Kaufman Hall Acquires Change Healthcare’s Analytics Explorer, Performance Manager and Other Data Capabilities to Create the Industry’s Most Robust EPM Software, Data and Analytics Platform

Kaufman Hall Software is now Syntellis Performance Solutions

CHICAGO – May 4, 2020 – Kaufman, Hall & Associates, LLC (“Kaufman Hall”), a leading provider of enterprise performance management (EPM) software, data and management consulting solutions, and Change Healthcare (Nasdaq: CHNG), a leading independent healthcare technology company, today announced that Kaufman Hall has acquired Change Healthcare’s Analytics Explorer, Performance Manager and other data solutions, collectively referred to as Connected Analytics, and combined them with Kaufman Hall Software.

The combined strengths of these two market leaders will create the industry’s most robust enterprise performance management software, data and analytics platform for hospitals and health systems. Healthcare organizations can elevate their financial and clinical performance by leveraging these comprehensive solutions, while Kaufman Hall Software’s higher education and financial institution clients will simultaneously benefit from a strengthened platform for continued future growth and investment. This acquisition also further enhances Kaufman Hall Software’s healthcare industry expertise, and subject matter expertise in data and analytics which will benefit its broad portfolio of clients.

“This acquisition comes at a pivotal time for our clients, as the nation experiences rapid change and uncertainty,” said Wes Champion, managing director and chief executive officer of Kaufman Hall. “Now more than ever, clients need reliable and actionable data and insights to help execute what’s needed today and model the future. Building on the strengths of Kaufman Hall Software’s current data solutions, the addition of the Connected Analytics capabilities will provide clients with unparalleled analytics and insights to help them navigate through this unchartered territory.”

By combining the significant industry expertise and data solutions of both organizations, Kaufman Hall Software will offer clients expanded and integrated reporting, data and analytics tools, a more robust set of dashboards that deliver actionable insights, more powerful data acquisition capabilities and deeper product and industry expertise.

Clients will benefit from a suite of sophisticated, flexible solutions that empower finance professionals to analyze results, model the future, and optimize organizational decision making. These include long-range planning, budgeting and forecasting, performance reporting, capital planning and cost accounting solutions that deliver decision support, reporting and analytics within an integrated platform.

“The acquisition of these powerful solutions provides our healthcare clients with greater access to industry insight that only comes from our dedicated service to the country’s top health systems and hospitals,” said Kermit S. Randa, chief executive officer of Kaufman Hall Software. “Our mutual clients will be able to leverage our proven, integrated and easy-to-use EPM software, data and analytics solutions to model changing scenarios, manage shifting forecasts and budgets, improve efficiencies and outcomes, reduce cost, and grow profitably in this ever-changing healthcare environment. By combining the collective strengths of Kaufman Hall Software with Analytics Explorer, Performance Manager and other important data solutions, we are even better positioned to empower organizations to elevate their financial and clinical performance through data-driven decisions that lead their organizations to sustainable success.”

"During the last decade, the healthcare industry has been evolving to become more efficient and patient focused," said Paula Claytore, senior vice president at Ballad Health. "This evolution has taught us to place greater emphasis and value on data-driven insights. Today, as we continue to battle the COVID-19 pandemic, data and analytics are again key tools to navigating the crisis and preparing for recovery. Ballad Health is fortunate to use both Change Healthcare's Connected Analytics solutions and the Axiom solutions by Kaufman Hall Software. The combination of these tools, along with the impeccable timing, will provide us with added insights, efficiencies and other benefits as we emerge from this pandemic. This investment in innovation comes at a time when healthcare needs it the most."

More than 300 healthcare organizations use the Connected Analytics solution set, including blue-chip organizations and many of the largest health systems in the United States. Kaufman Hall, for its part, is a trusted partner to more than 3,000 healthcare, higher education and financial institution organizations, including four of the top five U.S. health systems.

“The acquisition of Connected Analytics further enhances Kaufman Hall’s software product offerings, which continue to be invaluable to our clients during these unprecedented times,” said Jason Shideler, managing director at Madison Dearborn Partners, the majority owner of Kaufman Hall. Will Ritchie, a director at Madison Dearborn Partners added “We look forward to continuing to partner with Kermit and the leadership team as they expand via organic growth and acquisition within this highly fragmented market.”

“Following a thoughtful and thorough search, we believe Kaufman Hall is the right partner for our employees and customers,” said Neil de Crescenzo, president and chief executive officer, Change Healthcare. "We remain committed to our Connected Analytics business customers and will work closely with Kaufman Hall to provide a seamless and uninterrupted transition.”

Deutsche Bank served as Kaufman Hall’s Financial Advisor. William Blair & Company served as Change Healthcare’s Financial Advisor.

About Kaufman Hall

Kaufman Hall provides a unique combination of software, data and management consulting solutions to help society’s foundational institutions realize sustained success amid changing market conditions. Since 1985, Kaufman Hall has been a trusted advisor to boards and executive management teams, helping them incorporate proven methods, rigorous analytics and industry-leading solutions into their strategic planning and financial management processes, with a focus on achieving their most challenging goals.

Kaufman Hall services use a rigorous, disciplined, and structured approach that is based on the principles of corporate finance. The breadth and integration of Kaufman Hall advisory services are unparalleled, encompassing strategy; financial and capital planning; cost transformation; treasury and capital markets management; and mergers, acquisitions, partnerships, and joint ventures. Kaufman Hall software includes the Axiom Software Suite, providing sophisticated, flexible performance management solutions that empower finance professionals to analyze results, model the future, and optimize organizational decision making.

About Madison Dearborn Partners

Madison Dearborn Partners, LLC (“MDP”) is a leading private equity investment firm based in Chicago. Since MDP’s formation in 1992, the firm has raised aggregate capital of over $26 billion and has completed over 140 investments. MDP invests across five dedicated industry verticals, including basic industries; business and government software and services; financial and transaction services; health care; and telecom, media and technology services. For more information, please visit www.mdcp.com.

Media Contact for Kaufman Hall:

Philip Anast
Amendola Communications
Email: panast@acmarketingpr.com
Phone: 312-576-6990