Bowstring Advises Aspen Advisors in Joining The Chartis Group

January 2, 2015 | Atlanta, GA

Bowstring Advisors (“Bowstring”) served as the exclusive financial advisor to Denver-based Aspen Advisors, LLC (“Aspen”), in its joining The Chartis Group (“Chartis”).  The combination will create a strategic healthcare consultancy unrivaled in its offering of comprehensive thought leadership and capabilities in strategic planning, accountable care, clinical transformation, and information technology.

Aspen is a top KLAS-ranked IT advisory services firm that works with healthcare organizations across the country to enhance performance through the strategic and effective use of information technology. Aspen was recently ranked #3 in the Modern Healthcare annual ranking of the top 100 employers in the healthcare industry. Chartis is a leading healthcare management consultancy that works with the nation’s foremost providers on enterprise critical matters. Chartis was ranked this year by Vault as one of the top five boutique consultancies across all industries and one of the top 15 consulting firms of any size across all industries.

“The healthcare industry stands on the precipice of great change, and no dimension has the potential to be more transformative than information technology and applied analytics. To continue to provide leading-edge healthcare advisory services, we must be able to bring our clients world-class capabilities in information technology and do so in a way that is powerfully integrated with their strategy, their clinical delivery, and their evolving business model,” said Ken Graboys, Managing Director and CEO of The Chartis Group. “And that is why we are so excited that Aspen Advisors will be joining The Chartis Group. Not only is Aspen the top healthcare IT consulting firm in the country, but our missions and cultures have extraordinary similarities. Both firms place the greatest primacy on thought leadership, and both are highly collaborative – with their clients and with each other.”

“We have created a special firm that has brought together industry all-stars who are passionate about serving our clients and bring deep healthcare information technology, clinical, operational, change management, and consulting expertise – people dedicated to delivering measurable value to our clients and driving change in our industry,” said Daniel Herman, Aspen Advisors Founder and Managing Principal. “Medical and information technology are catalysts for improving health status, providing access to services in cost-effective settings, and demonstrating improved outcomes. We strongly believe that technology can no longer be seen merely as an enabler or business tool. It must be wholly integrated into the healthcare organization’s business model and means of healthcare delivery. Partnering with a healthcare strategy firm became intriguing to Aspen leadership, and we began working collectively with The Chartis Group on several client engagements. In working together, it became clear that we had found an exceptional partner that shares our mission and our values with which to extend our capabilities and impact.” Herman will serve on The Chartis Group Board of Directors and its Management Committee.

Tom Donahue, Managing Director of Bowstring Advisors, commented, “Aspen and Chartis are perfect partners, as the two management teams share the same mission to materially improve healthcare and continued dedication to their clients.”

This transaction marks the 10th healthcare IT consulting transaction on which Bowstring was the advisor and marks the 21st closed transaction for the Bowstring team in 2014. The transaction was effective November 3, 2014. Terms of the transaction were not disclosed.


Aspen and Chartis are perfect partners, as the two management teams share the same mission to materially improve healthcare and continued dedication to their clients.

Tom Donahue
Managing Director
Bowstring Advisors