October 21, 2013
GREENWICH, CT and INDIANAPOLIS, IN — Health Systems International (“HSI”), a global provider of payment effectiveness solutions and a Great Point Partners I portfolio company, today announced the acquisition of The Reclaim Group (“TRG”), a medical post-payment recovery services company, based in Bethesda, Maryland. TRG is a leading provider of facility claims overpayment identification and recovery services to various health care clients in the United States, and is experiencing rapid growth and demand for its services. The acquisition further expands Health Systems International’s suite of payment effectiveness products.
“As we look to deliver analytics and full service payment integrity solutions to our clients, TRG expands our offering into post payment recovery,” said Scott Mingee, CEO of HSI. “Technology-based, analytics solutions are a perfect match with our business.”
HSI’s strong revenue growth rate in excess of 40% per year since Great Point Partners invested in 2007 clearly demonstrates its ability to successfully meet the existing and future needs of its customers. Noah Rhodes, a Principal of Great Point Partners stated, “With the acquisition of TRG, HSI now offers both pre-payment and post-payment services to its large and growing customer base. Instead of building this functionality over time, HSI can immediately deliver these services to its more than 400 payor clients.”
About Health Systems International
Health Systems International lowers health care costs for clients through payment integrity solutions and analytics. The company serves organizations located throughout the U.S. and internationally, and is recognized nationally by Inc. Magazine and Modern Healthcare as a leading high-growth health care company. Health Systems International is backed by Great Point Partners, LLC, a leading health care investment firm. Visit www.us-hsi.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 $700 million of equity capital under management. GPP is currently making new private equity investments from GPP II, which has closed on approximately $200 million in commitments. Great Point manages capital in private (GPP I and GPP II) and public equity (BMVF) 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 www.gppfunds.com.
This document is intended solely to provide information regarding Great Point Partners’ potential financing capabilities for prospective portfolio companies.