Harris Williams & Co. Advises Milliman Care Guidelines LLC in its Sale to Strategic Buyer Hearst Corporation

  Harris Williams & Co. Advises Milliman Care Guidelines LLC in its Sale to
  Strategic Buyer Hearst Corporation

M&A Trends in Healthcare IT Remain Strong

Business Wire

BOSTON -- December 10, 2012

Harris Williams & Co., a preeminent middle market investment bank focused on
the advisory needs of clients worldwide, announces the sale of Milliman Care
Guidelines LLC (Care Guidelines), a leading provider of evidence-based
clinical decision support software solutions to the healthcare industry, to
Hearst Corporation (Hearst). Harris Williams & Co. acted as the exclusive
financial advisor to Care Guidelines. The transaction closed on December 3,
2012, and was led by Jeff Bistrong, Sam Hendler and Kojo Appenteng from the
firm’s Technology, Media & Telecom (TMT) Group in Boston and Todd Morris and
Andy Dixon from the firm’s Healthcare & Life Sciences (HCLS) Group in San

“The acquisition of Care Guidelines by Hearst illustrates the strong,
continued demand from large diversified technology and media companies for
leading edge HCIT businesses, particularly those with differentiated content
and SaaS delivery solutions,” said Jeff Bistrong, managing director at Harris
Williams & Co.

“Care Guidelines’ solutions are a key enabler of the transition from
fee-for-service to fee-for-value taking place within healthcare,” said Sam
Hendler, a director in Harris Williams & Co.’s TMT Group who leads the firm’s
HCIT practice. “These are fundamental software tools for both payers and
providers as they navigate the ongoing transformation of the healthcare
ecosystem and the expansion of Accountable Care Organizations (ACOs).”

Care Guidelines, based in Seattle, WA, is a wholly-owned subsidiary of
Milliman Inc. The company is the leading provider of evidence-based clinical
guidelines and software that deliver the most efficient and effective plan of
care for patients in need of healthcare treatment. The company’s platform,
used by more than 1,900 clients, including more than 1,200 provider
organizations and seven of the eight largest U.S. health plans, provides
decision support to help payors and providers manage risk and deliver high
quality care at the lowest possible cost.

Milliman is among the world's largest providers of actuarial and related
products and services. The firm has consulting practices in healthcare,
property and casualty insurance, life insurance and financial services, and
employee benefits. Founded in 1947, Milliman is an independent firm with
offices in major cities around the globe.

Hearst is one of the nation's largest diversified media and information
companies. Its major interests include ownership of 15 daily and 36 weekly
newspapers, including the Houston Chronicle, San Francisco Chronicle, San
Antonio Express-News and Albany Times Union; hundreds of magazines around the
world, including Good Housekeeping, Cosmopolitan, ELLE and O, The Oprah
Magazine; 29 television stations, which reach a combined 18 percent of U.S.
viewers; ownership in leading cable networks, including Lifetime, A&E, HISTORY
and ESPN; significant holdings in the automotive, electronic and
medical/pharmaceutical industries; a 50 percent stake in the global ratings
agency Fitch Group; Internet and marketing services businesses; television
production; newspaper features distribution; and real estate.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial
Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank
focused on the advisory needs of clients worldwide. The firm has deep industry
knowledge, global transaction expertise and an unwavering commitment to
excellence. Harris Williams & Co. provides sell-side and acquisition advisory,
restructuring advisory, board advisory, private placements and capital markets
advisory services.

The firm’s TMT Group focuses on software, digital media, IT services, and
communications. Within these segments, the TMT Group focuses on targeted
sectors, including HCIT. For more information on Harris Williams & Co.’s
efforts in TMT, contact Jeff Bistrong at +1 (617) 654-2102, Michael Wilkins at
+1 (415) 288-4260 or Thierry Monjauze at +44 207 518 8900.

The firm’s HCLS Group focuses on transactions across the spectrum of
healthcare market segments. For more information, contact Todd Morris in San
Francisco at +1 (415) 288-4260 or Turner Bredrup, James Clark or Cheairs
Porter in Richmond at +1 (804) 648-0072.

Investment banking services are provided by Harris Williams LLC, a registered
broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd,
which is authorized and regulated by the Financial Services Authority. Harris
Williams & Co. is a trade name under which Harris Williams LLC and Harris
Williams & Co. Ltd conduct business.

For general release inquiries, please contact Kimberly Baker, marketing
director, at +1 (804) 648-0072.


Harris Williams & Co.
Kimberly Baker, Marketing Director
+1 804-648-0072
Press spacebar to pause and continue. Press esc to stop.