Debevoise, White & Case Aid Carlyle Sale of MedRisk Major Stake

Debevoise & Plimpton is advising Carlyle Group Inc. on its sale of a majority stake in MedRisk, a provider of managed physical medicine services for the U.S. workers’ compensation industry.

Debevoise is also advising MedRisk. White & Case is advising CVC Capital Partners, which is purchasing the Carlyle stake.

After closing, expected in the second quarter, Carlyle will retain a minority investment in MedRisk, which will be jointly managed by the two private equity firms, according to a statement. No financial details were disclosed.

Carlyle is “incredibly proud of MedRisk’s growth journey over the past three years of our partnership” and will support the company “in its next chapter,” said William McMullan, a Carlyle partner.

Founded in 1994, King of Prussia, Pa.-based MedRisk manages physical therapy, occupational therapy, and chiropractic treatments for more than 500,000 injured workers annually through a nationwide network across 49 states and Washington, D.C.

The MedRisk team, including founder Shelley Boyce, Executive Chairman Mike Ryan, and CEO Ken Martino, will reinvest in the company.

“Partnering with CVC, given their extensive network and significant financial resources, will fuel our next stage of growth,” Ryan said. “They have a deep understanding of the health care sector and a strong record of helping to build market-leading companies, while maintaining the highest levels of quality.”