CareSource Acquires Leading Provider of Services for Complex Populations
Acquisition of The Columbus Organization expands commitment to serving individuals with intellectual/developmental disabilities (IDD) and behavioral health challenges
Erhardt Preitauer
CareSource President & CEO
DAYTON, Ohio, Nov. 19, 2021 (GLOBE NEWSWIRE) — CareSource, a nationally recognized nonprofit managed care organization, has acquired The Columbus Organization, a leading provider of services for individuals with intellectual/developmental disabilities (IDD) and behavioral health challenges.
The Columbus Organization has three business lines: Care Coordination, Professional Clinical Staffing and Quality Improvement Services and serves over 100,000 individuals across 13 states. The company is headquartered outside of Philadelphia, Pennsylvania and has more than 580 employees across the U.S. Since 1984, The Columbus Organization has assisted more than 140 state and local agencies in over 40 states and the District of Columbia to help solve staffing and programmatic problems. Many of these agencies faced challenging regulatory, certification and litigation issues. In every instance, The Columbus Organization achieved positive outcomes.
“Serving individuals with complex needs is at the heart of our mission. There has never been a greater need to drive innovation to better serve this population. CareSource is committed to being a leader in this area and we are building the infrastructure, talent and programs to address this unmet need,” said Erhardt Preitauer, President & CEO, CareSource. “Acquiring a well-respected company like The Columbus Organization extends that commitment. We have a shared passion for serving complex populations and putting members first. Together we can do even more to change the future for a vast population of people who have historically been underserved.”
This is CareSource’s first major acquisition and marks another significant step forward in its current growth phase. In 2021 CareSource earned a contract to continue serving Ohio Medicaid members, received approval from Arkansas to participate in the Provider-Led Arkansas Shared Savings Entity (PASSE) program serving Arkansans with complex behavioral health and individuals with intellectual and developmental disabilities, submitted a bid to renew its Indiana contract and announced plans to bid in Iowa’s upcoming Medicaid procurement.
“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,” said Jeff Klimaski, CEO, The Columbus Organization. “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.”
While The Columbus Organization will become part of the CareSource family of companies, it will operate as a standalone company within CareSource and continue to serve its current customers across the U.S. The company’s 500+ employees will continue as employees of The Columbus Organization. Previously, The Columbus Organization was owned by HealthEdge Investment Partners, a Tampa, FL-based private equity fund focused exclusively on investing in healthcare businesses. TripleTree, LLC acted as the exclusive financial advisor to The Columbus Organization for this transaction.
About CareSource
CareSource is a nonprofit, multi-state health plan recognized as a national leader in managed care. Founded in 1989, CareSource administers one of the nation’s largest Medicaid managed care plans and offers a lifetime of access to care through health insurance, including Medicaid, Health Insurance Marketplace, Medicare Advantage and dual-eligible programs. Headquartered in Dayton, Ohio, CareSource serves 2 million members in Georgia, Indiana, Kentucky, Ohio and West Virginia. CareSource is also a partner in CareSource PASSE, which has been approved as a new option for the Provider-Led Arkansas Shared Savings Entity (PASSE) Program for Arkansans with complex behavioral health and individuals with intellectual and developmental disabilities. CareSource understands the challenges consumers face navigating the health system and is transforming health care with industry-leading programs that improve the health and well-being of our members.
For more, visit www.caresource.com, follow @caresource on Twitter, or like CareSource on Facebook.
About The Columbus Organization
The Columbus Organization empowers individuals to realize their meaningful–life goals through nationally recognized care/support coordination, professional clinical staffing, and quality improvement services for the intellectual/developmental disability (I/DD) or behavioral needs community. The Company delivers an unmatched depth of expertise, breadth of resources, diversity of thinking, and dedication to finding the most appropriate, personalized solutions for its customers.
For more, visit www.columbusorg.com, follow @TheColumbusOrg on Twitter, like The Columbus Organization on Facebook or connect with The Columbus Organization on LinkedIn.
About HealthEdge Investment Partners
HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience, and network of relationships of its partners. HealthEdge’s partners have more than 100 years of combined experience in healthcare as operating executives and investors.
For more, visit www.healthedgepartners.com or connect with HealthEdge on LinkedIn.
Attachment
CONTACT: Joseph Kelley CareSource 513-509-8466 joseph.kelley@caresource.com
