NCN Supported Company Care Team Connect Acquired by The Advisory Board Company

NCN supported company Care Team Connect, Inc. (CTC) has been acquired by The Advisory Board Company (NASDAQ: ABCO).  CTC provides a comprehensive care management solution, powered by web-based SaaS technology, to help medical teams in the coordination of patient care across all settings. CTC’s workflow capabilities drive improvements in both the quality and cost of patient care. The Advisory Board Company is a global research, technology, and consulting firm that works with health care institutions to help them operate more effectively and deliver value to their communities. Care Team Connect will be positioned under the The Advisory Board Company’s Crimson organization and the name Crimson Care Management. Ben Albert, CTC’s CEO, will join the Advisory Board as an Executive Director.   

NCN investors and others first supported Care Team Connect with a $2.7 million financing in October 2010.  Local investors Heritage Group and The Martin Companies also participated in the financing.  Subsequent financings included investments from Cambia Health Solutions and National Health Care Services.  Care Team Connect is headquartered in Chicago and has a sales office in Nashville.

“This is a very successful exit for Nashville Capital Network, NCN Angel Fund I, and our angel partners.  Our Nashville-led investment syndicate included some of the leading health care entrepreneurial investors in our community.  Ultimately, some of the relationships within our group led to the connection with The Advisory Board,” said Sid Chambless, Executive Director of Nashville Capital Network.

“NCN is an excellent partner and has been a great resource for Care Team Connect.  The NCN knowledge and extensive angel investment network provided tremendous support for our growing company,” said Ben Albert, CEO, Care Team Connect.  “By joining forces with The Advisory Board, we best position the company to take advantage of a huge market opportunity.”

Care Team Connect is the third NCN supported company to have a positive exit in 2013.  NeighborMD was sold to CareSpot in April and Horizon Resource Group was acquired by Provista last month.

About Nashville Capital Network
Nashville Capital Network accelerates the development of early stage companies by nurturing the most promising entrepreneurs and connecting them with knowledgeable, experienced investors. NCN has cultivated a network of qualified and committed angel investors who have invested more than $40 million in Tennessee-based companies. Additionally, NCN manages the NCN Angel Funds and the TNInvestco Tennessee Angel Fund. For more information about Nashville Capital Network, visit www.nashvillecapital.com.