A leading provider of correctional healthcare services is now under new management. Flacks Group, a privately held global investment firm, announced on June 30 it was acquiring Corizon Health Inc. for an undisclosed amount.
Corizon Health has provided evidence-based healthcare services to states and municipalities across the country for more than 40 years. Corizon offers comprehensive solutions for medical care, behavioral care, pharmaceutical, and re-entry services. Corizon Health’s PharmaCorr is the only in-house pharmacy in the corrections industry. The company employs over 5,000 staff, including doctors, nurses, and other healthcare professionals.
The acquisition accelerates Flacks Group’s growth in the U.S. and doubles the size of its worldwide business spanning four continents. Corizon Health has approximately $800 million in revenue.
Correctional healthcare companies have piqued the interest of a number of buyers in recent years, according to our Deal Search Online database. Just this past May, Fusion Health acquired Kalos Inc, a pharmacy management solutions provider for retail pharmacies, universities, and correctional facilities. Kalos was founded in 1940 under the name State Typewriter Co. Fusion Health was founded in 2006 as a correctional electronic health record (EHR) and IT consulting firm. It has four offices and more than 100 correctional EHR specialists nationwide.
Kalos will continue to operate under its current brand name and will be absorbed into Fusion as an operating subsidiary with the staff remaining in Topeka, Kansas.
Back in February 2018, Centene Corporation (NYSE: CNC) purchased MHM Services for an undisclosed amount. MHM Services provides behavioral health, medical, dental, and staffing services to correctional facilities, state hospitals, courts, juvenile facilities, and community clinics. It serves more than 330,000 individuals in more than 300 facilities across the United States. The acquisition also included Centene’s 49% ownership in Centurion, the correctional healthcare services joint venture between Centene and MHM.