New York, NY – December 3, 2025 – NMS Capital (“NMS”), a leading private equity firm focused on investments within subsectors of Healthcare Services and Business Services, today announced an investment in and recapitalization of Axiom Medical (“Axiom” or the “Company”), a premier provider of tech-enabled workplace incident case management solutions with a national footprint.
Axiom is a leading workplace incident case management solutions provider focused on self-insured employers. Serving over 1,500 employers in high-risk, labor-intensive sectors, Axiom enhances injured workers’ outcomes and reduces claim costs through quality of care, driving value for employees and employers concurrently. The Company leverages its nurse-led, tech-enabled case management model to provide first response to a worker injury, conduct a physical and mental health evaluation, and subsequently, recommend the appropriate treatment path post-injury. In tandem, Axiom’s proprietary technology platform powers high-quality service delivery through automation, real-time data capture, and actionable analytics tailored to each client. Axiom’s unique ability to demonstrate ROI on incident case management through advanced reporting and analytics and differentiated quality of service has driven recent growth and success.
NMS’ investment in Axiom originated from its investment theme in payor and self-insured employer cost containment solutions. Macro trends of rising healthcare costs for injured workers and an adoption of self-funded insurance strategies are driving strong demand for advanced injury management solutions. Axiom joins VONA Case Management, a leading medical case management provider focused on post-claim injury management within the workers’ compensation and auto no-fault sectors, as part of NMS’ thesis within this theme.
Mark Robinson, Chief Executive Officer of Axiom, commented “Our growth since formation is evidence of the unique value we provide to employers and employees alike. We have built a differentiated platform through superior injured worker care, a highly effective delivery model backed by proprietary technology, and robust corporate support and infrastructure. We are excited by the opportunity the partnership with NMS creates for our next leg of growth and development.”
David Peterson, Partner at NMS, noted “Axiom has separated itself as a leader in cost containment solutions for self-insured employers, a sector NMS is intimately familiar with as the result of its thematic investing approach. Axiom’s unique nurse-led, tech-enabled model is well-positioned to address employer needs unmet by larger national vendors and capture share by prioritizing employee advocacy and informed treatment decisions. We are excited to partner with Mark and the team to drive the Company’s next stage of growth through new customer expansion, strategic M&A, and continued investment in and refinement of the Company’s offering.”
The NMS deal team also included Pat Rowland (Operating Executive), Madeline Schneiter (NMS Portfolio Optimization Group), Jonathan Spero, Rukun Goel, and Jacob Eckerle (Investment Team). McDermott Will & Schulte provided legal counsel and TripleTree served as financial advisor to NMS. Wilson Sonsini Goodrich & Rosati served as legal counsel and Bailey & Co. served as the exclusive financial advisor to Axiom for this transaction.
About Axiom Medical:
Founded in 1999 and headquartered in The Woodlands, Texas, Axiom provides tech-enabled workplace incident case management solutions, leveraging a 24/365 nurse-led model to manage employee health incidents, reduce claims costs, and improve return-to-work outcomes. Axiom serves more than 1,500 employers nationwide across high-risk, labor-intensive sectors and delivers service through its proprietary platform offering real-time data capture, automation, and actionable analytics. For additional information on Axiom, please visit www.axiomllc.com.
About NMS Capital:
Founded in 2010, NMS Capital is an experienced private equity firm managing assets in excess of $1.6 billion. Since inception, NMS has partnered with management teams in over 150 investments and follow-on acquisitions across defined investment themes within the Business Services and Healthcare Services industries. The firm’s principal strategy is to create long-term value by providing strategic and operational resources to growth-oriented companies led by founders or experienced management teams. NMS has successfully built industry leading lower middle market companies in defensible and scalable end markets by accelerating organic and acquisition-driven growth.For additional information on NMS, please visit the firm’s website at www.nms-capital.com. Follow NMS Capital on www.linkedin.com/company/nms-capital.