Tegria Acquires Cumberland To Provide New and Enhanced Offerings for Healthcare Providers and Payers
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Acquisition Advances Tegria's Mission to Transform the Business of Healthcare
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SEATTLE, March 16, 2021 /PRNewswire/ -- Tegria today announced the acquisition of Cumberland, a leading healthcare consulting and services firm for payers and providers. The move accelerates the growth of Tegria, launched by Providence in October 2020 to provide next-generation technologies and services to the healthcare sector. As a result of this transaction, Tegria increases its consulting capabilities for payer organizations while strengthening and diversifying its comprehensive consulting and managed service offerings for provider organizations.
"The healthcare industry is simultaneously managing two enormous challenges – the COVID-19 crisis and the need to invest in a post-pandemic future," said Anders Brown, managing director of Tegria's consulting and technology services group, where Cumberland will reside. "Cumberland brings new energy and capacity to Tegria's commitment to help the industry meet those challenges. Together, we can help customers transform by delivering patient-centered care, through improved access to better and more useful data, and through the deployment of forward-looking technologies."
"The breadth of our industry-leading healthcare consulting and managed services, combined with Tegria's vision for supporting customers as they transform, positions us to support payers and providers as they evolve and continue to integrate," said Brian Cahill, chief executive officer of Cumberland. "Our team is excited about joining Tegria and we look forward to what we can accomplish together."
With Cumberland, Tegria further expands its capabilities and reach to payers, particularly in core claims and benefit administration systems, as well as care management systems. Cumberland brings complementary strengths to Tegria's robust managed services offering, and additional breadth and depth to Tegria's technology consulting expertise, primarily in the strategy, optimization and integration of leading enterprise systems. Also, Cumberland has increasing momentum in the retail healthcare market, which is expanding rapidly and is set to grow significantly over the next decade.
Cumberland will operate as an independent business unit, with its leadership team and employees remaining in place, as part of Tegria's consulting and technology services group. It will continue to support its current customer portfolio while also partnering with teams across Tegria to collaborate on new combined offerings and mutual clients.
Since its founding in 2004, Cumberland has earned accolades by delivering advisory consulting, technology services, and managed services for healthcare organizations in the provider and payer markets. The company is based in Franklin, Tennessee, and has more than 250 employees committed to their customers' success in advancing healthcare.
"Cumberland has a stellar reputation for technology expertise and advisory services, with outstanding talent at every level of their organization," said Brown. "They share our values and sense of mission, and there's a strong cultural alignment between us. We're excited to see Cumberland join Tegria, and we're looking forward to working together on behalf of our healthcare customers."
Cascadia Capital served as the financial advisor and Davis Wright Tremaine acted as legal counsel to Tegria. Clearsight Advisors served as the financial advisor and Goodwin Procter acted as legal counsel to Cumberland.
About TegriaTegria helps health care organizations of all sizes accelerate technological, clinical and operational advances that enable people to live their healthiest lives. Based in Seattle with teams throughout the United States and Canada, Tegria is comprised of ten companies and more than 3,000 strategists, technologists, service providers and scientists dedicated to delivering value for customers. Founded by Providence, Tegria is committed to creating health for a better world. To learn more, visit http://www.tegria.com.
About CumberlandCumberland, a Tegria company, is a leading healthcare consulting and services firm providing strategic advisory consulting services, technology services and managed services solutions to healthcare clients in the payer and provider markets. Our experienced team of professionals is committed to delivering solutions that advance the business of healthcare. For more information on Cumberland, visit http://www.cumberlandcg.com.
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