NASHVILLE, Tenn.--(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.
“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.
