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Audax Private Equity Announces Recapitalization of the Chartis Group

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BOSTON–(BUSINESS WIRE)–Audax Private Equity (“Audax”) today announced that it has
recapitalized, in partnership with management, The Chartis Group, LLC
(“Chartis” or the “Company”). Headquartered in Chicago, IL, and
previously a portfolio company of RLH Equity Partners, Chartis is a
leading provider of advisory consulting and software analytics to
hospitals, health systems, and other healthcare organizations around the
world. Founded in 2001, Chartis’ mission is to materially improve the
delivery of healthcare by providing thought leadership, advisory,
innovation, and analytics services to healthcare organizations. The
Chartis management team will continue to lead the Company and, together
with the Chartis consultants and employees, maintain a significant
ownership position.

Ken Graboys, Chief Executive Officer of Chartis, said,We
are excited to partner with Audax and for the opportunity it provides us
to continue to achieve meaningful growth and expand our impact on global
healthcare. Audax brings the resources and capital to support the growth
of our next generation of practice offerings, and to make strategic
acquisitions.”

Young Lee, Managing Director at Audax, said, “Chartis
has earned an outstanding reputation in the healthcare consulting
industry demonstrated by the transformational results delivered to
clients, extraordinarily talented people, and strong firm culture. We
are excited to join the team as they continue to build on this success.”

Tim Mack, Managing Director at Audax, said, “We look forward to
partnering with the Chartis team as they continue to provide innovation
and improvements for healthcare systems, and pursue strategic add-on
acquisitions and partnerships.”

Terms of the transaction were not disclosed. Lincoln International LLC
acted as exclusive financial advisor and Winston & Strawn LLP served as
legal counsel to Chartis. Ropes & Gray LLP served as counsel to Audax.

ABOUT THE CHARTIS GROUP
The Chartis Group (“Chartis”)
provides comprehensive advisory services and analytics to the healthcare
industry. With expertise in strategic planning, performance excellence,
informatics and technology, and health analytics, Chartis helps leading
academic medical centers, integrated delivery networks, children’s
hospitals and healthcare service organizations achieve transformative
results. Chartis has offices in Atlanta, Boston, Chicago, New York,
Minneapolis, Portland and San Francisco. For more information, visit http://www.chartis.com.

ABOUT AUDAX PRIVATE EQUITY
Audax Group is a leading
alternative investment manager with offices in Boston, New York, and San
Francisco. Since its founding in 1999, the firm has raised over $24
billion in capital across its Private Equity and Private Debt
businesses. Audax Private Equity has invested over $5 billion in more
than 125 platforms and 770 add-on companies. Through its disciplined Buy
& Build approach, Audax seeks to help platform companies execute add-on
acquisitions that fuel revenue growth, optimize operations, and
significantly increase equity value. With more than 240 employees and
over 100 investment professionals, the firm is a leading capital partner
for North American middle market companies. For more information, visit
the Audax Group website www.audaxgroup.com.

Contacts

Audax Group
Young Lee, Managing Director – (617) 859-1532
Tim
Mack, Managing Director – (617) 859-1574

The Chartis Group
Ken
Graboys, Chief Executive Officer – (877) 667-4700

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