transaction closed in July 2015.