September 28, 2022

Accrete Health Partners, a strategic holding company launched by Bon Secours Mercy Health last month, has made its first deal with the acquisition of Nordic Consulting Partners, a Madison, WI-based health and technology consulting firm.

The deal will see private equity firm Silversmith Capital Partners exit its stake in Nordic, which it took in 2016. In the last six years, Nordic bolted on five firms, including Healthtech, a Canada-based health IT consultancy in 2019; Bails, a Pennsylvania-based ERP consultancy in 2021; and S&P Consultants, a Massachusetts-based health IT consultancy in 2021.

Nordic today has more than 1,900 employees in North America, Europe, and the Middle East and provides services in strategic advisory, project management, EHR and ERP implementation, digital and cloud initiatives, and enterprise technology transformation.

The firm works with 600+ clients globally and has deep expertise with the healthcare industry’s leading EHR and ERP systems, including Epic, Cerner, Meditech, and Infor.

Accrete Health Partners acquires Nordic Consulting Partners

The Nordic team will join Accrete, which Bon Secours launched last month to develop and acquire digital health products, services, and technologies. The Cincinnati-based ministry is the fifth-largest Catholic health system in the US and the largest not-for-profit private healthcare provider in Ireland, with 1,200 care sites and 60,000 employees.

Financial terms of the transaction were not disclosed.

“This partnership advances Accrete’s core objectives of working with industry leaders to pioneer solutions that improve health care quality and cost effectiveness,” said Jason Szczuka, leader of the Accrete team. “Technology should be more useful for caregivers and more cost-beneficial for health systems, and Nordic leads the industry in these areas. It will now be positioned to have an even greater impact for its clients.”

Jim Costanzo, CEO at Nordic Consulting, added, “This deal will help us bring our clients innovative solutions at a faster pace and grow our world-class team, so we can better serve them as they navigate the increasingly complex health care industry. We’ve seen incredible momentum in 2021, and we’re excited about continuing that growth as part of Accrete’s portfolio.”

Nordic was advised by Morgan Lewis and Guggenheim Securities. Financial terms of the transaction were not disclosed.

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