TOG currently has annual revenues of $100m, which makes it one of the largest privately owned healthcare revenues cycle firms in the US.
ClearLight bought TOG in December 2004 in partnership with chief executive Michael DiMarco and has since expanded the business by growing it organically and through a dozen bolt-on acquisitions.
ClearLight managing partner Michael Kaye said, “We are proud of our association with Michael DiMarco and the team at TOG, and of their accomplishments.
“Working with talented executives to execute against a well-defined investment thesis that includes strong organic growth as well as selective fold-in acquisitions is one of our preferred ways to build value.
“We think that Parallon will be an excellent new home for the Company and are pleased to deliver an attractive return to ClearLight’s investors.”
Back in November last year ClearLight closed its third fund on $300m after receiving repeated backing from its single limited partner.
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