June 11, 2014
GREENWICH, CT and INDIANAPOLIS, IN — Equian completed the acquisition of AfterMath Claim Science, Inc. effective June 11, 2014. The transaction builds upon Equian’s commitment to the payment integrity market and accelerates Equian’s strategy of expanding its capabilities through advanced data mining and analytics.
Based just outside of Chicago, IL, AfterMath Claim Science is a post-payment recovery services company that identifies and eliminates medical claim payment errors. Since its inception in 2003, AfterMath Claim Science has been developing overpayment solutions for the nation’s leading health care payors. The Company’s investment and commitment to their data mining technology (ClaimScopeR) was an attractive element of the transaction for Equian.
“The AfterMath Claim Science acquisition further expands our capabilities and footprint in post-payment services and analytics,” says Scott Mingee, CEO of Equian. “It builds on our last acquisition, The Reclaim Group, by adding new types of waste we identify, recover and ultimately eliminate for our clients. We are constantly looking for new ways to reduce our clients’ cost of care and remain committed to our focus on innovation, growth and capability expansion – AfterMath Claim Science checks all those boxes for us and our clients.”
“Post-payment services and analytics is highly scalable and a tremendous growth opportunity for Equian. With Equian’s rock solid management team, technological prowess, and deep payment knowledge they are delivering a powerful value proposition,” says Jeffrey R. Jay, M.D., Managing Director of Great Point Partners and a member of the Equian Board of Directors.
“AfterMath Claim Science has been delivering significant cost savings to several of the largest and most sophisticated health insurers in the country for the past 10 years,” added Brett Carlson, Senior Vice President at Great Point Partners. “We look forward to building upon their decade of success”.
Equian (formerly known as Health Systems International) is a health care information services company providing solutions throughout the United States—and around the world—that ensure each health care interaction is paid accurately, and at the lowest possible cost. Equian is backed by Great Point Partners, a leading health care investment firm, and is recognized nationally by Inc. Magazine and Modern Healthcare as a leading high-growth company in health care. Visit www.equian.com.
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 $750 million of equity capital under management and 26 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP II, which has closed on $215 million in commitments. Great Point manages capital in private (GPP I, $156 million, and GPP II) and public (BMVF, approximately $370 million) 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.
This document is intended solely to provide information regarding Great Point Partners’ potential financing capabilities for prospective portfolio companies.