ExamWorks

About ExamWorks

In 2008, Richard Perlman and James Price launched ExamWorks with a clear playbook: to become a leading provider of independent medical examinations (IMEs). The company serves a critical function for insurance carriers, law firms, and government agencies by providing objective medical assessments to validate claims for workers' compensation, automotive, and disability insurance. The initial strategy was one of rapid consolidation. ExamWorks grew by acquiring numerous smaller players in the fragmented IME industry, quickly expanding its footprint. This aggressive roll-up strategy led to a significant event in October 2010, when the company went public on the New York Stock Exchange under the ticker 'EXAM', raising $164.8 million to fuel further growth and pay down debt. After several years as a public entity, the next major turn came in 2016. Private equity firm Leonard Green & Partners acquired ExamWorks in a take-private transaction valued at approximately $2.2 billion. This moved the company out of the public markets and under the ownership of a major private equity player known for investing in market leaders. The story didn't end there. In 2021, another significant ownership change occurred when CVC Capital Partners acquired a majority interest in the company, with Leonard Green & Partners retaining a significant stake. This move highlighted the company's continued value and leading position in the market, setting it on its next course for growth under new stewardship.