GRAND RAPIDS — SpendMend LLC, a provider of spending visibility and audit and recovery services to the health care industry, agreed to terms to acquire Contract Management Strategies in Los Angeles, Calif.
CMS performs recovery audits and other professional services.
Terms of the deal were undisclosed.
“Combining the two organizations brings the SpendMend technology, spend visibility and analytics to the CMS client base, expands the CMS services to the SpendMend clients, and adds a very talented group of professionals to our team,” stated Dan Geelhoed, CEO at Grand Rapids-based SpendMend.
Founded in 1993, SpendMend sold a majority stake in January to Chicago-based private equity firm Sheridan Capital Partners.
The CMS acquisition “is a first step forward in SpendMend’s growth strategy and further expands its service offering into the tax, medical device and pharmacy business segments,” said Sean Dempsey, a partner with Sheridan Capital Partners.