Ridgecrest Advisors’ Client Perficient Acquires MedTouch
SAINT LOUIS, MO (January 6, 2020) – Ridgecrest Advisors announced today that its client, Perficient, Inc. (NASDAQ: PRFT) (“Perficient”), the leading digital transformation consulting firm serving Global 2000 and other large enterprise customers throughout North America, has acquired MedTouch LLC (“MedTouch”), an award-winning, $13 million annual revenue digital healthcare marketing and technology consultancy.
The acquisition is expected to be accretive to adjusted earnings per share immediately.
“We are excited to strengthen our healthcare industry expertise and digital marketing capabilities with the strategic acquisition of MedTouch,” said Jeffrey Davis, Perficient’s Chairman and CEO. “Perficient has more than 20 years of experience in delivering digital technology consulting solutions to leading payer, provider and pharmaceutical organizations. MedTouch further enhances our ability to help healthcare organizations provide their patients and customers with the right information and care where and when they need it most, improving quality of care and patients’ lives.”
The acquisition of MedTouch:
- Broadens and deepens Perficient’s healthcare consulting capabilities, bringing strategic digital marketing solutions and services focused on patient acquisition, customer experience, patient engagement and loyalty, and physician marketing;
- Adds more than 50 consulting, technology, sales and administrative professionals; and
- Brings a strong concentration of strategic client relationships with Fortune 1000 and leading healthcare institutions, creating significant opportunity for cross-selling synergies.
MedTouch CEO Paul Griffiths joins Perficient in a key leadership role.
“Perficient is well known for its end-to-end digital consulting expertise across many industries and technology platforms and is widely-regarded as one of the largest and most capable digital transformation consulting firms in the country,” said Griffiths. “We’re thrilled to join the team. With Perficient’s depth and breadth in digital and strategic consulting, coupled with its reputation for driving excellence in healthcare, we can continue to deliver innovative digital health solutions.”
Randy Grigg, managing partner of Ridgecrest Advisors, advised Perficient on the transaction in his capacity as a registered investment banking agent of M&A Securities Group, Inc. “The combination of MedTouch and Perficient promises to be a powerful one in digital health solutions and the acquisition is the latest example of Perficient’s successful use of a highly targeted M&A program to strengthen and extend its digital transformation capabilities,” said Grigg.
About Perficient
Perficient is the leading digital consultancy helping transform the world’s biggest brands. As a trusted end-to-end digital provider, Perficient partners with its Global 2000 and other large enterprise customers across North America to design and deliver digital transformation solutions that exceed customers’ expectations, outpace the competition and transform their business. Perficient’s professionals serve clients from a network of offices across North America and offshore locations in India and China. Traded on the Nasdaq Global Select Market, Perficient is a member of the Russell 2000 index and the S&P SmallCap 600 index. Perficient is an award-winning Adobe Platinum Partner, Platinum Level IBM business partner, a Microsoft National Service Provider and Gold Certified Partner, an Oracle Platinum Partner, an Advanced Pivotal Ready Partner, a Gold Salesforce Consulting Partner, and a Sitecore Platinum Partner. For more information, visit www.perficient.com.
About Ridgecrest Advisors
Ridgecrest Advisors is an investment banking and business consulting firm dedicated to helping technology consulting firms dramatically increase enterprise value. Ridgecrest Advisors helps clients in four core areas:
- Buy-side M&A advisory:We help technology consulting clients increase enterprise value by successfully executing transactions which fortify, extend or transform their businesses. We have run three of the most active acquisition programs in the sector over the last 15 years and bring deep insight into full lifecycle M&A efforts.
- Sell-side M&A advisory:We help technology consulting clients achieve premium valuations with attractive deal structures through a process that emphasizes speed and risk mitigation. Our deep industry expertise, expansive relationships with the buyer community and unmatched understanding of the perspectives of acquiring firms provide a unique ability to execute optimal transactions.
- Business consulting:Our Enterprise Value Optimization program helps technology consulting clients improve relative performance visibility, increase profit margins and reduce business risk. With our extensive experience from evaluating hundreds of consultancies while running acquisition programs, we bring unique insight into key performance indicator benchmarks and best practices of highly profitable firms.
- Private placements:Our ability to successfully raise capital allows our technology consulting clients to build value through funded strategic investment and reduce personal financial risk by realizing partial liquidity on their ownership positions. We have extensive relationships with private equity and debt financing providers who have experience and/or interest in the technology consulting sector.
All services involving securities are offered through M&A Securities Group, Inc. (“MAS”), member FINRA/SiPC; 4151 North Mulberry Drive, Suite 252; Kansas City, MO 64116; 816.888.7920. MAS and Ridgecrest are not affiliated entities.Perf
