April 6, 2011
GREENWICH, CT and INDIANAPOLIS, IN – Health Systems International (“HSI”), a global provider of outsourced medical cost management solutions and a Great Point Partners I portfolio company, today announced the acquisition of True Course, a data informatics and claims services company, based in Milwaukee. True Course provides high quality medical data analysis and supportive claim services in the Midwestern, United States. True Course is at the forefront of workers’ compensation medical fee schedule development and offers the most comprehensive set of certified databases in Wisconsin. The acquisition further expands the exclusive technology and business offerings of Health Systems International.
“Medical costs are the fastest rising component of workers’ compensation programs,” says Glen Boyle, President of True Course. “The integration of True Course with Health Systems International allows us to deliver a full suite of medical cost management solutions to our current and prospective clients.”
Jeff Brand, President, Network Solution for Health Systems International further added, “The key to maximizing savings in workers’ compensation is partnering with experts who offer a full understanding of ALL the components necessary to achieve maximum savings results such as fee schedules, medical services, and payment systems — True Course is that partner.”
This acquisition marks the fifth tuck-in acquisition HSI has closed in the last several years. HSI’s strong revenue growth rate in excess of 60% per year clearly demonstrates its ability to successfully meet the existing and future needs of its customers. Jeffrey Jay, M.D. a founder and Managing Director of Great Point Partners said, “This extends HSI’s capabilities into data informatics and medical data analysis. Moreover, it adds another proprietary solution to HSI, expanding its range of unique product offerings.”
About Health Systems International
Health Systems International provides medical cost management solutions to healthcare payors in multiple markets throughout the world. The company connects clients to the lowest possible cost of care utilizing advanced technology, customized solutions, exclusive offerings, and personalized service to drive optimal savings and reduce administrative demands.
About Great Point Partners, LLC
GPP, based in Greenwich, CT, is a leading health care investment firm with approximately $450 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 behavioral health, biologics manufacturing, biotechnology and life sciences, health care services, hospital outsourcing, information technology, medical devices, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at www.gppfunds.com.
This document is intended solely to provide information regarding Great Point Partners’ potential financing capabilities for prospective portfolio companies.