NET(net), Inc. Announces Definitive Agreement to Acquire The Copperwood Group
NET(net), Inc. announced today it has entered into a definitive agreement to acquire The Copperwood Group. The US-based Copperwood Group specializes in Executive IT Advisory Services for health systems, hospitals, providers and payers.
In a move that vaults NET(net) to market leadership in IT optimization for healthcare organizations, NET(net) will merge the services of the Copperwood Group into its NET(net) Healthcare division under the leadership of Matt Hartzman, Executive Vice-President. Key Copperwood Group Principals, Hal Fontinelle and John Barr, will join NET(net) as Senior Vice Presidents of Value Creation and Value Delivery for healthcare respectively. The Copperwood Group acquisition adds considerable experience, while enhancing NET(net) Healthcare’s scope of services. The Copperwood Group has been delivering Executive IT Advisory Services to healthcare organizations since 2003, helping clients navigate the growing complexity of IT supplier relationships. These services have included technology assessments, solution design and implementation, contracting assistance, supplier management and governance, service level agreement development and management, and interim IT management.
“Because of the way healthcare organizations plan for, deploy, and consume information technologies, they are particularly susceptible to sub-optimization,” says NET(net) CEO Steven C. Zolman. “Healthcare is at the top of industries that significantly overpay for IT. NET(net) has a long track record of success in helping clients significantly lower costs, improving the value of their technology investments. With the acquisition of the Copperwood Group, we are acquiring nearly a century of experience that has been exclusively focused on the healthcare industry, and an organization committed to serving the unique and demanding needs of healthcare clients for nearly a decade.”
Copperwood Group co-founder and Principal and NET(net) Healthcare SVP of Healthcare Value Creation, Hal Fontinelle, says, “Having been involved in the healthcare IT business for over 4 decades I have always felt that many healthcare organizations struggle with procurement of technology and related services. When I co-founded The Copperwood Group I wanted to create leverage for healthcare organizations in their procurement and negotiation of technical services and products and we were highly successful. NET(net) shares this core belief and brings a wealth of experience from other market sectors that will advantage healthcare IT buyers. I believe that that combined solution we are offering in NET(net) Healthcare can and will have a dramatic impact on optimizing health IT related expenditures by leveraging our collective strengths and experience.”
About The Copperwood Group
The Copperwood Group is an Executive Advisory services firm exclusively serving the healthcare sector and has successfully delivered over $2 billion of incremental client value through negotiated services and technology agreements. The Copperwood Group provides strategic advisory services for sourcing agreements and procurement; IT organization structure, governance and operational alignment; Service Level Agreement advisory services; and technology procurement.