April 09, 2024
Lucent Health Announces Next Phase of Growth with New Capital Partner, Gauge Capital

Southlake, TX – Gauge Capital (“Gauge”), announced that it has partnered with the management team of Lucent Health ( (“Lucent” or the “Company”) to provide growth capital and recapitalize the Company.  Founded in 2014 and headquartered in Nashville, TN, Lucent is a leading third-party administrator and cost containment solution provider to self-insured employers across the U.S. The Company has established itself as a partner of choice through its ability to help employers reduce healthcare costs while simultaneously improving the member experience and health outcomes. Gauge acquired Lucent from a consortium of investors led by NaviMed Capital of Washington, D.C.

“We founded Lucent with a customer-focused mission of relentlessly pursuing lower healthcare costs for our customers and an improved experience for their employees. We’re proud of the success we’ve had achieving this mission and eagerly anticipate leveraging the resources and support offered by Gauge to accelerate our growth,” said CEO Brett Rodewald. “The Gauge team understands Lucent's vision for the future and embraces our commitment to delighting our customers by providing innovative, data-driven solutions that address both the costs and complexities of the healthcare system.”

David Friedman, Partner at Gauge Capital added, “Brett, Alex and the entire Lucent team have done an impressive job of executing on the vision they created when they founded Lucent 10 years ago.  We have been highly impressed with the comprehensive cost containment solutions that Lucent has built and believe Narus Health, Lucent’s care management platform, will continue to fuel growth and differentiate Lucent from its competitors.  We are thrilled to partner with the entire management team to grow and build the business, and we believe there are several exciting organic growth and M&A opportunities to pursue that will further enhance Lucent’s ability to reduce costs while enhancing the member experience for its customers.”

As part of the partnership, David Friedman, Stan Dennis, and Alex Asbill from Gauge Capital have joined the Company’s Board of Directors.  McDermott Will & Emery served as legal advisor to Gauge and Harris Williams served as buy side advisor to Gauge. Cain Brothers served as financial advisor to Lucent Health.

About Gauge Capital (
Gauge Capital is a leading middle-market private equity firm based in Southlake, Texas. Gauge invests in five key sectors: business services, food & consumer, government & industrial services, healthcare, and technology. The Firm manages more than $3.0 billion in capital and in 2020, 2021, 2022, and 2023, Inc. Magazine named Gauge one of the top private equity firms for founders. In 2021, 2022, and 2023 Gauge was also named to the Top 50 PE Firms in the Middle Market by Grady Campbell. In 2021, Gauge ranked in the top 5 out of 517 private equity firms in the HEC Paris – DowJones Small-Cap Buyout Performance Ranking. For more information, please contact Chris Garvin, Principal, Business Development at 

Disclaimer: From time to time, Gauge may be recognized or ranked by independent third-party rating services or publications. Such recognitions or rankings are generally based on information prepared or submitted by the recognized advisory firm, and are usually limited only to those advisory firms who choose to participate in such surveys. Any third-party recognition or ranking that may be included should not be construed as a guarantee that any client or prospective client will experience any specific level of investment performance or receive any specific level of customer service, as a result of such recognition or ranking. Furthermore, any such recognition or ranking should not be construed as an endorsement by any of Gauge’s clients. As such, clients and prospective clients should not put undue reliance on any of these statements.