Alternative asset manager Carlyle Group LP has agreed to acquire a majority stake in MedRisk, Inc., a King of Prussia, Penn.-based provider of physical medicine solutions to the workers' compensation industry.
As a result, current investor TA Associates will exit as part of the transaction, while MedRisk Founder Shelley Boyce, CEO Mike Ryan and other members of MedRisk management will retain a minority equity stake.
Financial terms were not disclosed.
The transaction is subject to regulatory conditions and is expected to close before the end of 2017.
Centerview Partners LLC served as financial adviser to MedRisk, Morgan Lewis & Bockius LLP served as legal adviser. Goodwin Procter LLP acted as legal adviser for TA Associates.