NexPhase Capital-Backed KnowFully Acquires CME Outfitters
Strategic Acquisition Adds Best-in-Class Medical Content to Continuing Education Platform
23 Jul, 2020, 07:00 ET
RADNOR, Pa., July 23, 2020 /PRNewswire/ -- KnowFully Learning Group ("KnowFully" or the "Company"), a leading provider of continuing professional education and exam preparation courses to the healthcare, accounting and finance sectors, today announced it has acquired CME Outfitters ("CMEO"), a leading accredited provider of continuing medical education.
Founded in 1985, KnowFully has been committed to supporting its customers as they prepare for exams, take training courses, and pursue continuing professional education. The Company is comprised of a family of brands including Surgent, a leading provider of exam preparation and continuing education solutions serving accounting, tax, and finance professionals, and PharmCon, a top provider of continuing professional education for the pharmacy industry. The Company is backed by NexPhase Capital, LP ("NexPhase"), a thematic and operationally-focused private equity firm.
Since its founding in 2002, CMEO has offered innovative, certified, outcomes-driven education and resources to clinicians and patients around the globe, as well as expert accreditation services for non-accredited organizations. CMEO focuses on educating community-based primary care and specialty providers and has broad expertise across psychiatry, neurology, gastroenterology, dermatology, rheumatology, virology, respiratory, cardiology, endocrinology, and oncology. CMEO also provides pharmacy, nursing, and dental continuing education credits. Educational delivery formats include live and on-demand online educational activities, medical simulations, interactive infographics, surgical skills workshops, and live symposia. CMEO has achieved "Accreditation with Commendation" from the Accreditation Council for Continuing Medical Education (ACCME) for three consecutive review cycles.
KnowFully's strategic acquisition of CMEO will further enhance its platform in the healthcare sector and provide its customers with additional educational opportunities. With a shared commitment to best-in-class instructional design and customer service, KnowFully and CMEO will work together to further develop educational resources that address the true needs of both clinicians and patients. CMEO co-founders and Managing Partners Jan Perez and Shari Tordoff, as well as the rest of the management team, will continue to lead the CMEO business as part of the KnowFully platform, and will benefit from access to additional resources and support for operations, technology development, and innovation.
"As a market leader in the medical education space, CMEO is the right partner for KnowFully as we embark on our next chapter of growth across industries and further build out our healthcare offerings," said Eric Cantor, Chief Executive Officer of KnowFully. "We are excited to work closely with CMEO's top-tier management team to capitalize on the many opportunities ahead and continue to drive innovation in continuing education for medical professionals. With this partnership, we will be well-positioned to expand and diversify our learning solutions."
"Our mission has always been to enhance healthcare for patients by improving the clinical competence of their healthcare teams, and today more than ever, we are doubling down on that mission and focused on providing the support that healthcare providers need to continue to practice at the top of their license," said Shari Tordoff, co-founder and Managing Partner of CMEO. "Jan and I are excited to partner with KnowFully and NexPhase at this pivotal time for our company and the healthcare industry, and we are confident that, with their resources and support, we will be able to take CMEO to the next level for the benefit of the healthcare providers and patients using our platform."
"As part of the KnowFully family, we're looking forward to further leveraging our technology and instructional design capabilities to continue to help healthcare providers optimize the care of their patients," said Jan Perez, co-founder and Managing Partner of CMEO. "Eric and the team share our values and mission in advancing continuing education, and we are thrilled to be able to bring new innovations to our learners as part of a larger and impressive technology platform."
"Since our initial investment in 2019, KnowFully has further established itself as a leader in the professional education industry," said Stephen Hoffman, Executive Chairman of the Board at KnowFully and NexPhase Executive Advisor. "We look forward to continuing to support KnowFully as it partners with CMEO and scales the business through additional acquisitions and organic growth to provide cutting-edge educational solutions for our valued customers."
Founded in 1985 as Surgent McCoy CPE, LLC, the KnowFully Learning Group is now a leading provider of end-to-end professional education in the accounting, finance, and healthcare sectors. KnowFully's brands enable students and professionals to more efficiently prepare for and pass professional licensure exams, satisfy required credit hours to maintain credentials, and leverage the comprehensive, practical, in-depth continuing education they need to remain at the forefront of their industries thereafter. For more information, please visit www.knowfully.com.
CME Outfitters develops, distributes, and certifies continuing education activities that focus on the integration of the multidisciplinary care team to ensure the best care of patients. CME Outfitters' educational interventions include interactive webcasts, live symposia, medical simulations, clinical case series, and other innovative formats that leverage the latest in technology to optimize the learning environment and promote clinician and patient behavior changes. CME Outfitters also offers expert accreditation, outcome, and logistics services for non-accredited organizations. For more information, visit www.cmeoutfitters.com.
NexPhase Capital, LP is a thematic and operationally-focused private equity firm that invests in lower middle market growth-oriented companies within three distinct sectors: consumer, healthcare, and software & services. The firm partners with companies that have reached a growth inflection point and are seeking a value-added partner to help navigate the company's "next phase." The NexPhase team has extensive industry and operational experience and NexPhase's partners have invested together for nearly a decade. The firm has completed nearly 60 investments including add-ons and targets control equity investments between $25 million and $75 million. For more information, please visit www.NexPhase.com.
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