One of Middle Tennessee’s largest technology consulting companies has been acquired by a recently launched Seattle peer that’s backed by one of the country’s largest Catholic health systems.
Terms of the acquisition of Cool Springs-based Cumberland by Tegria aren’t being disclosed. The local company’s more than 300 employees will continue their IT systems consulting work with providers and insurers under the Cumberland brand.
Tegria was formed last October when executives of Providence, a health system with more than 50 hospitals and 1,000 clinics in seven states, combined nine health care technology companies in which they had invested into one venture. With the addition of Cumberland, Tegria now is home to more than 3,000 strategists, technologists, service providers and scientists looking to guide health care players through a period of digital transformation that the COVID pandemic has accelerated.
“Culture matters — it matters a lot — when building a company that has the mission-driven growth aspirations of Tegria,” said Anders Brown, managing director of Tegria’s consulting and technology services group. “We believe Cumberland is a perfect fit for us — and now for our collective partners and customers. And I can’t wait to see what comes out of our combined ‘better together’ efforts.”
Word of Cumberland’s sale comes 11 months after its executives said they had sold their life sciences division, which comprised 140 people, to Philadelphia-based IntegriChain. Cumberland was launched 17 years ago and had 2018 revenues of $110 million.
Clearsight Advisors was the financial advisor to Cumberland for this deal; Goodwin Procter was legal counsel.
This story was first published in our partner publication the Nashville Post.