We tell investors what the CIM won't.
Operator-led diligence and portfolio support for PE firms investing in healthcare and human services.
Talk to our teamFinancial diligence explains the past. Athena tests whether the business can deliver the growth thesis.
We've written the CIMs ourselves
We've represented sellers and prepared confidential information memoranda, so we know what they emphasize and what they leave out. That's the lens we bring to your target.
When Athena represents the seller in a deal, we tell you up front and decline the buy-side engagement.
Sectors we know from the inside
Support at every stage, from LOI to exit.
Investment diligence
- Commercial and operational review of targets under LOI
- Payer mix and reimbursement risk
- Growth thesis validation
- Management assessment
Transaction support
- Confirmatory diligence
- Integration planning
- Leadership gap assessment
- First-year KPIs
Value creation
- Medicaid RFPs and managed care contracts
- Rate negotiation
- New state entry
- Value-based care readiness
Add-on acquisitions
- Tuck-in target sourcing
- Deal execution for portfolio companies
Exit readiness
- Equity story
- Buyer analysis
- Data room preparation
- Management coaching
Know the tech and cyber risk before you price the deal.
Together with our partner Hatbox, we find the technology risks that standard diligence misses and put a number on them.
- Healthcare-specific cyber, AI, and technology risk review
- Remediation costs tied directly to price, reps-and-warranties, and walk-away decisions
PE work draws on the whole firm.
Every PE engagement pulls from all four Athena practice areas. M&A & Capital Advisory brings deal experience. Strategy & Growth drives RFPs, contracts, and new markets. Operations & Transformation strengthens leadership and performance. Technology & Analytics handles data, AI, and tech risk. Insight from one stage of the hold period feeds the next.
Three ways to work with us.
Single deal
Diligence on a specific target, scoped to your timeline and thesis.
Portfolio partner
A standing relationship across the whole fund instead of engagement by engagement.
Portfolio company support
Hands-on work inside one company to deliver the plan.
Operators, not observers.
Former CEOs, health plan executives, and state Medicaid leaders who have run the businesses and programs you're investing in. Meet the bench.