Carrick Capital Partners, a Newport Beach private equity firm with more than $1 billion in assets under management, has acquired a majority stake in Renalogic, a company that helps businesses reduce employee healthcare costs involving kidney disease and protects against related financial risks.
Phoenix-based Renalogic uses data-management tools to help clients identify employees who are at risk of chronic kidney disease and therefore are candidates for early intervention to deliver better health outcomes and significant savings. It’s a disease where the industry has struggled to reduce costs, Carrick said.
Carrick plans to help Renalogic expand its services to cover other diseases and treatments like cancers and organ transplants that pose financial risks to self-insured businesses.
Renalogic, which has 60 employees, declined to reveal annual revenue. Its 2019 EBITDA grew 195% over 2018 and 2020 EBITDA grew another 63% over 2019.