iVantage Health Analytics Acquires Professional Data Services
Greenwich, CT and Portland, ME (PRWEB) October 15, 2013 -- iVantage Health Analytics Inc., a Great Point Partners II, L.P. (“GPP”) portfolio company and a leading provider of health analytic solutions, today announced the acquisition of Professional Data Services (“PDS”). PDS offers managed care analytics, internal/external payment benchmarking solutions to support payor negotiations, and strategic planning/execution.
The addition of PDS represents the continued expansion of the iVantage Health Analytics solution suite and enables the company’s hospital clients to make more informed business decisions, critical as they face an increasingly regulated health care marketplace.
PDS provides a SaaS based analytic tool developed for hospitals at the Hospital Association of Southern California (HASC). The SaaS products provide hospital revenue optimization and benchmarking using proprietary paid claims data. PDS’ hospital clients benefit from market analytics that empower contract negotiation and optimized revenue management.
“The key to constant improvement is reliable and timely measurement against benchmarks,” said Jim Barber, CEO of HASC and PDS. “Health plan contract performance, properly benchmarked with relevant peer groupings, provides PDS clients with invaluable financial information they cannot get elsewhere. As one of the largest hospital associations in the US, our membership demands top notch solutions. We are so impressed with the organization’s capabilities that, as part of this transaction, we will now become a shareholder of iVantage.”
About iVantage Health Analytics
iVantage is a leading provider of health care informatics and business analytics solutions that transform complex data into actionable business intelligence. This platform is used by hospital management teams to drive empirical and evidence based decision making. These tools are positioned at the center of a large market opportunity due to increased demand for meaningful data, driven by new compliance based requirements and operational challenges of the Patient Protection and Affordable Care Act (“PPACA”). iVantage has been growing at approximately 50% per year.
About Great Point Partners
Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $700 million of equity capital under management. GPP is currently investing from GPP II, which has closed on approximately $200 million in commitments. Great Point manages capital in private and public equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including biologics and pharmaceutical infrastructure, devices and diagnostics, health care services, hospital outsourcing, information technology, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203-971-3300. http://www.gppfunds.com.
This document is intended solely to provide information regarding Great Point Partners' potential financing capabilities for prospective portfolio companies.
Janel Griffin, Great Point Partners, (203) 971-3300, [email protected]
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