Bowstring Advises Cumberland in its Acquisition of Cipe

July 1, 2014 | Atlanta, GA

Bowstring Advisors (“Bowstring”) served as the exclusive financial advisor to Cumberland Consulting Group (“Cumberland”), a national healthcare technology implementation and project management firm, in its acquisition of the assets of Seattle-based Cipe Consulting Group, LLC (“Cipe”). Cipe is a growing healthcare technology consulting firm specializing in electronic health records and revenue cycle system implementation and support, including workflow and business analytics.

The transaction expands Cumberland’s service offerings to include top-quality staffing resources with specialized clinical workflow knowledge to enhance the firm’s core technology implementation and project management services.

“This deal is great news for our investors, our employees and, most importantly, our clients,” said Jim Lewis, Cumberland CEO and managing partner. “Cipe is well-known for the depth of its implementation experience and for the high-quality staffing support it delivers to healthcare providers across the country. We are very excited to be joining forces to better serve our clients.”

“When we founded Cipe, our goal was to create a successful consultancy as well as a great place to work. Cumberland’s employee-driven culture and commitment to delivering quality resources and solutions to its clients align with the original vision for our organization. This is the natural next step in our growth.”

Founded in 2010, Cipe’s portfolio of services includes niche application consulting services, project management and specialty services. By joining Cumberland, Cipe will offer its clients access to Cumberland’s robust service offerings and to its more than 230 experienced consultants. In addition, the transaction will result in expanded opportunities for Cipe consultants.

“We are excited to join such a well-respected organization with a proven track record of helping healthcare clients implement technology to improve quality of care and overall business performance,” said Rachel Wixson, co-founder and managing director, Cipe Consulting. “When we founded Cipe, our goal was to create a successful consultancy, as well as a great place to work. Cumberland’s employee-driven culture and commitment to delivering quality resources and solutions to its clients align with the original vision for our organization. This is the natural next step in our growth.”

The merger will result in more than 50 Cipe professionals’ joining the Cumberland team. Cipe’s co-founders, Wixson and Derek Garrison, will join Cumberland as partners. The Seattle office will be maintained, resulting in the expansion of Cumberland’s footprint across the U.S. with the addition of a West Coast office.

Jimmy Secretarski, Managing Director of Bowstring Advisors, commented, “Cumberland’s acquisition of Cipe will add management depth, consulting talent, a West Coast presence as well as deep relationships with clients. It should be a big win for both companies.”

This is the second acquisition for Cumberland in the last 12 months. In November of 2013, the firm announced the purchase of Mindlance Life Sciences, a consulting group focused on providing advisory and technology implementation services to pharmaceutical companies specializing in contract and revenue management, compliance, and data analytics solutions.

Cumberland is a portfolio company of Tailwind Capital, a private equity firm focused on investing in growth-oriented middle-market companies. Financing for the transaction was provided by Deerpath Capital and Pinnacle Financial Partners.

This deal is great news for our investors, our employees and, most importantly, our clients. Cipe is well-known for the depth of its implementation experience and for the high-quality staffing support it delivers to healthcare providers across the country. We are very excited to be joining forces to better serve our clients.

Jim Lewis
CEO and Managing Partner
Cumberland Consulting Group