AArete Embarks on Next Chapter of Growth and Innovation

Investment from Parthenon Capital Positions Profitability Improvement Leader for Transformational Growth

AArete (or the “Company”), a leading provider of profitability improvement, digital transformation, and strategic advisory services to healthcare payers as well as financial services and public sector clients, announced a strategic investment from Parthenon Capital, a leading growth-oriented private equity firm with a long history of supporting innovative companies in healthcare solutions and technology. Following the transaction, AArete’s existing employees and leaders will continue as significant shareholders in the Company.

The investment will allow AArete to accelerate key growth initiatives, broaden its solution set, and pursue acquisitions. The Company will prioritize continued innovation across service lines, leveraging technology and automation to enhance its value proposition to clients.

“We are very excited to partner with Parthenon Capital as we look to this next chapter in AArete’s evolution,” said Loren Trimble, AArete's CEO & Managing Director. “We believe Parthenon Capital’s deep healthcare expertise and experience helping companies drive transformational growth will further strengthen AArete’s position as the strategic partner-of-choice for payers and other verticals. This is an important inflection point in AArete’s nearly two-decade history that will create opportunities for our team as they continue to focus on serving clients with excellence.”

“AArete has established itself as an important partner to a number of the nation’s leading health plans,” said Dan Killeen, a Partner at Parthenon Capital. “As active investors in healthcare services and technology businesses, we know well the challenges payer organizations face across several dimensions and believe AArete is uniquely equipped to serve as a strategic resource to help address those pain points. We look forward to collaborating with the AArete team in the coming years, building on their success to-date and working together to create the market’s leading payer advisory platform.”

About AArete

AArete is a global management and technology consulting firm specializing in driving profitability improvement, digital transformation, and strategy & change for clients. AArete’s solutions are powered by a digital-first mindset, market intelligence, and data-driven approach to deliver purposeful change, actionable insights, and guaranteed results. AArete humanizes data by translating numbers into actionable insights, helping clients make better decisions and standing by their side to foster change with confidence, empathy and purpose. For more information, visit www.AArete.com.

About Parthenon Capital

Parthenon Capital is a leading growth-oriented private equity firm with offices in Boston, San Francisco, and Austin. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service and technology industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in financial and insurance services, healthcare and technology services, but seeks any service, technology, or delivery business with a strong value proposition and proprietary know-how. For more information, visit www.parthenoncapital.com.

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"This is an important inflection point in AArete’s nearly two-decade history that will create opportunities for our team as they continue to focus on serving clients with excellence," said Loren Trimble, AArete's CEO & Managing Director.