Bowstring Advises HIMS Consulting Group in its Sale to HCTec Partners

March 29, 2016 | Atlanta, GA

Bowstring Advisors (“Bowstring”) served as the exclusive financial advisor to HIMS Consulting Group (“HIMS” or “the Company”) in its recent sale to HCTec Partners (“HCTec”). Based in Steamboat Springs, Colo., HIMS is a leading provider of healthcare IT consulting services to hospitals and healthcare facilities nationwide. This acquisition strategically aligns two industry-leading organizations to offer collaborative solutions that meet the needs of healthcare providers and consultants in a dynamic healthcare market.

HCTec CEO William Bartholomew said, “This is a very exciting opportunity for HCTec to grow exponentially. The combination of HIMS and HCTec will allow us to better serve our clients, enhance efficiencies, and create innovative solutions.”

Erich Strotbeck, general manager of HIMS, added, “HIMS and HCTec will combine their best practices to help our customers achieve their HIT initiatives, so they in turn can better serve their patients.”

The acquisition of HIMS expands HCTec’s presence in the western part of the United States and grows its base of consultants and service capabilities. The newly combined organization will leverage a powerful nationwide network of hospitals, hospital systems, and industry leaders to deepen current partnerships in order for customers and consultants to realize their professional and business objectives.

Andrew Brown, member of the HIMS Board of Directors, commented, “We are delighted for HIMS to partner with HCTec and are excited for the new opportunities the partnership will bring HIMS employees and consultants. On behalf of the HIMS Board of Directors, Joe Mendonca, Brian Parnell, and myself, we would like to thank Bowstring Advisors for their efforts in identifying the right partner for our business and delivering a successful outcome.”

Alan Bugler, Director at Bowstring, stated, “We are extremely appreciative for the opportunity to work with the HIMS Consulting Group team to evaluate partnership opportunities. HIMS’ sector expertise and differentiated model will create significant value for the combined organization.”

The combined company will operate under the HCTec brand; however, the successful strategies of both companies will continue, providing their employees, customers, and consultants with the best service and experience available.

We are delighted for HIMS to partner with HCTec and are excited for the new opportunities the partnership will bring HIMS employees and consultants. On behalf of the HIMS Board of Directors, Joe Mendonca, Brian Parnell, and myself, we would like to thank Bowstring Advisors for their efforts in identifying the right partner for our business and delivering a successful outcome.

Andrew Brown
Board Member
HIMS