On May 16, the Pennsylvania Medical Society (PAMED) finalized the sale of KEPRO, a PAMED subsidiary, to Consonance Capital Partners, the private equity arm of Consonance Capital, a leading healthcare-focused investment firm.
Founded by PAMED in 1985 to provide Medicare peer review services, KEPRO is now a leading medical management and cost containment solutions provider for government and private sector clients.
Commenting on the transaction, PAMED Board Chair John Pagan, MD, said, “PAMED is confident that Consonance, as our partner in this acquisition, will help position KEPRO for continued growth and be a strong shepherd of further expansion.”
Joe Dougher, President and CEO, KEPRO, said, “We are excited to work with Consonance and believe KEPRO will now be better positioned to capitalize on the many growth opportunities we are seeing in the market.“
Dougher said he hopes that this partnership will also enable KEPRO to accelerate expansion of their integrated suite of medical review and care management solutions.
Terms of the transaction were not disclosed.