02/19/2020

Citizens M&A Advisory serves as exclusive financial advisor to Impact Advisors on its recapitalization by Chicago Pacific Founders

PROVIDENCE, RI – February 19, 2020 – Citizens M&A Advisory served as the exclusive financial advisor to Impact Advisors, a leading healthcare-focused consulting firm dedicated to helping its provider clients optimize clinical and operational performance through technology and strategic process improvement, in its recapitalization by Chicago Pacific Founders, a Chicago-based healthcare-focused private equity firm.

Impact provides a comprehensive portfolio of strategic advisory, implementation and optimization services that help major healthcare systems all across the United States solve complex digital health, patient access, clinical operations and revenue cycle challenges. The company’s founders, Andy and Peter Smith, have a combined 40+ years of experience in the healthcare IT industry and will continue leading the organization through its next phase of growth as a portfolio company of Chicago Pacific Founders.

Pete Smith, co-founder of Impact, said: “Citizens M&A Advisory team was instrumental in providing strategic guidance as we navigated through the transaction. Their primary focus was ensuring the best long-term position for the firm and a successful outcome for the process. Their knowledge of the healthcare industry, strength of their team and strategic analysis allowed us to focus on the critical aspects of the process.”

“Impact Advisors is Citizens M&A’s 20th closed transaction in the healthcare IT sector. The company has one of the top brands in the market, which is a testament to Impact’s dedication to their clients, their team and running a business to the highest operational and ethical standards,” said Don Holbrook, managing director at Citizens. “The combination with the Chicago Pacific Founders team offers multiple avenues for increased growth through broad industry relationships and a deep bench of operating partners.”

About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $165.7 billionin assets as of December 31, 2019. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,100 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services, including lending and deposits, capital markets, treasury services, foreign exchange and interest rate products, and asset finance. More information is available at www.citizensbank.com or visit us on TwitterLinkedIn or Facebook.