TELEO Capital Management has announced it has acquired CHCS Services from Capgemini America.
CHCS, based in Pensacola, Fla., is a technology-enabled third-party administrator for the senior health and eldercare markets. Founded in 1989, the company focuses on long-term care and Medicare supplement plans.
TELEO, based in El Segundo, Calif., is a lower middle market private equity firm. Founded in 2018, the firm seeks to invest $10 million to $25 million per platform and targets companies in healthcare IT and a few other sectors with between $10 million and $100 million in revenue.
Capgemini America, based in New York, provides consulting, technology, and outsourcing services.
Terms of the acquisition were not disclosed.
