Managed care nonprofit CareSource has announced that it has purchased The Columbus Organization, which is a provider of services to individuals with conditions such as intellectual and developmental disabilities (I/DD).
CareSource acquired The Columbus Organization from private equity firm HealthEdge Investment Partners, with TripleTree, LLC acting as the exclusive financial advisor in the transaction for the I/DD provider. Terms of the deal were not made available.
Headquartered in Blue Bell, Pennsylvania, The Columbus Organization serves over 100,000 individuals across 13 states. Services are provided by a range of professionals such as psychologists, psychiatrists, board certified board analysts, licensed social workers and physicians.
The Columbus Organization also provides clinical contracting and quality improvement services for other behavioral health organizations, and is federally certified as a Quality Improvement Organization by the Centers for Medicare and Medicaid.
Founded in 1984, The Columbus Organization has assisted more than 140 state and local agencies throughout its history in over 40 states and Washington, D.C.
“Becoming part of CareSource is an exciting milestone for The Columbus Organization and is a testament to the unmatched quality, innovation and passion that the company has consistently delivered to the individuals, families and organizations we serve,” Jeff Klimaski, the CEO of The Columbus Organization said in a press release issued by CareSource. “With our shared mission and combined strengths, this sets us on a trajectory for exponential growth over the next few years and will enable us to bring our person-centered approach to more people.”
The deal for The Columbus Organization marks the first major purchase for Dayton, Ohio-based CareSource, which was founded in 1989. CareSource administers one of the nation’s largest Medicaid managed care plans and serves 2 million members in Ohio, Georgia, Indiana, Kentucky and West Virginia.
“CareSource is committed to being a leader in this area and we are building the infrastructure, talent and programs to address this unmet need,” CareSource President and CEO Erhardt Preitauer said in the press release. “Acquiring a well-respected company like The Columbus Organization extends that commitment.”
The Columbus Organization employs over 500 workers, all of whom will remain with the provider as it becomes a standalone company within CareSource.
“We have a shared passion for serving complex populations and putting members first,” Preitauer added in the press release. “Together we can do even more to change the future for a vast population of people who have historically been underserved.”