Acentra Health is seeking acquisition targets to bolster its managed care capabilities as the market moves away from a fee-for-service model, CEO Todd Stottlemyer told this news service in an interview alongside Chief Strategy Officer Verlon Johnson.

In an interview, Stottlemyer said targets that can help Acentra use data from multiple sources to provide actionable, real-time individual and population health insights for clients are also of particular interest to the Carlyle Group-backed healthcare technology company.

Companies with intellectual property related to software and data analytics will make especially attractive acquisition targets, both executives said. Acentra is also interested in targets that can help advance its abilities “around social determinants of health, health-related social needs, and/or behavioral health,” a spokesperson for the firm added.

Previously, Acentra identified 68 potential targets to be ranked based off certain criteria and then contacted, Stottlemyer and Johnson said. The spokesperson added that “we recall that number came up around the discussion of when we acquired Kepro,” declining to disclose the current size of the list.

The company offers services and solutions spanning financial management, quality and compliance, data interoperability and provider engagement, according to its website. It also offers a cloud-based IT technology called evoBrix X and a platform for care management called Atrezzo, with clients including state and federal agencies, according to Stottlemyer.

Carlyle has had a stake in Acentra for around three years, announcing its purchase of a predecessor called CNSI from Alvarez & Marsal Capital Partners in December 2021. Almost one year later, Carlyle said CNSI was merging with Kepro, and the combined entity subsequently rebranded to Acentra Health.

Acentra is projecting 2024 revenue of USD 500m-USD 600m, according to Stottlemyer. He would not offer a specific timeline for future acquisitions and said target size could vary. The company spokesperson added that “Carlyle has backed both of our acquisitions and has actively supported us in the acquisition process.” Acentra is open to acquiring private equity-backed and founder-owned businesses, Johnson said.

In January, Acentra announced its acquisition of EAP Consultants, also called Espyr, with Bailey & Co. as the sell-side financial advisor. That deal was “in the tens of millions of revenue,” according to Stottlemyer and the spokesperson.

Acentra is not planning any divestitures, Stottlemyer said.

Carlyle Group and Bailey & Co. did not respond to requests for comment.