SpendMend Acquires Contract Management Strategies
Summary
SpendMend , a cost recovery and spend visibility services to healthcare clients nationwide, acquired Contract Management Strategies (CMS), an Irvine, California-based provider of audit recovery and professional services.The acquisition will enable SpendMend to advance its position in the audit recovery market and accelerate its growth plan to offer a broader suite of cost optimization solutions to its customers into the areas of tax, medical device and pharmacy.Led by Dan Geelhoed, CEO, SpendMend leverages data, technology and analytics to identify gaps in processes that cause financial “leakage” for organizations.Once identified, the company utilizes this information to actively recover excess spend for its customers and also provides benchmarking, analytics and actionable insights.SpendMend is a portfolio company of Sheridan Capital Partners, a Chicago-based private equity firm founded in 2012.