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Outsider Perspective.
Insider KnowledgeSM

The premier thought partner for healthcare companies
looking to buy, sell, or grow

Experience. Relationships. Integrity.

ST Advisors is a boutique consulting firm providing strategic and financial advisory services to healthcare IT and services firms. Since 2009, we have partnered with some of the most innovative and successful companies and financial sponsors in the healthcare industry. Our 40 combined years of industry-specific experience and expertise in equity research, investment banking, and corporate strategy have produced deep relationships with senior corporate leaders, and strong ties with the sector’s most prominent investment bankers, equity analysts, and private equity and venture investors.

Our Clients

Our Services

Retained
Advisor

A CEO’s constituents, including investors, board members, clients, employees — even the balance of the senior management team — all have their own goals, needs, and agendas. With no need to promote a specific agenda, we can leverage our combined 40 years of healthcare IT and IT-enabled services experience to provide unbiased perspective, advice and guidance to help our clients tackle their strategic challenges.

Corporate
Development

Acting, in effect, as an outsourced Senior Vice President of Corporate Development, ST Advisors assists with the full range of strategic corporate development responsibilities, from identification of growth objectives and markets of interest to front-end sourcing through back-end strategic diligence. Our industry reach and reputation allow us to cut through market noise and directly access key decision-makers.

Strategic
Analysis

ST Advisors assists companies in developing differentiated mid-and long-term growth strategies. We help our clients identify and analyze potential opportunities, evaluate markets, assess competitive positioning, review build / buy / partner decisions, and much more.

Strategic
Assessment

Strategic Assessments offer ST Advisors’ clients the perfect
vehicle for tackling a specific challenge or question. We support organizations in addressing a wide array of dynamic, near-term strategic issues such as assistance with diligence for strategic buyers or institutional sponsors, helping companies express their value proposition, assessing market size for niche industries, joining a management team for an offsite and much more.

Transaction
Support

ST Advisors is your trusted advocate during one of the most important events of your company’s life cycle. As veterans of dozens of transactions advising both buyers and sellers, we are uniquely qualified to be your M&A coach, advocating for the management team throughout the transaction process. With ST Advisors, you take each step confidently, bolstered by our commitment to honesty and transparency regarding value, suitors, timing, risks, and terms.

M&A Growth
Diligence

ST Advisors supports leading financial sponsors and corporate strategic investors as they focus on potential platform investments. As a complement to a sponsor’s traditional market work, we assist the sponsor in creating a post-acquisition inorganic growth strategy, including target opportunity identification – with particular attention paid to 12-, 24-, and 36-month potential actionability of target assets.

Our Happy Customers

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Avalon hired ST Advisors as part of an initiative to accelerate the company's growth. Eighteen months later we closed the books on the best growth year in the company's history. As one of our investors stated, “We frequently have companies project accelerated growth; rarely do we see it actually occur.” ST Advisors was core to that success.

Bill KerrCEO of Avalon Health Solutions
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Working with ST Advisors is like having a close and trusted friend at the table to provide valuable insight and strategic advice. More than the quality of their work, industry experience, or repository of relationships, I know they will tell me what they think without any other agenda but to provide their best and most thoughtful advice.

Angie FranksCEO of Healthland (2010-2013); CEO of About Healthcare (2017-2023)
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ST Advisors brings all the experience, network and thoughtfulness of a board member, but with a truly independent and fresh perspective that is trusted by management and third parties and backed by real-time market knowledge

Senior Banker with whom ST Advisors has co-advised
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Working with Ben and Michelle was essential in helping me create a deal team for basys, resulting in a successful recapitalization that exceeded expectations. They were there as my trusted advisor / partners throughout the entire process, which allowed me to focus on growing my business. While I’d sold a business as its CEO, and been a senior PE investor, working with ST Advisors was a great decision for me and my company.

Jenny MorganCo-Owner and CEO of basys
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We engaged ST Advisors because of the unparalleled market knowledge they brought to the table, augmented by their impressive network of industry experts. The clarity they brought to developing our strategy was a meaningful contributor to the success of our subsequent exit 15 months later.

Gerry McCarthyCEO of eSolutions (2018–2020)
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Ben and Michelle were instrumental in our M&A process. We used them from start to finish; identifying potential targets, creating effective screening criteria and helping to negotiate and manage the transaction. Their healthcare industry knowledge and experience and trusted counsel were a great help to Vocera.

Brent LangPresident and CEO of Vocera (2013–2022)
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The team at ST Advisors was an asset to me during my time as CEO of QuadraMed. As the company explored inorganic growth options, Ben and Michelle demonstrated their in-depth understanding of the business and were thoughtful and creative in their approach to the engagement. They are my trusted advisors, and I welcome any opportunity to work with them again on future projects.

Duncan JamesCEO of QuadraMed (2009–2013)
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ST Advisors’ extensive research and analysis helped our leadership team think outside the box of our daily operations to explore new opportunities for growth.

Justin SteinmanCMO of GE Healthcare Digital (2013–2016)
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The team at ST Advisors helped IOD navigate the uncertainty of our fluid market sector with candor and out-of-the-box thinking. Their detailed analysis, focused on areas where IOD's technology could solve emerging business trends and deliver a differentiated perspective, served as the cornerstone of our long-term growth strategy.

George AbatjoglouCEO of IOD (2012–2015)
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As I navigated the sale of my business, ST Advisors was my trusted guide through the entire process. Most importantly, ST Advisors was an instrumental asset during the most contentious period of the transaction. I have no doubt that we were able to achieve a successful close because of their involvement and contribution.

Fran Loshin-TursoCEO of Defran System (1984–2012)
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ST Advisors helped us orient ourselves amid the noise in the market. They enabled us to mature and clarify our strategy, sort through options and potential partners, and successfully transition the business.

William KellyCEO of Treo Solutions (2002–2014)
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We worked with ST Advisors for eight years, during which time they became a trusted advisor to both the management and Board of NTSP. We value their opinion, input, and support, and would not engage in a strategic relationship or transaction without their consultation.

Fowad ChoundhryCEO of NTSP (2014–2019)
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Ben and Michelle bring a unique perspective built upon their experience across a wide spectrum of the healthcare technology ecosystem. They are trusted advisors, offering a sound and balanced perspective - even if they are on the other side of a transaction. I’ve consistently appreciated their strategic insights and collaborative, relationship-driven approach.

Dan BisePartner, Tailwind Capital