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Great Point's Equian Starts the Year Enhancing Payment Integrity through Acquisition of The Assist Group
Introduction
GREENWICH, CT and INDIANAPOLIS, IN — Equian, a Great Point Partners (“GPP”) I portfolio company and a leader in health care reimbursement analysis and payment integrity, today announced the completed acquisition of The Assist Group (“TAG”) effective January 2015. The transaction kicks off the year furthering Equian’s commitment to the payment integrity market and advancing the company’s pre-payment clinical claims review and resolution solutions.
TAG, based in Lakewood, Colorado, is a pre-payment technology and solutions company with extensive clinical and claim resolution processes that identify improper costs and yield significant savings to payers. TAG’s deep clinical domain experts coupled with their detailed technology platform provide health care payers substantiated findings to avoid reimbursement of inappropriate costs on a pre-payment basis.
“TAG’s forensic review process of identification and resolution which results in a reduction of claim billing errors is impressive and has saved payers tens of millions,” says Scott Mingee, CEO of Equian. “Our acquisitions in the last 12 months were focused on post payment expertise, and with the addition of TAG’s pre-payment capabilities we further our vision as an end to end payment integrity company. Our customers are looking for a partner to help them along the entire continuum of post payment, pre-payment and ultimately prevention. TAG has a unique approach along with new rules which enhances our ability to lower the cost of care for our customers.”
“We identified pre-payment solutions as a large and underpenetrated market in the commercial and government managed care sector,” added Brett Carlson, Principal at Great Point Partners. “Through primary research in talking with customers, TAG emerged as the top target on our acquisition wish list.”
About Equian
Equian is a health care information services company providing solutions throughout the United States that ensure each health care interaction is paid accurately, and at the lowest possible cost. Equian is backed by Great Point Partners, LLC, 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 for more information.
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 $800 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. The private equity funds invest across all sectors of the health care industry including biologics and pharmaceutical infrastructure, devices and diagnostics, health care services, outsourcing, information technology, and specialty pharmaceuticals. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203-971-3300 or www.gppfunds.com.