Houlihan Lokey Advises InTandem Capital Partners

Houlihan Lokey is pleased to announce that InTandem Capital Partners (InTandem) has completed an investment in The Phia Group (Phia), a portfolio company of WestView Capital Partners (WestView). The transaction closed on December 1, 2025.

InTandem is a private equity firm that invests in and helps accelerate the growth of select healthcare services companies. Its goal is to build excellent businesses of significant value by working collaboratively with its management team partners. InTandem is solely focused on investing in businesses that align closely with the Healthcare Quintuple Aim—the simultaneous pursuit of enhanced patient experience, elevated provider experience, improved clinical outcomes, greater healthcare equity, and lower cost of care delivery. The firm comprises former business executives and experienced investors and is uniquely qualified to provide strategic, acquisition, and operational expertise to help companies significantly increase their value and their contribution to an improved healthcare system. InTandem provides active support to the management of its portfolio companies directly and leverages its network of industry executives to augment its capabilities. InTandem is joined in its investment by strategic co-investments from HarbourVest Partners and Partners Capital, both of which are among the largest and most well-respected institutional investors in the global alternative investment market.

Phia empowers health benefit plans and sponsors through innovative consulting, cost containment, and plan management services. Founded in 2000, Phia reduces the cost of health benefits and improves access to quality care through innovative technologies, legal expertise, and focused, flexible customer service. By providing the industry with best practices and staying true to a forward-thinking methodology, Phia boasts an all-encompassing cost containment program for the ever-changing healthcare industry.

Houlihan Lokey served as the exclusive financial advisor to InTandem. This transaction demonstrates the firm’s leadership position across the employer-sponsored healthcare market. Since Q3 2024, Houlihan Lokey’s Healthcare Group has advised on 13 transactions in this category valued in excess of $5 billion.

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