KippsDeSanto & Co. is pleased to announce the sale of our client, Edaptive Systems, LLC (“Edaptive” or the “Company”) to ManTech International Corporation (“ManTech”). This deal closed December 15th and marked KippsDeSanto & Co.’s fourth healthcare-related transaction of 2016.
Headquartered in Owings Mills, MD, Edaptive is a leading provider of Federal healthcare IT (“HIT”), serving primarily, the Centers for Medicare and Medicaid Services (“CMS”). Over the last 17 years, Edaptive has delivered priority solutions around software engineering, data abstraction, and business intelligence, that align with its customers’ core initiatives and programs. The Company has developed trusted relationships across well-funded health agencies and departments. Leveraging its past performance and reputation for efficiently solving complex technical challenges, the Company recently captured a prime position on the $25 billion indefinite delivery, indefinite quantity (“IDIQ”) CMS Strategic Partners Acquisition Readiness Contract (“SPARC”).
This acquisition augments ManTech’s IT capability set and footprint at CMS. The investment further enhances ManTech’s competitive position to capitalize on mission opportunities at CMS and HHS more broadly. We believe this transaction demonstrates several key trends in the government services M&A environment:
- Continued strong strategic interest around HIT, the technology capabilities in the HIT ecosystems, and the customers (e.g., HHS, VA, military health) that support those well-funded missions
- Attractiveness of scalable IT capabilities, both next generation and more traditional
- Strategic buyer interest for highly focused firms, possessing a clear identity and track-record from a customer and / or capability perspective
KippsDeSanto & Co. is an investment bank focused on delivering exceptional M&A and financing transaction results for leading aerospace, defense, and government technology companies. For more information on KippsDeSanto & Co., please visit www.kippsdesanto.com.
KippsDeSanto & Co., member FINRA / SIPC, is not affiliated with other companies mentioned herein