July 31, 2009
GREENWICH, CT and INDIANAPOLIS, IN – Health Systems International (“HSI”), a leading provider of outsourced medical cost management solutions to payors and health care provider networks around the world, today announced that it has acquired @Global. @Global has been developing and supporting best-in-class software solutions for workers’ compensation, casualty insurance, claims administration, and medical cost management environments since 1996.
Russell W. Sherlock, Chief Executive Officer of HSI, said, “@Global makes an exceptional fit for HSI by not only enhancing the infrastructure of all of HSI’s solutions but also providing additional software applications for clients as yet another way for them to control cost.”
President of @Global, Steve Graham, commented “The combination of HSI and @Global represents a highly strategic offering of software assets, customer service capabilities, and vendor relationships. HSI’s resources will allow us to be able to offer complete, fully integrated medical cost management solutions to current @Global clients.”
Jeffrey R. Jay, MD, Managing Director of Great Point Partners commented, “One of the ways we add value for our platform companies is by sourcing add-on acquisitions such as @Global.” Noah Rhodes, an HSI Board member, added “@Global provides technology solutions that make HSI the best of breed cost containment solution in the marketplace.”
Headquartered in Indianapolis, Indiana, HSI is a leading provider of outsourced medical cost management solutions to health plan payors and provider networks around the world. HSI is backed by Great Point Partners, LLC, a private investment firm with over $500 million of equity capital under management. Since 1987, HSI has utilized proprietary technology, experienced staff and the market’s broadest selection of medical discount solutions to relieve client’s administrative burdens and achieve the lowest possible cost of medical care. Go to www.us-hsi.com for more information.
@Global creates real and tangible value for organizations by integrating software strategies that help make the business of managing insurance claims more productive. Applications developed generate the maximum return on technology investment by improving health care loss outcomes and costs, enabling labor efficiencies, and reducing technology costs. Services include custom programming, project management, software training, system documentation and 24/7 technical support.
About Great Point Partners, LLC
GPP, based in Greenwich, CT, is a leading health care investment firm with approximately $500 million of equity capital under management. The firm manages capital in public and private 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 biotechnology and life sciences, consumer health, generic drugs, health care services, information technology, insurance, medical devices, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203-971-3300. www.gppfunds.com
This document is intended solely to provide information regarding Great Point Partners’ potential financing capabilities for prospective portfolio companies.