HealthTrio, A Leading Digital Engagement Provider for the Healthcare Market, Announces Strategic Growth Investment by 2ndWave and PSG
HealthTrio, a leading software-as-a-service innovator for the healthcare market, today announced that 2ndWave Software, who partners with middle-market enterprise software companies, and PSG, a leading growth equity firm partnering with software and technology-enabled service companies, have acquired the Tucson-based company.
TUCSON, Ariz., Feb. 11, 2021 /PRNewswire-PRWeb/ -- HealthTrio, a leading software-as-a-service innovator for the healthcare market, today announced that 2ndWave Software ("2ndWave"), who partners with middle-market enterprise software companies, and PSG, a leading growth equity firm partnering with software and technology-enabled service companies, have acquired the Tucson-based company. This investment from PSG and 2ndWave will accelerate opportunities for HealthTrio's clients to better impact health outcomes, improve the patient experience, and decrease costs. Dominic Wallen, CEO of HealthTrio, will continue to lead the business through the change in ownership with the aid and support of his existing executive leadership team.
"We are very excited to partner with the HealthTrio team," said Dan Mayleben, CEO of 2ndWave. "HealthTrio has a long-standing history producing best-in-class solutions, and we look forward to our collaboration in this next chapter of the company's long tenure, as they continue to exceed market expectations through world-class healthcare software solutions."
"When looking at investments for digital engagement solutions and innovators within the healthcare market, HealthTrio was at the top of our list," said Bill Skarinka, Managing Director at PSG. "Throughout their long tenure, the organization has been passionate about excellence in building advanced solutions that address the challenges of the healthcare market, resulting in innovative products that we believe are significantly ahead of the curve."
Founded in 1999, HealthTrio was first to market a portal solution for the healthcare industry over twenty years ago. Since then, HealthTrio has developed and innovated digital engagement solutions that optimize self-service, value-based care, healthcare consumerism, and real-time data integration. This change in ownership will enable HealthTrio to enhance their growth trajectory while continuing to focus on product development and customer satisfaction.
"At HealthTrio, our customers, team members, and ongoing contributions to the healthcare industry come first, and we're adamant that will always hold true. Our new partners, 2ndWave and PSG, share that same strategic vision," said Dominic Wallen, CEO, HealthTrio. "Through this partnership, we will be able to achieve our full growth potential, and I'm so excited for the innovation that, together, we can bring to the healthcare market."
About PSG
PSG is a growth equity firm that partners with lower middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 65 companies and facilitated over 275 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City and London. To learn more about PSG, visit http://www.psgequity.com.
About 2ndWave Software
2ndWave Software was formed in 2007 by veteran software executives Chris Heim and Dan Mayleben. Its mission is to partner with middle-market enterprise software companies and leverage Chris and Dan's extensive operational, business development, and technological expertise to accelerate growth.
About HealthTrio
HealthTrio provides digital engagement solutions that optimize self-service, value-based care, healthcare consumerism and real-time data integration. Our selection of tools is as broad as the markets we serve – from everyday tools such as eligibility, benefits and claims to advanced features supporting provider quality performance, cost transparency and automated authorizations. With in-depth security capabilities, HealthTrio's Smart Series platform extends beyond the traditional member, provider, employer and broker access to include guests, caregivers, community-based organizations and a variety of other user types. For over twenty years, HealthTrio has supported health plans, administrators and integrated delivery networks to decrease costs, increase access and improve health outcomes. For more information, visit http://www.healthtrio.com.
Media Contact
Molly Dickinson, HealthTrio, +1 7634426091, [email protected]
Michelle Peek, HealthTrio, 7634426091, [email protected]
SOURCE HealthTrio
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